The Social Security Trust Fund used to soak up most of the U.S. deficit, but it switched to net outflows 1 or 2 years ago. For the past 5 months the Federal Re

The Social Security Trust Fund used to soak up most of the U.S. deficit, but it switched to net outflows 1 or 2 years ago. For the past 5 months the Federal Reserve has increased its treasury holdings by $250 billion[1], after selling them steadily for the past 2 years as part of QE reversal. Everything I've read said that the recent inability for the Treasury to clear short-term bonds is a technical issue. But I wonder if these two matters are purely coincidental. Perhaps the removal of the SS Trust Fund buffer is starting to catch up with our massive and dramatically increasing (since the Trump tax cut) deficits? Any linkage would have to be indirect, I suppose, but still.... [1] https://fred.stlouisfed.org/series/TREAST https://fred.stlouisfed.org/series/TREAST