Brad says Dean wrote this

In an article discussing the implications of the extension of the payroll tax cut, the Washington Post told readers:
"This year, the Social Security system projects that it will pay out $46 billion more in benefits than it will collect in cash. It made up for the shortfall by redeeming Treasury bonds bought in years when there were cash surpluses."
This is not true. The Social Security trust fund is projected to earn $114.9 billion in interest on the bonds it holds. It will use a portion of these earnings to pay current benefits. It will not be redeeming its bonds.

This is not real theory,Brad DeLong, this is Dean spouting from the Book of the Exogenous. Listen carefully:

Dean is claiming that some government agency is making money on their investments, so much money that the political establishment can cut back the funding for this agency, as a stimulus ecxperiment. How is this agency making money? Investing in a sister government agency!

If being a theoretical professor of economics ever has any meaning, then this is not theory.