A decade or so ago there were several ponzi schemes going around. Send a dollar to the 8th person on the list and get a million back or whatever. They were declared illegal and shut right down.
I do understand that pols are near-sighted, blind, deaf, and dumb. They did not even see that life expectancy would increase either.
The SS trust fund has been perpetually raided. For many years, and favor some even to this day, the $ backing of the US govt is enuf to inspire confidence that they can/will cover this shortfall, plus interest. And at a devalued rate. I am not sure many people (conservatives that is)expect SS to be viable for their retirement. Perhaps the tax and spenders do in their misguided opinions.