There are LOTS of simple financial transactions with fees of 0.2% or more, not even counting "hidden" fees. In this context the low administrative expenses of SSA, now down to 0.5% of total outgo, are a brilliant success! The delivery of SocSec checks is NOT a simple financial transaction: Eligibility has to be confirmed for one thing, back checks are issued as needed, and so on. For comparison, the figure averaged 1.2% during the Reagan years, and was 2.3% in 1958.
Dealing with SocSec bureaucracy may be annoying, but dealing with private companies is often annoying. All in all, the 0.5% overhead of SocSec represents EFFICIENCY. That figure is the average across ALL payments managed by SSA; the number is slightly lower even than that if only OASI (the Old-Age and Survivors Insurance Trust Fund) is considered.
And Musk intends to fire 20% of SSA personnel. WHY is he doing that,
@RVonse ? If the 20% fired were doing
absolutely NOTHING then I suppose the already low 0.5% administrative cost would reduce to just 0.4%. Is that the idea?
I'm worse off than you are because I still work at 67 and not because I have to. I see a big nightmare if and when I begin to start drawing my social security Ill be lucky to find someone just to get it started. At least you are active on the computer rolls. And at least you can say you have collected something back from it so far before it falls apart.
And it will fall apart with or without Musk's help.
I am baffled. To take your words literally. you worry that you may have trouble initiating your SocSec in future, despite being legally entitled to it. Is that correct? "Will fall apart with or without Musk's help." WHAT do you think you're talking about? The firings are likely to affect you -- even just a few weeks into Musk's makeover, there is anecdotal evidence of increased snafu's due to chaos. The only question is whether causing such chaos is DELIBERATE, or just a result of Musk/DOGE stupidity.
Is the "problem" you worry about that your SocSec will be paid with "fake money" instead of "real money"? I push a few buttons on an ATM machine and walk away with genuine-looking banknotes. It may be "fake" money in your opinion but people here seem delighted to accept it.
Musk is deliberately trying to sabotage systems like SSA. (If not, then what is the purpose of firing 20% of SSA personnel?) Although you brag "not because I have to" you foresee "a big nightmare" and will "be lucky to find someone just to get it started." If I take your words at face value, you should want SSA to hire MORE people.
I am baffled.
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I hope it's not rude to say that some of your views seem ill-considered. You blame "Democratic lies", rather than Trump-Musk malfeasance, for some government woes. I asked you to read some articles and opinions that might challenge your thinking. Can you point to SPECIFIC lies in any of those articles you've read so far?