Elon Musk calls Social Security a 'Ponzi scheme,' sparking Dem concerns over key benefit

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Elon Musk calls Social Security a 'Ponzi scheme,' sparking Dem concerns over key benefit

^{Published on 2025-03-02 16:21:19 - MSN}

The world's richest man argued that the retirement and disability benefit system poses a significant financial risk to America's future.

Elon Musk recently described Social Security as a "Ponzi scheme" in a tweet, igniting a debate over the sustainability and structure of this key U.S. social benefit program. His comments have raised concerns among Democrats, who fear that such statements could undermine public trust in Social Security, a program critical for millions of retirees. Musk's critique focuses on the system where current workers' contributions fund current retirees' benefits, suggesting it's unsustainable in the long term due to demographic shifts like an aging population and lower birth rates. This has led to discussions about potential reforms to ensure the program's future, with some Democrats defending the system's importance and others acknowledging the need for adjustments to maintain its solvency.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/news/politics/elon-musk-calls-social-security-a-ponzi-scheme-sparking-dem-concerns-over-key-benefit/ar-AA1A5QSZ ]

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Elon Musk calls Social Security a 'Ponzi scheme,' sparking Dem concerns over key benefit