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It's not exactly "financed". Money is charged to employers and employees (look at "fica" on your paycheck stub). That money is immediately paid out to social security recipients, along with other tax dollars from the general fund.
That's why people say, "I don't know if there will be any money for me in Social Security when I retire". Because it's NOT being saved, and it's not kept apart from the general funds.
TRM
People who are currently employed pay for social security through taxation, I think it's about 6 1/2%, which your employer matches. These funds pay for the current retired folks. When we retire, hopefully there will be enough people working and contributing to social security so we'll also receive these benefits.
src50
Through payroll taxes and a trust fund.
La Vie Boheme
It comes out of every working persons paycheck
Prophet 1102
By employees and employers.
Martinmm
fear that if there wasn't any there would be a plague