[Jim Robinson]

You are correct on that. But it gets worse. Obama and his Marxist cohorts are already sizing up the private retirement savings of US citizens (something like $16 trillion) and at a time of his choosing will seize, er confiscate, er borrow it to apply to the nations debt. Oh, he won’t be stealing it. It’s just a “bookkeeping entry” moving it from private bank accounts to government accounts in your name. He’ll even allow interest to accrue on it. He’s just borrowing it for the here and now and will dole it back to you in bits and drabs should you live long enough to retire.

[Marcella]

I think you're right - that's how he will do it. He will “borrow it”, put IOUs in your account, just as the Social Security money was “borrowed” and IOUs put in the SS account, so there's no money there - just pieces of paper stating the govn. owes it to that account.

I have lived long enough to remember when there was actual money in the SS government account. I don't remember which year it was that account was moved into the general budget rather than being separate.