Tesla and SpaceX CEO Elon Musk is now openly declaring his plan to slash hundreds of billions of dollars from earned benefits programs like Social Security and Medicare.
During a recent appearance on Fox Business, Musk told host Larry Kudlow that he remains committed to his goal of enacting steep cuts to Americans' retirement income and health insurance. He noted that "most federal spending is entitlements," which is a catch-all used to describe mandatory spending obligations like Social Security, Medicare and veterans' benefits.
"That's the big one to eliminate," Musk said. "That's, sort of, half trillion, six or seven hundred billion a year."
READ MORE: Musk hints at cutting $500 billion from 'entitlements' like Social Security and Medicare
He also asserted without evidence that Democrats were enticing "illegal immigrants" to come across the border "by essentially paying them" Social Security money in exchange for their votes. This claim has been debunked, with Portland, Oregon NBC affiliate KGW reporting that "undocumented immigrants are not eligible for Social Security and Medicare benefits." The Social Security Administration (SSA) has stated that while some immigrants can receive benefits, they must prove a "lawful presence."
"This is why the Democrats are so upset about the situation," Musk said. "If we turn off this giant money magnet for illegal immigrants, then they will leave. And they will lose voters."
In response to Musk's comments, Alex Lawson — who is executive director of the advocacy group Social Security Works — slammed the South African centibillionaire's efforts to "destroy" Social Security. He added that if the tech magnate followed through on his promise, he would experience the "ferocity" of the American public.
"Our Social Security system is the opposite of everything Elon Musk is. It embodies the best of American values. It rewards hard work, playing by the rules, and delaying gratification," Lawson told AlterNet. "At its core, it is an intergenerational promise of empathy and understanding that we all do better when we all do better."
READ MORE: Senator schools Elon Musk on 'what makes America great' after billionaire calls him a 'traitor'
Musk's comments to Kudlow come just weeks after the CEO's address to the Conservative Political Action Conference. In February, Musk argued to NewsMax host Rob Schmitt, who interviewed him onstage, that Social security was rife with hundreds of billions of dollars in "waste." He suggested that he may cut Social Security by roughly $500 billion per year.
"People ask how can you find waste in D.C., it's like being in a room and the wall, the roof and the floors are all targets," Musk said. "You can shoot in any direction. You can't miss."
President Donald Trump has empowered the world's richest man to cut spending across the board at multiple federal agencies as part of his Department of Government Efficiency, or DOGE. When DOGE representatives went to the SSA, however, Michelle King —the Trump-appointed acting commissioner of the agency — was effectively forced out of her role when she refused to hand over sensitive data to DOGE employees. King was replaced by Leland Dudek, who the Washington Post reported had heaped praise on DOGE on his social media channels.
Watch the video of Musk's comments below, or by clicking this link.
READ MORE: 'Time to think of Plan B': Musk ripped after forcing out Social Security chief
Elon Musk reiterated his intention to destroy programs like Social Security, which he has called a Ponzi scheme: "Most of the federal spending is entitlements... that’s the big one to eliminate."
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— More Perfect Union (@moreperfectunion.bsky.social) March 10, 2025 at 5:05 PM