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2mo ago

Elon Musk Faces Backlash Over Social Security 'Ponzi Scheme' Comments

Critics warn of potential program cuts as GOP budget plan and Musk's task force target federal spending reforms.

Speaker of the House Mike Johnson, R-La., from left, walks with Vivek Ramaswamy and Elon Musk, who is carrying his son X Æ A-Xii, as they walk to a meeting to discuss President-elect Donald Trump's planned Department of Government Efficiency, on Capitol Hill in Washington, Dec. 5, 2024.
Elon Musk speaks at the Conservative Political Action Conference, CPAC, at the Gaylord National Resort & Convention Center, Thursday, February 20, 2025, in Oxon Hill, Maryland
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Overview

  • Elon Musk described Social Security as 'the biggest Ponzi scheme of all time' during a podcast interview, prompting sharp criticism from Democrats and advocacy groups.
  • House Speaker Mike Johnson stated that the GOP's budget plan does not explicitly target Social Security, Medicare, or Medicaid but aims to address fraud and inefficiencies in federal programs.
  • The Social Security Administration (SSA) announced plans to cut 7,000 jobs following recommendations from Musk's Department of Government Efficiency (DOGE) task force, raising concerns about staffing shortages.
  • President Trump has reiterated his pledge not to cut Social Security benefits, though skepticism remains due to Musk's significant influence in federal budget discussions.
  • Democrats, including Alexandria Ocasio-Cortez, have accused Musk of using his government influence to undermine programs that support vulnerable populations, calling for protections against potential cuts.