Heavy Z,
"Essentialy" is a severe oversimplification. I don't think I need to tell you that.
As to the rest of course we want to bring spending down so repayment of the bonds is not an issue.
It would be nice if we didn't have to use all of the money in the General fund.
I'm actually kind of glad we do though because otherwise we would just be using not only the money owed to SS but whatever was left if there was a general fund surplus to support a dead program.
Again all of this money is being counted as if it were there. That means the "omg they are raiding SS" mentality is moot. The current system will begin to fail at the projected dates even with all the money.
Actually the whole arguement either way is moot. No matter which way it goes you and I will pay for it.