Overview

• Elon Musk, in a Fox Business interview, suggested eliminating up to $700 billion annually from federal entitlement programs, including Social Security and Medicare.
• Musk described Social Security as a 'Ponzi scheme' and alleged widespread fraud, though experts dispute his claims of $700 billion in annual fraud.
• The Department of Government Efficiency (DOGE), led by Musk, has already closed Social Security offices and reduced staff, raising concerns about access to benefits for seniors.
• Critics, including Sen. Bernie Sanders, warn these moves could lead to privatization and undermine public confidence in the programs.
• Musk also controversially linked entitlement spending to attracting undocumented immigrants, a claim widely debunked by experts.