As the national debate intensifies over the solvency of Social Security, Truth in Accounting (TIA) is urging policymakers and the public to look deeper: beyond “trust fund” projections and into the silent erosion of benefits through inflation.

TIA board member Chuck Chokel has compiled a sobering analysis of the dollar’s decline over three overlapping 50-year periods. His findings illustrate that even if Social Security checks keep coming, their purchasing power has steadily—and dramatically—shrunk:

• 1925–1975: $100 in 1925 had the purchasing power of $33.21 in 1975, representing a 67% decrease in purchasing power.
   

• 1950–2000: $100 in 1950 was worth just $13.92 in 2000, a decrease in purchasing power of 86%.

• 1975–2025: $100 in 1975 is worth only $16.40 in 2025, representing an 84% decrease in purchasing power.
   

• Since 1925, the dollar has lost 95% percent of its purchasing power.
   

“These numbers tell a devastating story,” said Sheila A. Weinberg, Founder and CEO of Truth in Accounting. “The dollar has been consistently devalued across generations, yet elected officials and media rarely discuss that a $100 Social Security benefit in 1975 has the purchasing power of only $16.40 today, an 84% decline.”

“Even if the checks arrive on time, what will they be worth?” Chokel asks. “We’re fighting over numbers on paper while ignoring what those numbers can actually buy.”

Truth in Accounting argues that inflation is effectively a stealth benefit cut for retirees, one that doesn’t require a vote or legislation—just continued fiscal and monetary mismanagement.

The organization urges lawmakers to confront this issue directly by integrating real (inflation-adjusted) value assessments into Social Security projections and government financial statements. Without doing so, any promise made in dollars risks being hollow. 

The numbers in this article were calculated using the government’s U.S. Bureau of Labor Statistics CPI Inflation Calculator.