In a recent tweet, Musk replied to a meme comparing Social Security to a Ponzi scheme, a fraudulent investment scheme. He added, “Maybe AI and robots will save it though.”
The tweet has sparked debate, with some people agreeing with Musk’s assessment and others defending Social Security as a vital safety net for many Americans.
Concerns about the long-term viability of Social Security have been raised in recent years, with some experts predicting that the fund will only be able to disburse 77% of the total scheduled benefits by 2033. However, a recent Gallup survey shows that Americans are more optimistic about the future of Social Security than they have been in recent years, with 50% of nonretired Americans expecting to receive benefits.
The full retirement age for retirees in the U.S. is 67 for those born in 1960 or later, and the average retirement age is 64.
