It has already gone under. It went under the day that paid benefits exceeded ‘contributions’. That was never supposed to happen.
In the 1930s when the system was designed taxpayer contributions were supposed to exceed (very nicely) paid benefits. Congress made sure of this by not citizens not being eligible for benefits until age 62 ½. Most men died by age 45 and most women by age 60.
As people started living longer adjustments were made the tax rate was raised. The span of the people in the program was expanded (added farmers and the self-employed. Hey let’s rip off more people).
But the main point is that once the SS Administration started redeeming their SS Bonds the game was up. They were broke. The bonds are redeemable only to the US Treasury. That means that SS checks are being paid out of the US General Funds (in reality they always were). Now this off budget program is being paid out of funds that are supposed to be only paying for budgeted programs.
As designed SS was supposed to be supplier of funds to the Federal Budget now it is a drain on that budget.
You’re correct to say that Congress will do whatever is necessary to ensure that SS survives. SS is one of those third rail programs that no one dare touch.
Part of the appeal of ‘Dreamers’ is that they pay into SS. Illegal aliens, especially those that use stolen SS numbers are a net positive to SS because they pay in but don’t collect benefits.
Demographics of the US are killing SS. Young people are having way to few children and the Babyboomers are retiring way too soon and living way to long.
So, if you ever wonder why both Dims and Republicrats are not ranting and raving about deporting illegals, it because they really don’t want to do anything about the very dire problems with SS.
“very dire problems with SS”
SS is just one of many problems. The country is $22T in debt and running $1T deficits ... and that’s with Trump. Once Trump is gone the country goes harder left. No one cares. They will keep SS going no matter what.
“Part of the appeal of ‘Dreamers’ is that they pay into SS. Illegal aliens, especially those that use stolen SS numbers are a net positive to SS because they pay in but don’t collect benefits.”
Not yet but in the future they will. It will be done in the name of “fairness”.