[The Sons of Liberty]

When the creditors are bond holders and the Social Security fund, what is the mechanism for getting the creditors to take less?

No Cost of Living increases (not "raises" since you actually realize no added benefit) is already in effect for Social Security, which by the way, is merely the beneficiaries recouping the money the government FORCED them to contribute.

[Shanghai Dan]

See Fleming v. Nestor; no one is actually entitled to ANY Social Security payment. None, nada. In fact, Social Security deposits you make today are not guaranteed or even suggested to be what you will reap in the future. It's a straight-out tax that goes into the general fund, with window dressing "acting" as a potential retirement plan.

The Government could legally welch on 100% of all Social Security payments made starting tomorrow - and it would be 100% fine, from a legal aspect. They could continue to demand you pay in, even when there is zero chance you'd get any pay out, and it would be 100% legal.

It was a sop to buy the votes of retirees - and has grown into a massive entitlement to keep those votes for big Government types. But in reality, it's just another income tax, just one that's capped on the first $110K of your income.

[zek157]

Russians paid Soviet ruble debt in devalued currency.

full pensions bought a bag of potatoes in the 90s.