47. Actually it doesn't change the stack of "worthless IOU" by a single penny.
When SSA gets $120B "cash" from payroll contributions by law it is required to use those funds to buy Treasury bonds.
Thus if you want to get technical: $120B cash from workers - > SSA - > $120B in treasury bonds. vs 120B cash from general fund - > SSA - > $120B in treasury bonds.
By law SSA is obligated to use any excess funds (receipts > expenses for current year) and purchase treasury bonds (hence your worthless IUO comment). Under either funding scenario there will be the exact same number of "worthless IOUs".
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