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The shame of all of this is that, if something along the lines of what is being proposed now had been undertaken say 20 or 25 years ago the transition would have been much, much smoother and the private Accounts would be very much ahead of the game.
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The fact that nothing was done 20 years ago is one of the reasons that I think current and soon-to-be recipients of Social Security should share in the burden of averting disaster. I do not think they should be able to march into the sunset leaving us (current workers) holding the bag. Anyone now receiving, or about to receive Social Security is part of that group that made it the third rail. They are part of that group that saw the problem but did little. They loved the beautiful music of easy money, and now the pipe wants to be paid.

Any costs to changing the system (I really don't want to "save" it) should be met by current benefit cuts and spending cuts in other welfare programs. There should be now new costs foisted on the current workers (after all they will be receiving far less, if any, benefits from it).

Well, by your calculations, I am part of that group. Unfortunately, I was NOT one who sat back and permitted this theft to go unchallenged. During my obtaining an MBA in Finance I conducted as Study of the rates of return on Social Security v. ANY Private fund and the results showed clearly that Social Securiy was a VERY, VERY bad means of funding even a supplemental retirement scheme. The Study was well received, got some circulation and then found itself relegated to the land of the ignored. It, and other similar studies, were the proverbial 'Skunk at the garden party' - No one wanted to hear it and that has continued until the recent time. I couldn't opt out of the ponzi scheme but I sure as Hell wanted to.

IMO The ones who should bear the burden this theft are our Pubic Officials who made certain their own nests were feathered and used the SS Funds to finance their reckless, irresponsible spending - Spending that most Americans applauded (Remember LBJ's Great Society?)

I think current and soon-to-be recipients of Social Security should share in the burden of averting disaster.

the current especially since they paid less than the soon to be recipients.
People should not receive more than they put in. since I have been paying 12% my entire career, while current recipients paid a far lower amount, and have been receiving more than they put in it is they not us that should make the sacrifice.
we are already making the sacrifice of paying an ever increasing FICA that we will not get back.
once a person has received what they put in the check should stop.