Liberals (in both parties) have been promising Seniors for 70 years, that they will pay them ever-increasing amounts to retire on - amounts they never had the slightest hope of paying over the long term.
And they have been taking the "contributions" of those seniors for an equally long time, only to spend them on other things and leaving IOUs in their account, to be paid for by future tax increases or massive borrowing. Only rampant borrowing has kept the entire scheme afloat till now.
Now, the American people have finally had enough of borrowing AND tax increases, and have started to elect new representatives who are sent to Congress to stop at least the tax increases. Unfortunately for the liberals, those new representatives actually remember why they were sent there, and have acted on it as their constituents directed.
Meanwhile, the Seniors, who have been living this lie for several generations now, have structured their lives and retirement plans around the promises of supplemental payments made to them by government, regardless of how impossible those promises would eventually turn out to keep.
Now, with tax increases stopped and borrowing under increasing pressure, the liberals (still in both parties) are faced with the unenviable task of explaining to the Seniors why the money they paid in is gone and how the payments they were promised, can't be made.
Liberals have painted themselves into a corner, and there is nobody to help them out of it.