Musk's cuts to Social Security could harm retirees' services

There are concerns about upcoming changes to the Social Security Administration that could affect millions of retirees. Elon Musk and his Department of Government Efficiency are pushing for cuts at the agency. This could mean losing about 12% of the workforce and reducing the number of offices. Social Security is crucial for many Americans. It provides financial support to around 73 million retired and disabled individuals, sending out more than $126 billion each month. The program ensures retirees will have benefits adjusted for inflation, but recent remarks from Musk have raised alarms. Musk has referred to Social Security as "the biggest Ponzi scheme of all time." He claims the system has waste and fraud, including payments made to deceased individuals. However, experts disagree with his assessment. Research has shown that Social Security is not a Ponzi scheme and emphasized that there is no significant issue with dead people collecting benefits. Problems such as a long-term funding gap remain. This gap arises mainly because people are living longer and fewer children are being born. Income inequality has also increased since major reforms were made in 1983. Some high earners do not pay payroll taxes on all their income. There are viable options on how to improve Social Security's funding. The focus should be on these solutions to ensure benefits will continue for current and future retirees. In the meantime, those using Social Security are advised to keep good records and prepare for possible longer wait times when dealing with any issues.