Elon Musk's Government Efficiency Commission has sparked concerns about its impact on Social Security, a program relied upon by millions of Americans for retirement and disability benefits.
Social Security's financial concerns stem from an imbalance between funding inflows and outflows, with the trust fund projected to run out of funds in approximately eight years.
Musk's commission has been criticized for targeting waste, fraud, and abuse, which while existent, are estimated to constitute only 0.84% of benefits paid.
The main challenge facing Social Security is the imbalance between the number of younger workers supporting a growing number of older retirees.
Possible solutions include tax increases, benefit reductions, or a combination of both.
Musk's commission lacks the authority to implement changes but could play a role in shaping public opinion and putting pressure on Congress.
However, concerns remain that the commission's true purpose is to identify savings to finance tax cuts proposed by President Trump.