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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]

95 percent of social security payments are made electronically, the other 5 percent are allowed to go by paper check or the Direct Express Debit card only in cases where the recipient has a documented disability and requests this or no personal bank account to use for direct deposit. The debit card is the most expensive for the government to administer given the fees, replacement costs, and cyber issues.

The real administrative costs of SSA that aren't at all comparable to Vangaurd is the costs of customer service both by phone and in thousands of walk in offices. SSA serves all Americans, unlike the higher educated and more financially sophisticated consumers who may have chosen to purchase Vangaurd funds, and they have to provide tons of special language and disability services to meet the needs of its customers. Most SSA customers are elderly and prefer to call or walk in a center rather than complete online applications. You are talking about two very different services for two very different populations. And yet SSA is extremely efficient in managing this more complex program.[/quote]

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