65. That is correct - the stock market DOES NOT have a record of growth
that exceeds the current Soc Sec system - that is why the net net benefits projected for the new 20 year old worker for his retirement 47 years from now at at Reagans'1983 law's 67 retirement age will be less than the benefit now in the law.
The GOP ignore the subtractions - the annual expense charges, the lower return likely from "safe" investments, and indeed the history of the market of going through long multi-year periods of low return. Indeed the cost of annuitization - moving the lump sum to a monthly payout - will reflect a large slice removed for the insurance company you buy the annuity from.
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