As a result of Donald Trump and Elon Musk’s apparent declaration of war against the welfare state, the future of Social Security in the United States of America is currently uncertain.
Cuts have been made by the government department that Musk oversees, and these cuts have the potential to have a significant impact on individuals who rely on Social Security to get through each month.
Now, Marton O’Malley, who once served as the head of the Social Security Administration, has asserted that the reductions in DOGE could result in the complete collapse of the system by April 2025.
“Ultimately, you’re going to see the system collapse, and there will be an interruption of benefits,” Martin O’Malley, former Social Security commissioner under the Biden administration stated. “I think that will happen within the next 30 to 90 days.”
“People should start saving now,” he said.
Retirees, handicapped individuals, and survivors are eligible to receive monthly benefits from Social Security, which was founded in 1935 under the administration of President Franklin D. Roosevelt.
Social Security is considered to be one of the most important federal programs.
Taxes on payroll are used to finance the system, which means that workers who are currently employed contribute to the program in order to assist those who are receiving benefits.
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Regarding Social Security, what statements has Musk made?
It is Elon Musk’s contention that the system, in its current configuration, cannot be maintained.
He made the point that the program is under an increasing amount of financial strain as a result of the fact that fewer people are entering the workforce, retirees are living longer, and they are collecting benefits for longer periods of time.
“There are fewer babies being born,” Musk stated, “and you have more people who are retired that live for a long time and get Social Security payments.”
In addition, he has asserted in the past that millions of deceased Americans are still receiving benefits, despite the fact that fact-checkers have deemed this assertion to be an exaggeration.
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A study that was issued in 2024 by the inspector general of the Social Security Administration discovered that less than one percent of all payments made by the Social Security Administration were deemed to be unlawful.
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