If I take out a loan from a bank, I am the one who benefits from the loan, and I am the one that pays it back. But if you borrow from social security, the benfi

If I take out a loan from a bank, I am the one who benefits from the loan, and I am the one that pays it back. But if you borrow from social security, the benficiary and the payee are not the same person, or even the same generation of people. One generation benefits, the next is on the hook to pay. And that is exactly what happened. Boomers borrowed from social security because they weren't willing to raise taxes on themselves. They promised to pay it back using Millenials' taxes. They got the benefits, we got the debt.