Billionaire entrepreneur Elon Musk called Social Security "the biggest Ponzi scheme of all time" during his latest appearance on The Joe Rogan Experience.
In the three-hour conversation released Friday, Musk argued that the entitlement program is putting the federal government in a financial bind, citing longer life expectancy and declining birth rates as key issues.
"Basically, people are living way longer than expected, and there are fewer babies being born," Musk told Rogan. "So you have more people who are retired and live for a long time and get retirement payments."
A 2024 federal report estimated that Social Security's trust funds could be depleted by 2035, reinforcing concerns about the program's long-term sustainability.
Musk's comments were part of a broader discussion about government spending and his role in the Department of Government Efficiency (DOGE)—the federal agency he advises under President Donald Trump's administration. He also touched on the downsizing of federal programs, foreign aid cuts and his belief that AI will soon outpace human intelligence in government functions.
While some critics dismissed Musk's Social Security remarks as alarmist, his supporters argue that reforming entitlement programs is a necessary conversation as the U.S. faces mounting debt and financial challenges.
"However bad the financial situation is right now for the federal government, it'll be much worse in the future," Musk warned.
© 2025 Latin Times. All rights reserved. Do not reproduce without permission.
