Phony Social Security Promises And Political Threats

Can Social Security checks be truly considered a government “pension” fund? Can Social Security checks be delayed if Congress ever fails to increase the government's borrowing authority? 

The 2012 Social Security trustees report says that  assets in Social Security's trust funds totaled $2.7 trillion, and Social Security expenditures totaled $773 billion. Therefore, no matter what Congress does about debt limits, Social Security recipients are guaranteed their checks. Just take the money from the $2.7 trillion assets being held. Payments can still be made despite Congressional action.
     
But note: There is no Social Security lock box; funds are used by government as received in Social Security taxes. So-called Social Security trust funds are actually IOUs, of no market value.  (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at twitter.)