Think about it.... the "rave" right now is guaranteed annuities. I get a free dinner every week with my wife for sitting in on some investment guy's insurance backed annuity pitch. A lot of people are putting money in those things. (I don't). A lot of people like the "safety" pitch. (as if its really safe). If the government offered an annuity option that mimicks these insurance backed annuities.... in style, investment choices, guaranteed rates of return.... and allowed the government to skim 2 o 3 percent off the top every year (as these private plans do).... a lot of people would willingly invest in these with the government. And once you're in an annuity, it is forever.
They don't need to take our money. There are a ton of people who can be tricked into giving it to them.