No One Knows Whether Social Security is Safe from Musk and Trump, But There Are Some Reasons for Guarded Optimism
Social Security happens to be one of my primary areas of academic expertise, and it unfortunately has become a focus of attention in the Musk-Trump Administration. Unsurprisingly, Elon Musk seems to have heard from some bro somewhere that Social Security is a Ponzi scheme, which has excited him. (I can easily imagine him yelling "Ponzi!!" in the same way that he bellowed "Chainsaw!!" at a conference last month.) My latest column on Verdict , published in two parts yesterday and today , addresses the latest madness. The idea that Social Security is a Ponzi scheme is an especially absurd example of financial illiteracy, as I explain (again) in Part One of today's column. Part Two explains why Social Security is essential to the country and then points out that the program is almost shockingly inexpensive to run. That is why the title of the column is: "Social Security is Essential, Efficient ( Gasp! ), and Definitely NOT a Ponzi Scheme." F...