Yes, all of Social Security is now a welfare program. SSDI is doubly damaging because there isn’t even the phony accounting entry “paid in”.
BTW, a $400k 60-year annuity at 3% will indeed yield around $1200/month, but that’s almost meaningless given the inflation coming.
So each of these people are living like they had worked and saved $400,000? Must be nice. Guess we’re the fools...