I’d call it theft.
> I’d call it theft. <
And you’d be right. If you were forced into government bonds paying say 2% while the real rate of inflation was 6%, they’d be stealing 4% from you each year.
By the way, I’ll bet you a dollar that Congressional retirement plans would be exempt from all that. They’ll say something like “We need to exempt the Congressional plans to encourage good people to run for office.”