"It’s a vital lifeline for millions" - Uproar erupts as Elon Musk calls U.S. Social Security "biggest Ponzi scheme of all time" on Joe Rogan's show

Elon Musk didn't mince words during his recent appearance on The Joe Rogan Experience while talking about United States Social Security. Musk's strong comments have drawn fierce contrasting views from netizens.

During the interview, Musk issued piercing remarks against Social Security's alleged financial unsustainability due to increasing life expectancy and declining birth rates. He claimed that the program relies on current workers funding retirees.

In his opinion, the structure becomes unstable over time when fewer young workers support an ageing population. Moreover, he also pointed to factors like growing national debt and future financial obligations as reasons why Social Security’s current model is unsustainable. Speaking on episode #2281 of Joe Rogan's podcast, Musk said:

"I mean, the government one's a big pyramid scheme. Well, you can tell Social Security is the biggest Ponzi scheme of all time. Well, people pay into Social Security, and the money goes out of Social Security immediately, but the obligation for Social Security is your entire retirement career. If you look at the future obligations of Social Security, it far exceeds the tax revenue.”

He added:

"There's our present-day debt, but then there's our future obligations. So when you look at the future obligations of Social Security, the actual national debt is like double what people think it is, because of the future obligations. Basically, people are living way longer than expected, and there are fewer babies being born, so you have more people who are retired and that live for a long time and get retirement payments."

Check out Elon Musk's comments below:

Several fans took to X to react to Musk's comments and wrote:

"Elon Musk and Joe Rogan calling Social Security a 'Ponzi scheme' is reckless. It’s a vital lifeline for millions, not a scam. Musk’s DOGE cuts could gut it, 50% SSA layoffs? That’s not efficiency, it’s sabotage. We need to fix, not trash, this program."

"Why does Elon Musk never speak against the republican budget plan that calls for a 4.5 trillion dollar tax cut for the wealthy?"

"World’s richest man doesn’t want the working class to be able to retire, go figure."

"The problem with social security is the messaging; the government sold it as one thing but in reality it’s a different thing. Social security and Medicare both bring tremendous value to society, no one should ever touch it."

Check out some of the fan reactions to Elon Musk's comments below:

Fans react to Elon Musk's comments about Social Security. [Screenshots courtesy: @MorePerfectUS on X]