If there’s one thing Elon Musk loves more than disrupting industries, it’s disrupting facts. During his recent appearance on Joe Rogan’s podcast, the White House adviser declared Social Security to be “the biggest Ponzi scheme of all time.

An April 2024 government report said that there could be $233 billion to $521 billion in fraud annually across the federal government, not just mandatory programs including Social Security. Government reports have suggested ways for the Social Security Administration to reduce fraud,