False. Because each of the dollars have a future payout attached. To evaluate honestly you must examine the NPV of future payouts and analyze accordingly.
The net present value of future Social Security payouts depends on an important variable: the discount rate. What is an investment analogous to Social Security? Government bonds? If so, the 30-year T Bill is at 2.9%.
Also, this is a tricky calculation because not all of that $959 billion will be paid out at the same time. And benefits vary according to how long retirees live.
I'm busy at the moment, but maybe I'll fool around with this later to figure the NPV of that $959 billion, using i=2.9% for the discount rate. Unless you'd like to beat me to the punch?
This is an honest discussion. You have a point, and I agree in principle, but these are complicated issues. It's why I can't stand the Tea Party types who listen to Glenn Beck, think they know everything, and dismiss individuals who favor a nuanced approach as snobbish intellectuals. Glenn Beck is a former radio shock jock with no education. He's out to take people's money by putting them in such a panic that they buy gold. The people who stand on the corner of Veterans and Causeway with signs, screaming, "Cut the budget!" are killing conservatism.
This post was edited on 12/12 at 3:02 pm