[wbill]

Of all the tinfoil-hat conspiracies that get touted as "a sure bet" here on FR, I think that what you posit is the most likely to happen - in fact, I'd call it "a sure certainty" if Dems get a majority in 2016. All those trillions of dollars, just sitting there, is just too tempting for politicians NOT to try and steal.

And sadly, I think that mainstream America would go along with it. "3%!! Guaranteed?! That's like, way more than the .1% I'm getting on my bank deposits."

[tbw2]

And it doesn’t have to be like some nations nationalizing retirement accounts all in one fell swoop.
Just limit how much people can put in 401Ks and Roth IRA have no limits on MyRa accounts invested in government bonds, though you can hold government savings bonds in a 401K or IRA.
Then see them tout the popularity of MyRa while saying we need to end 401Ks and other IRAS. I see this now with the “only the rich utilize them, scale back the tax benefits for them!”
Another option is slowly upping the percentage of the 401K and IRA accounts that must be held in federally approved “safe” investments. Start with 1-3% cash or federal bonds, then ramp up as the federal government needs more money.