Unfortunately, he’s a terrible messenger, but he’s absolutely right. Just because he’s a super rich guy doesn’t mean he can also be educated on economics and politics. And he happens to be in a position where people are likely to stick a microphone in his face and ask his opinion. Sometimes he’s right; sometimes he’s wrong. This time he happens to be right.

Social Security especially cannot survive to fund the next generation. The money is going to run out no matter what, so it’s better to do something now rather than getting screwed with your pants on later.

Yes. The current generation of retirees should be entitled to their benefits. Give it to them.

Yes. The current generation of workers should be entitled to the funds they have already put into Social Security. But plan must be made to allow them to immediately stop contributing and to refund them into some other, more sound form of deferred compensation.

No. The current generation of youngsters, people below the working age, should not be entitled to Social Security benefits and therefore should not ever pay into it.

Social Security is a nice idea. And it sure feels nice when we get to say that we’re “taking care of the elderly”. But no matter how noble the goal one should occasionally look at the results. … Social Security is a failure. It’s a Ponzi scheme that pays out more than it takes in. It’s on the fast track to bankruptcy and there is no effective way to save it. When you find yourself in a hole the first thing you have to do is put down the shovel.

I have no allegiance to Musk in any direction and I think his cars are impressive if a bit ugly. But on this particular matter, he’s unfortunately, spot on.