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AI Risks Ahead, Social Security Faces 22% Cut by 2032

7/28/2026

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Summary

Story summary

Treasury Secretary Scott Bessent told Sean Hannity he agrees with Elon Musk that AI could eliminate retirement savings, but expects it later.
Elon Musk said on the Moonshots podcast that AI will outpace human intelligence by 2030.
The 2026 Social Security Trustees Report says the trust fund will be depleted in 2032, triggering a 22 percent cut.
A 24 percent cut would lower benefits by $500 for 63 million retirees.

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Story summary

Treasury Secretary Scott Bessent told Sean Hannity he agrees with Elon Musk that AI could eliminate retirement savings, but expects it later.
Elon Musk said on the Moonshots podcast that AI will outpace human intelligence by 2030.
The 2026 Social Security Trustees Report says the trust fund will be depleted in 2032, triggering a 22 percent cut.
A 24 percent cut would lower benefits by $500 for 63 million retirees.