Earlier this week, Elon Musk reported how many social security numbers are still active by age brackets.
They (DOGE) discovered that Social Security (the American retirement fund) has over 400 million active numbers — 50 million more than the entire U.S. population.
Among them, 12 million belong to people over 120 years old. Yet, the world record for the oldest living person is currently 116 years old.
For the record, the Social Security program is insolvent, and unless there is a massive cash injection, it will collapse by 2033.
This means an entire generation of Americans — between 10 and 55 years old today — will have contributed their entire careers into the program, paying an average of $369,000, and will receive $0 in return.
If instead of Social Security, they had invested that same amount themselves in the S&P 500, they would have an average of $2.3 million for retirement.
Where did the difference between that $2.3M and the $0 go?
In the pockets of the 12M people who are older than the oldest person in the world, perhaps?
Why did no one look into these numbers before?
I don’t know. Probably the total incompetence of the boomers who are completely disconnected from the economic destruction they’re inflicting on the average American and who should likely get fired immediately.
This is why the DOGE program is absolutely essential and why any modern economy that wants to stay competitive should do the same.
