Perhaps our economy will go back to working the way it "used to" but I should point out that massive amounts of intervention over the last decade (i.e. "printing money") by the federal reserve have -so far- resulted in a total inability to drive inflation up to even the desired target of 2%. Maybe there is something else going on and the direct correlation between printing money and inflation is baroque.And that is what I really worry about. Between the need to pay off debt (or even just the interest on the massive debt) and the cost of other entitlements (not including SS), the easiest thing for congress to do is print money - i.e. raise inflation. They won't have to vote to cut payments, they just pay them with less valuable dollars. Of course the effect on the recipient will be the same - less purchasing power, but they're more likely to get reelected (their primary objective).
I told a buddy of mine 25+ years ago when we started putting money into our 401K, that of course I was going to do it, but had no belief that the Government would stick to their pledge and not tax or somehow take some of that money. It's too big a target not to tap. Then my understanding of inflation kicked in and I believe that is how they settle the accounts - by printing money.