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Elon Musk Raises Alarm Over Social Security

Elon Musk has raised concerns about the sustainability of Social Security, suggesting that the program might face significant challenges by 2032. In a tweet, Musk highlighted a Newsweek article discussing the potential insolvency of Social Security, which could lead to benefit cuts if no legislative action is taken. The article points out that the Social Security trust fund is projected to be depleted by 2032, after which incoming payroll taxes would only cover about 75% of scheduled benefits. Musk's comments come amidst broader discussions on the financial health of entitlement programs, with some experts advocating for reforms like raising the retirement age or increasing payroll taxes to address the looming shortfall. His mention of Dogecoin in the same context might be a playful nod to alternative financial systems or cryptocurrencies, though it primarily underscores his concern for traditional financial safety nets.

Read the Full Newsweek Article at:
[ https://www.newsweek.com/elon-musk-raises-alarm-social-security-doge-2032052 ]