Elon Musk, speaking on Fox Business, discussed potential savings in Social Security by targeting federal spending waste. He highlighted a Government Accountability Office report estimating significant fraudulent payments by the government, suggesting that cutting this waste could help preserve programs. Musk's comments elicited immediate backlash from critics, stressing the importance of protecting entitlements such as Social Security, Medicare, and Medicaid. White House officials defended the integrity of these benefits while acknowledging the need to address government waste and fraud.
Musk stated, "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, $700bn a year."
White House Press Secretary Karoline Leavitt clarified that Musk referred to cutting waste, fraud, and abuse in entitlement programs, emphasizing Trump's commitment to protect Social Security.
Musk emphasized, "We are going to be very careful with any benefits. In fact, only by tackling waste or fraud can we actually preserve those programmes for the future."
The Government Accountability Office (GAO) reported estimates of $233bn to $521bn in fraudulent payments across government annually, covering more than just Social Security and Medicare.
#elon-musk #social-security #federal-spending #government-accountability-office #entitlement-programs
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