No, the government pays for current services and then spends the rest as a loan to itself (see $38T debt above). The boomers were so big that there was massively more collected then spent. The idea was to loan that extra to the government and the government could structure the debt to smooth things out because eventually the boomers are so big that there will be more spent than immediately collected.
That fine and all but current trends point to the ss drying up because of demographic decline so it seems like it was just a big ponzi at the end of the day with millennials and younger holding the bag. Also, if its true that the boomers have paid surplus into the fund that is meant to smooth out the payment curve, then why do they need my money.
