Personal Finance

Elon Musk's Comments on Social Security Spark Democratic Backlash

Christy Bieber

Published: March 19, 2025 8:56 am

Elon Musk has had some unflattering things to say about Social Security recently. In fact, the billionaire went on Joe Rogan’s podcast and claimed that Social Security is “the biggest Ponzi scheme of all time.” 

Musk has also made clear he believes there is “massive fraud” going on within Social Security with dead people receiving benefits. And, he thinks there is considerable waste going on the benefits programs, stating, “most of the federal spending is entitlements. So that’s like the big one to eliminate. That’s the sort of half trillion, maybe $600, $700 billion a year.”

These comments have caused considerable concern among Democrats, many of whom believe Musk’s comments suggest the Department of Government Efficiency (DOGE) and the Trump Administration could be coming for Americans’ benefits despite assurances to the contrary. 

Democrats speak out against Musk’s anti-Social Security rhetoric 

Democrats have been struggling to respond to the Trump Administration’s onslaught on the federal government, as leaders try to decide which battles to pick while DOGE and other agency officials make aggressive moves every day to dismantle the bureaucracy.  The fight over  Social Security is one lawmakers on the left seem eager to have, though. 

“Now we know that something we Senate Democrats have feared for a long time is coming true,”  Senate Minority Leader Chuck Schumer stated at a news conference on Capitol Hill. “Social Security is under attack and at risk.” Schumer also addressed the comments on the Rogan Podcast, saying “Elon Musk says it’s a Ponzi scheme. The richest man in the world is telling Americans that earned benefits that they depend on and they paid into are a scam. They are not a scam. And Americans know it.”

Leaders on the left have been especially quick to speak out in opposition as the Administration has begun making specific moves, including many Democrats taking a strong stand against reduced services amidst rumors that some telephone services could be interrupted. And, as DOGE has set its sights on substantially reducing the workforce at the Social Security Administration, these staffing changes have also been heavily opposed by Democratic leadership. 

Schumer has also made clear that Democrats absolutely will not sit by and allow cuts to benefits to occur. Speaking of the the last time a Republican lawmaker attempted Social Security reforms under the Bush Administration, Schumer said “We got together. We said we’re going to fight it, and we won. I will tell the American people, we’re getting together, House and Senate Democrats, we’re going to fight it, and guess what? We’re going to prevent the cuts.”

Are Social Security cuts actually on the table? 

While Musk and the Trump Administration are moving forward with reducing staffing levels at Social Security, President Trump and DOGE have reiterated repeatedly that the goal is to improve operational efficiencies and fight fraud to shore up the program, rather than to cut it. Further, President Trump has promised consistently since 2016 that were would not be benefit cuts. 

Although Musk’s comments provide valid reason for concern, with all eyes on DOGE and Democrats prepared to fight on this issue, hopefully these benefits will continue to be delivered as promised without interruption to the millions of seniors counting on them.