UncleWiggly does have a point. Most of his last paragraph is 100% correct. As to the loss, it depends on his personal variations in time and returns. I can say that it was a mandated deduction from his income, he has every right to expect a return, whether that return has increased from the contributions is also debatable, but he should get back at least what he's put in.

I can say that I too am not dependent on SS, now or in the future. I can say that from my experience, working 35 years in a middle income job, making my mandatory contributions to SS and Medicare, my numbers are higher than what you projected in your estimates. I began making detailed records of income and expenses about halfway through my career. So, in the last 18 years, of those 35 years, my contributions were $120K, and the employers match was another $120K. Making the assumption that the first 17 years was about half that, the account should be around $360K. I doubt I will see that much between 65 and 78, or even longer should that be the case.

Ponzi scheme? Yes 100%. Reason to blame a generation? Not in the least. Is the government's malfeasance a reason to steal more money from a generation? Also no.