The White House has responded to concerns over potential cuts to Social Security, Medicare, and Medicaid after Elon Musk suggested that his administration's US DOGE Service might target waste and fraud within these programmes.
Speaking in a Fox Business interview on Monday, Musk claimed that &ldquo;waste and fraud&rdquo; in entitlement spending could be reduced, estimating potential savings of &ldquo;half a trillion, maybe 600 to 700 billion a year.&rdquo;&nbsp;
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White House Press Secretary Karoline Leavitt clarified on Tuesday that Musk was referring specifically to eliminating waste, fraud, and abuse within these programmes. She accused the media of taking his words &ldquo;out of context&rdquo; and added that the administration is not considering direct cuts to Social Security benefits.
<h2>What does Elon Musk think about Social Security?</h2>
Elon Musk has previously criticised Social Security, calling it a &ldquo;Ponzi scheme&rdquo; and sharing a meme describing beneficiaries as &ldquo;the Parasite Class&rdquo;. When pressed about his estimate that entitlement programmes could contain up to $700 billion in fraud, Leavitt defended Musk&rsquo;s statement, explaining that it was based on internal reviews conducted by DOGE. &ldquo;It&rsquo;s an estimate based on what he&rsquo;s seen. He&rsquo;s not saying definitively,&rdquo; she told reporters.
The administration also cited a report from the Government Accountability Office, which estimates that fraud across the entire government could range between $233 billion and $521 billion annually. However, these figures apply to all federal spending, not just Social Security, Medicare, and Medicaid.
Also read: <a href="https://www.wionews.com/world/elon-musk-claims-massive-cyberattack-after-x-twitter-outage-goes-down-worldwide-8841029">&lsquo;A country is involved&rsquo;: Elon Musk claims &lsquo;massive cyberattack&rsquo; after X goes down worldwide</a>
Government auditors have found that improper Social Security payments total around $10 billion per year, less than 1% of total benefits. In 2023, Medicare and Medicaid payment errors amounted to approximately $100 billion, though this includes clerical errors, not just fraud.
<h2>Elon Musk's comments face public&nbsp;backlash</h2>
Musk&rsquo;s comments have sparked backlash, particularly from Democrats who fear that benefit cuts may be on the horizon. Senator Elissa Slotkin (D-Michigan) took to social media, saying, &ldquo;Musk said the quiet part out loud: he&rsquo;s going after your Social Security and Medicare. Period.&rdquo;
Additionally, under DOGE&rsquo;s direction, the Social Security Administration (SSA) is preparing to lay off at least 7,000 employees. Overtime for workers processing benefit claims has been suspended, and some regional and field offices are being shut down. Democrats have warned that these changes could make it harder for Americans to access their benefits, potentially putting millions at risk.
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<h2>What is Social Security, and how many Americans benefit from it?</h2>
Social Security is a federal programme designed to provide financial support to Americans, particularly retirees, disabled individuals, and survivors of deceased workers. It is primarily funded through payroll taxes.
<h3>Benefits provided by Social Security</h3>
Retirement benefits: Monthly payments to retired workers based on their earnings history.
Supplemental Security Income (SSI): Financial assistance for low-income individuals aged 65 and older.
Disability Insurance (SSDI): Support for those unable to work due to disability.
Eligibility is based on work history, with payroll taxes deducted from most positions to fund the program.
<h2>What is Medicare, and who qualifies?</h2>
Medicare is a federal health insurance programme covering people aged 65 and older, as well as some younger individuals with disabilities or severe medical conditions.
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<h2>Medicare coverage structure</h2>
Original Medicare (Parts A &amp; B): Covers hospital care (Part A) and medical services (Part B).
Medicare Advantage (Part C): Private insurance plans offering additional benefits beyond Original Medicare.
Medicare Prescription Drug Coverage (Part D): Helps cover medication costs.
<h3>Medicare eligibility</h3>
Aged 65 and older: Most people qualify based on work history and payroll tax contributions.
Younger individuals with disabilities: Those receiving Social Security Disability benefits.
End-Stage Renal Disease (ESRD) and ALS patients: Automatically eligible regardless of age.
<h2>How many Americans rely on these programmes?</h2>
In 2024, approximately 68 million Americans received Social Security benefits, including retirees, disabled workers, and survivors.
As of 2024, 61.2 million people were enrolled in Medicare Parts A and B. Meanwhile, 32.8 million people were enrolled in Medicare Advantage plans, making up over half of all Medicare beneficiaries.
(With inputs from agencies)

World: Elon Musk has previously criticised Social Security, calling it a “Ponzi scheme” and sharing a meme describing beneficiaries as “the Parasite Class”.

