Pensions were the major form of welfare in USSR. Pensions were very low and easy to manage. Looked like they were picked up by the individual countries because they were manageable. Housing was provided to people but that was an asset that could be privatized.
Russia's workout was very simple in retrospect. Ours? I don't know.
Just reminds me that God wanted to setup the year of jubilee but the Jewish people were a little reluctant, looks like He may have done it anyway.........
I have. Our situation is not comprable. Most of the USSR's liabilities were in the form of dollar-denominated debt borrowed from the West, and they were massive. Our actual liabilities (Treasury securities outstanding) are easily manageable.
Russia's promised retiree obligations were small. Ours are large. Thankfully, we can reduce ours without creating an event of default.
Russia's workout was very simple in retrospect. Ours? I don't know.
The point you seem to be missing is WE DON'T NEED A WORKOUT. All we have to do is reduce social security and medicare benefits, and we don't need the consent of the beneficiaries to do that. It's true, they get to vote, but so do all the people footing the bill, and there are more of us than them.