The long-term destruction of Federal solvency accomplishes what they will fail to do with the privatizing effort.
Whether or not the FICA revenues can be looted by Wall Street, future retirees will find that their Social Security checks have already been spent on decades of military waste, fraud, and unjustified warfare, and no new borrowing is possible to replace them.
Today's Financial Times shows how the credit rating for US (and French, German, and UK) government debt will lose their prime investment grade ratings, leading to a snowballing of higher interest rates and inability to borrow.
http://news.ft.com/cms/s/3460ab64-9982-11d9-ae69-00000e2511c8.html
Look at the graph, showing the drop-off at 2017, after which Social Security will need to draw upon income tax revenues.
Here's the big number that cinches it:
"The agency estimates that according to current trends US general government debt will soar to 239 per cent of gross domestic product by 2050, against 65 per cent today. "
Borrowing to pay the Social Security shortfall (paying back the borrowed Trust Fund) will become prohibitively expensive.
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