The SS trust was targeted by LBJ to fund the ‘Great Society’ in other words, buy votes.
Haven't SS collections simply gone into the general fund since 1968, in order to fund his welfare-state and Viet Nam without presenting a giant deficit? Johnson's last hurrah, if I'm not mistaken. If there's nothing there but IOUs backed by nothing, what's to loot? I'll need to learn a lot more about Social Security if I'm to even believe Greider's premise, let alone his conclusion.