What does one have to do with the other?
How social security is invested has nothing to do with government waste. Social Security, by law, can only invest in federal debt securities (treasuries and social security specific forms of treasuries).
Waste. No waste. It does not change how The Social Security Trust Fund is invested. Hell, if SS were to be allowed to invest in stocks imagine the idiotic political campaigns we would have to listen t. "Politician XYZ wants to take your hard earned retirement money away from you and GAMBLE it on Wall Street." That is an actual ad I listened to over and over again this election cycle.