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Coin Edition 2025-05-06 15:30:00

Former SSA Chief O’Malley: Social Security Isn’t a Ponzi, But Bitcoin Might Be

Former SSA Chief O’Malley: Social Security Isn’t a Ponzi, But Bitcoin Might Be

O’Malley defends Social Security as Gen Z turns to Bitcoin amid DOGE cuts and trust collapse Trump-era DOGE department blamed for SSA crisis after mass layoffs and office closures Bitcoin jab from O’Malley sparks debate as retirement-age doubts fuel crypto adoption In response to criticisms labeling Social Security as a Ponzi scheme, Martin O’Malley, former Social Security Administration (SSA) commissioner, firmly defended the program’s integrity. He emphasized that Social Security has been a stable and reliable system for nearly nine decades, operating on a pay-as-you-go basis where current workers fund the benefits of retirees. O’Malley noted that as long as Americans continue to work and contribute, the system remains financially sound. He also pointed out that recent economic growth has boosted the program’s finances, pushing the projected depletion of the trust fund reserves to 2035. SSA Crisis: Staff Cuts Blamed on DOGE Department This all started after significant staffing cuts and operational changes within the SSA, attributed to the Trump administration’s Department of Government Efficiency (DOGE), led by Elon Musk. These changes includ… The post Former SSA Chief O’Malley: Social Security Isn’t a Ponzi, But Bitcoin Might Be appeared first on Coin Edition .

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