The White House has responded to concerns over potential cuts to Social Security, Medicare, and Medicaid after Elon Musk suggested that his administration's US DOGE Service might target waste and fraud within these programmes. Speaking in a Fox Business interview on Monday, Musk claimed that “waste and fraud” in entitlement spending could be reduced, estimating potential savings of “half a trillion, maybe 600 to 700 billion a year.” Also read: WATCH: Donald Trump buys new Tesla, says didn't ask Elon Musk for discount; 'Get in, patriots' White House Press Secretary Karoline Leavitt clarified on Tuesday that Musk was referring specifically to eliminating waste, fraud, and abuse within these programmes. She accused the media of taking his words “out of context” and added that the administration is not considering direct cuts to Social Security benefits. What does Elon Musk think about Social Security? Elon Musk has previously criticised Social Security, calling it a “Ponzi scheme” and sharing a meme describing beneficiaries as “the Parasite Class”. When pressed about his estimate that entitlement programmes could contain up to $700 billion in fraud, Leavitt defended Musk’s statement, explaining that it was based on internal reviews conducted by DOGE. “It’s an estimate based on what he’s seen. He’s not saying definitively,” she told reporters. The administration also cited a report from the Government Accountability Office, which estimates that fraud across the entire government could range between $233 billion and $521 billion annually. However, these figures apply to all federal spending, not just Social Security, Medicare, and Medicaid. Also read: ‘A country is involved’: Elon Musk claims ‘massive cyberattack’ after X goes down worldwide Government auditors have found that improper Social Security payments total around $10 billion per year, less than 1% of total benefits. In 2023, Medicare and Medicaid payment errors amounted to approximately $100 billion, though this includes clerical errors, not just fraud. Elon Musk's comments face public backlash Musk’s comments have sparked backlash, particularly from Democrats who fear that benefit cuts may be on the horizon. Senator Elissa Slotkin (D-Michigan) took to social media, saying, “Musk said the quiet part out loud: he’s going after your Social Security and Medicare. Period.” Additionally, under DOGE’s direction, the Social Security Administration (SSA) is preparing to lay off at least 7,000 employees. Overtime for workers processing benefit claims has been suspended, and some regional and field offices are being shut down. Democrats have warned that these changes could make it harder for Americans to access their benefits, potentially putting millions at risk. Also read: Airtel partners with Musk's SpaceX to bring Starlink satellite internet services into India What is Social Security, and how many Americans benefit from it? Social Security is a federal programme designed to provide financial support to Americans, particularly retirees, disabled individuals, and survivors of deceased workers. It is primarily funded through payroll taxes. Benefits provided by Social Security Retirement benefits: Monthly payments to retired workers based on their earnings history. Supplemental Security Income (SSI): Financial assistance for low-income individuals aged 65 and older. Disability Insurance (SSDI): Support for those unable to work due to disability. Eligibility is based on work history, with payroll taxes deducted from most positions to fund the program. What is Medicare, and who qualifies? Medicare is a federal health insurance programme covering people aged 65 and older, as well as some younger individuals with disabilities or severe medical conditions. Also read: 'Not helping': US slams India for 150% tariff on American alcohol, says 'Trump believes in reciprocity' Medicare coverage structure Original Medicare (Parts A & B): Covers hospital care (Part A) and medical services (Part B). Medicare Advantage (Part C): Private insurance plans offering additional benefits beyond Original Medicare. Medicare Prescription Drug Coverage (Part D): Helps cover medication costs. Medicare eligibility Aged 65 and older: Most people qualify based on work history and payroll tax contributions. Younger individuals with disabilities: Those receiving Social Security Disability benefits. End-Stage Renal Disease (ESRD) and ALS patients: Automatically eligible regardless of age. How many Americans rely on these programmes? In 2024, approximately 68 million Americans received Social Security benefits, including retirees, disabled workers, and survivors. As of 2024, 61.2 million people were enrolled in Medicare Parts A and B. Meanwhile, 32.8 million people were enrolled in Medicare Advantage plans, making up over half of all Medicare beneficiaries. (With inputs from agencies)

‘Ponzi scheme?’ Musk wants to target ‘waste’ in Medicare, Social Security - Here’s why they matter to millions

In a major victory for US President Joe Biden ahead of November's crucial midterm elections, the Senate has passed the climate and health bill worth $750 billion.

