Mythology of Fear About Social Security (excerpt):
Now let's take a true measure of where we are. Social Security has been the most effective government program; it has been the most responsible government program. Social Security costs are funded out of its own dedicated revenue stream. It does not and cannot borrow money to finance its operations.
There is no deficit financing. Social Security is the epitome of Yankee frugality. It could not be better managed. Social Security returns more than 99 cents to beneficiaries on every dollar collected. I dare you to find a private investment plan that can claim that.