Once the rest of the world flees our debt auctions entirely, it will be mandated that your private 401k or pension invest, say 25% of its value, in government bonds.That will delay bankruptcy by a year or two, while destroying the 401k system and causing a backlash at the polls.
It's easier to continue monetizing debt, and lazy, timid politicians always choose the easy way out.
It's not about the money or about delaying bankruptcy - it's always about control. The percentages will increase as need be to prop up SS and to further "equalize" the retirements of Americans.
Nobody will be left ahead. (except for our rulers)