Marking the biggest investment in US history in the fight against climate change, the bill proposes a series of financial incentives aimed at steering the world's biggest economy away from fossil fuels.

For example, every American who buys an electric vehicle will be allotted up to $7,500 in tax credits and anyone installing solar panels on their roof would see 30 per cent of the cost subsidised.

From wind turbines to the processing of minerals needed for electric car batteries, around $60 billion would be allocated for clean energy manufacturing.

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Through grants for home renovation to improve energy efficiency and access to less polluting modes of transportation, the same amount would go towards programs to help drive investment in underprivileged communities.

In comparison to 2005's levels, the bill aims to help the United States reduce its carbon emissions by 40 percent by 2030.

By reining in skyrocketing prescription drug prices, the bill will help reduce the huge disparities in access to health care across the United States.

In order to yield better results, the nation's health insurance plan for those aged 65 and older, Medicare could be permitted to negotiate prices of certain medications directly with Big Pharma for the first time.

If the prices rise faster than soaring US inflation the plan would require pharmaceutical companies to offer rebates on certain drugs.

Extending benefits under Barack Obama's signature Affordable Care, the bill will ensure cheaper prescription drugs.

Seeking to pare down the federal deficit through the adoption of a minimum corporate tax of 15 percent for all companies, the Inflation Reduction Act will prevent certain massive firms from taking undue advantage of tax havens to pay far less than what they theoretically owe.

Over the next 10 years, the measure could generate more than $258 billion in tax revenue for US government coffers, according to estimates.

(With inputs from agencies)

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&nbsp;

In a major victory for US President Joe Biden ahead of November's crucial midterm elections, the Senate has passed the climate and health bill worth $750 billion.

In a major victory for US President Joe Biden ahead of November's crucial midterm elections, the Senate has passed the climate and health bill worth $750 billion. Marking the biggest investment in US history in the fight against climate change, the bill proposes a series of financial incentives aimed at steering the world's biggest economy away from fossil fuels. For example, every American who buys an electric vehicle will be allotted up to $7,500 in tax credits and anyone installing solar panels on their roof would see 30 per cent of the cost subsidised. From wind turbines to the processing of minerals needed for electric car batteries, around $60 billion would be allocated for clean energy manufacturing. × Through grants for home renovation to improve energy efficiency and access to less polluting modes of transportation, the same amount would go towards programs to help drive investment in underprivileged communities. In comparison to 2005's levels, the bill aims to help the United States reduce its carbon emissions by 40 percent by 2030. By reining in skyrocketing prescription drug prices, the bill will help reduce the huge disparities in access to health care across the United States. In order to yield better results, the nation's health insurance plan for those aged 65 and older, Medicare could be permitted to negotiate prices of certain medications directly with Big Pharma for the first time. If the prices rise faster than soaring US inflation the plan would require pharmaceutical companies to offer rebates on certain drugs. Extending benefits under Barack Obama's signature Affordable Care, the bill will ensure cheaper prescription drugs. Seeking to pare down the federal deficit through the adoption of a minimum corporate tax of 15 percent for all companies, the Inflation Reduction Act will prevent certain massive firms from taking undue advantage of tax havens to pay far less than what they theoretically owe. Over the next 10 years, the measure could generate more than $258 billion in tax revenue for US government coffers, according to estimates. (With inputs from agencies) Watch WION's live TV here: ×

What are signature elements in Biden's big climate and health bill?

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‘Ponzi scheme?’ Musk wants to target ‘waste’ in Medicare, Social Security - Here’s why they matter to millions

What are signature elements in Biden's big climate and health bill?