Lou,
I don't disagree with you. Uncle defines Social Security as an "entitlement", it isn't my definition.
And with 20/20 hindsight, which we are all blessed with, yes, there could have been better places to invest that money.
We can't fix the past, hopefully we will learn from the mistakes of the past (evidence of this learning seems to be sadly lacking) and try not to repeat them.
Governments perform some interesting gyrations to get the numbers they want. Reagan was trying to get unemployment down (hot button issue back then) so someone had the bright idea to classify everyone in the military as "employed". It worked, the numbers came out right where they wanted them. Technically, they WERE "employed", but the unemployment figures refer to civilian employment. Measuring the other way, there's very low unemployment in North Korea . . .
Best Regards,
Mike/Florida