Comment Re:Medicare bigger than DoD, Social Security close (Score 1) 395
It may not be part of the budget, but the treasury bonds held by the social security administration are definitely part of the national debt. The fraudulent accounting schemes used to hide the size of the national debt might prevent the government from making social security payments. When the baby boomers start retiring in large numbers, the government will have to issue bonds to the public in order to redeem the bonds held by social security. Unless we get the budget balanced soon, we won't be able to afford to redeem the social security bonds.