As Elon Musk, and his DOGE team, continue to slash funding, jobs, and offices across Social Security, their claims about the program are especially troubling.

The involvement of Antonio Gracias, an investor who has known Elon Musk for two decades, suggests that Mr. Musk has made overhauling the Social Security Administration a priority.

A Ponzi scheme "is a fraud intended to mislead investors," said Christina C. Benson, an Elon University associate professor of business law. "Social Security is a legally mandated system that has been in place since the 1930s to serve as a critically important social safety net that allows working Americans to save towards retirement."