Politicususa is without advertising due to the support of readers like you. Please consider supporting our work by becoming a subscriber.
Elon Musk recently made Joe Rogan’s podcast and spoke of Social Security:
Well, I mean, the great government of the government of the government of the government if you ask me. Social security is, is the biggest ponzi system of all time. Oh, so, uh, well, people pay social security, uh, so you immediately pay from social security. Outside, uh, the, fiscal revenue far.
If you’ve looked at the debt, the debt clock, it’s okay. There is, there is, there is our current debt, but there are then our future obligations. Thus, when you look at future social security obligations, Uh, real national debt is like double what, what people think it is because of future obligations.
Uh. So, fundamentally, people live much longer than expected. Uh, and, uh, there are fewer babies born, so you have more people who are retired and get this, who live for a long time and obtain retirement payments. Therefore the future obligation. So, however, however, as serious as the financial situation is currently for the federal government, it will be much worse in the future.
Social Security is not a PONZI program because each American worker since the program was created has paid the system. There is no one who does not pay the system and gets its advantages when they reach retirement age.
Musk demonstrated his fundamental ignorance on the functioning of the most basic government programs.
Representative Alexandria Ocasio-Cortez (D-NY) has torn the musk on X: