A recent Reddit post from r/LateStageCapitalism sparked intense conversations about Social Security and Medicare, shedding light on the misunderstood dynamics of these programs. Many Americans believe myths about Social Security’s connection to the national debt, but the facts tell a different story.
Social Security Isn’t Driving the National Debt
Social security and Medicare
byu/Hacksaw6412 inLateStageCapitalism
Contrary to popular belief, Social Security and Medicare are funded through a dedicated payroll tax, separate from other government revenue. This means they do not add to the national debt. In fact, Social Security currently holds a $2.5 trillion surplus—a safety net built by workers’ contributions over decades.
Congress “Borrowing” from Social Security
The Reddit post highlights a major issue: Congress has “borrowed” trillions from the Social Security trust fund to cover other government spending, including wars, tax cuts for the wealthy, and corporate subsidies. This borrowing, while legal, has turned Social Security into a piggy bank for unrelated priorities.
The key problem arises when politicians argue for cuts to Social Security to balance the federal budget. In reality, this rhetoric masks a bigger truth: the government owes the program money and doesn’t want to pay it back.
The Real Impact of Cutting Social Security
Cutting Social Security benefits would disproportionately harm retirees, low-income workers, and disabled individuals who rely on these funds to survive. For millions of Americans, Social Security isn’t optional—it’s essential.
Critics argue that proposed cuts are about protecting political interests rather than fixing systemic fiscal issues. Meanwhile, taxpayers who paid into the program for decades are left asking: Where did our money go?
Why This Matters Now
As debates over Social Security’s future heat up, it’s important to separate political talking points from reality. The program is solvent and self-funded—but its surplus has been used to subsidize unrelated spending. Cutting benefits would punish ordinary Americans for choices they didn’t make.
Final Thoughts
The conversation on Reddit underscores growing frustration with political mismanagement of Social Security funds. As the 2024 election cycle approaches, voters must demand transparency and accountability on this issue.
