I hate to break it to you, but they shift the burden of all that debt caused by their reckless spending and outright thievery to the taxpayers the moment it's created.
Who did you think pays the interest on the National Debt? Why do you think it's called "our" national debt?
These are retirement funds, they’re not supposed to be debt. They’re supposed to be sitting in an investment fund somewhere where their funds go up and down with the stock and bond market.
I. without any evidence or reason whatsoever, think these funds are actually going to turn out to be illusory. I think that money was spent on corruption long ago. I think the nationalization of them is supposed to keep the truth from coming out.
That is all my opinion and conjecture.
It could just be that the left is watching the stock and bond markets drop. They know leftists in power will do nothing but harm the economy and they want to make sure the union members, their loyal goons, are protected. So the federal government will “make them whole” (massive spending). Meanwhile no SS benefit increase for 2-3 years.
That is MORE plausible than my idea, but maybe we will see.