On Tue, 08 Mar 2011 15:25:49 -0600, Don Foreman
wrote:



If I redeem my U.S. Savings bonds, from an accounting point of view
the payment to me would be a "cost to society", just as the money I
paid for them was a "credit to society".

Matter of fact, that redemption would not be a cost to society. It'd
be repayment of a loan to the treasury.

A "cost to society" is a financial burden that must somehow be met by
the treasury, either by borrowing as in creating debt for our children
and grandchildren, or by taxation which doesn't buy votes from the
mass populace who think the government should support them rather than
the other way round.

Since the government imposed the plan with mandatory payroll deduction
of taxes to support it, it is incumbant upon the government to make
the plan work when claims occur and are paid as promised. This is
only a "cost to society" if the government or bureaucracy
administering the plan is incompetent or malfeasant.

More to my point, a legitimate claimant should not be labelled as a
"cost to society" before paid services per social contract exceed the
present value of mandated periodic investment and accrued interest of
self and supporting spouse over 45 years.