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SS is a pay as you go system, i.e., today's workers pay for today's retirees.

Nice try. SS was originally envisioned for today's retirees. Lots of young dependents receive SS, as well as disability recipients far younger than retirement age. And many receive far more money than what they put in, if they put in anything at all. It's a scam that politicians have milked to bankruptcy.

I gave you a description of how the money flows into and out of the system. All of the revenue collected is immediately put into T-bills. Benefits are paid out and any shortfall is made up from the SSTF.

SS is a product of law. It has been changed and amended by Congress and approved by the President. In 1983 President Reagan and Tip O'Neil changed the law by increasing the age for full benefits from 65 to 67. They also mandated that all new Federal employees would have to join the system. Changes are made all the time.