Did they just bank on being able to extract more cash from then-future workers at the ballot box?
The coming automatic Social Security benefit cuts will reduce the primary deficit by 70% in 2036, per the CBO.
Some? The government has been saying the trust fund would be exhausted around 2030 for the past thirty years.
https://www.ssa.gov/history/reports/trust/1995/trig.html
This isn’t unexpected. Current retirees have had decades to prepare for the coming benefit reductions.