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Experts Warn SSA Cuts Could Trigger System Collapse

3/5/2025

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Summary

Story summary

Former Maryland Governor Martin O'Malley warns that recent SSA budget cuts could lead to a "system collapse" within 30-90 days.
Elon Musk has called Social Security a "Ponzi scheme," a claim disputed by experts and lawmakers.
The SSA plans to close offices and reduce staff from 57,000 to 50,000, raising concerns about service delays.
Democratic leaders argue these cuts threaten the stability of Social Security benefits for millions of Americans.

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Story summary

Former Maryland Governor Martin O'Malley warns that recent SSA budget cuts could lead to a "system collapse" within 30-90 days.
Elon Musk has called Social Security a "Ponzi scheme," a claim disputed by experts and lawmakers.
The SSA plans to close offices and reduce staff from 57,000 to 50,000, raising concerns about service delays.
Democratic leaders argue these cuts threaten the stability of Social Security benefits for millions of Americans.