Ed Schultz took a dive off the deep end on Saturday’s The Ed Show, claiming that Social Security is a “cheap” program that “has never contributed one penny to the deficit.” The bombastic MSNBC host also blasted Republicans who support partially privatizing Social Security, arguing those lawmakers just want to “get their hands on the money.”

Schultz echoed similar arguments made by Rep. Mark Pocan (D-Wis.) and Sen. Dick Durbin (D-Ill.), who suggested that Social Security doesn’t contribute a “penny” or a “dime” to the national deficit. Both Democrats’ claims were challenged by fact-checking organizations, including PolitiFact, The Washington Post’s Fact Checker, and FactCheck.org. And while the term "cheap" is relatively subjective, few would argue that Social Security – which takes up one-fifth of the federal budget – is "cheap."