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Fact Check: Social Security Does Not Increase the Deficit
The American people love Social Security, and with good reason. It protects seniors and the disabled from poverty, and it is the most important life and disability safeguard available to the nation’s 75 million children. The program is a bargain: Its administrative costs are lower than privately managed retirement plans. Social Security returns in benefits more than 99 cents of every dollar collected, whereas a typical 401(k) could easily eat up 20 cents of that dollar in fees. The program is fiscally sound and prudently managed — a policy triumph. Read more…
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