True.SS revenue had not been counted as revenue before that.
Im confident that that started in the Johnson Administration.SS was still taking in more than it disbursed. Now we dont even maintain the fiction that SS is an untouchable fund.
The statesman who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.
Congress changed the way SS revenue was accounted for in the Clinton administration. It was an attempt to “get real” because the SS revenue never was in a “fund” but always used as general revenue except on the official books.Before, SS surplus was “borrowed” to fund deficits. After it was just spent.