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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Let's not slash entitlements, but instead reduce the 100 billion dollar overhead administrative costs to deliver those benefits.  And cut out the fraud too. [/quote]
https://www.ssa.gov/oact/STATS/admin.html

SSA has overhead costs of less than 1% of their total expenditures.  Can you name any other entity, public or private, that operates that efficiently?  Yeah, didn't think so.[/quote]
Any Vanguard fund.[/quote]
Is Vanguard distributing checks to millions of people around the country?  I'm not talking financial funds, I'm talking entities that actually do things.  Like manage millions of transfer payments every month.  Vanguard is charging you that amount to have a very small number of investment professionals sit in front of a computer and make trades, which is nowhere near as complex as what the SSA does.[/quote]
Both entities get money, invest money, pay away money.

If it's so expensive to mail checks...don't. Pay via bank deposits, or issue debit cards.

(I do think the SS is pretty well run, but couldn't resist to take on your challenge above...)[/quote]
Ah, okay.  Though your comment about debit cards is interesting.  I'm a former Fed who used to work closely with budgets but now lives in California.  I recently got state-funded Short Term Disability and Paid Family Leave benefits for my maternity, which were distributed via a Bank of America card.  The list of fees associated with that card was a page long.  I actually was able to avoid paying them, but it's only because I have a good checking/savings account, an internet connection, and am able to wait 3 days for the funds to transfer (and my bank is BofA also!).  These semi-private cost-savings/efficiency measures seem to just end up costing people more in the long run.

All of that said, I dispute the premise that Vanguard is doing anything as complex as SSA, b/c they don't make payments at nearly the same scale or frequency.  But I'm glad to have provided the challenge ;)[/quote]

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