Summary
Elon Musk announced plans to cut federal entitlement spending, claiming without evidence $500-700 billion in annual “waste and fraud” from programs like Medicare and Social Security.
Analysts dispute this figure: “There is not $500 to $700 billion of waste in benefit programs every single year ― that number is absurdly large.”
True inefficiencies lie in Medicare Advantage. Insurers overcharge the government by $80 billion annually, with government auditors finding it costs 20% more than traditional Medicare.
However, the Trump-Musk administration’s approach of closing regional HHS legal offices and appointing TV doctor Mehmet Oz to oversee Medicare suggests they may target entitlements themselves rather than merely addressing inefficiencies.
Post office, national parks, anything that can be sold and privatized to the highest bidder.