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00:00I want to ask about some comments Elon Musk made yesterday.
00:03He said that there is $500 to $700 billion in waste and fraud and entitlement spending.
00:09He called it, quote, the big one to eliminate.
00:12Earlier this month, he also referred to Social Security as a Ponzi scheme.
00:16Should Americans expect changes, big changes, to Social Security and Medicare?
00:21President Trump has been unequivocally clear on this.
00:23He is going to protect Social Security and Medicare benefits and Medicaid for hardworking
00:29Americans who paid into these entitlement programs and deserve those hard-earned benefits.
00:33And unfortunately, the mainstream media has taken Mr. Musk out of context.
00:38I saw a Bloomberg headline that our team actually worked on getting updated and fixed because
00:42it was so wrong, and it took Mr. Musk out of context.
00:46What he was specifically referring to cutting was the waste and the fraud and abuse that
00:51does exist in these programs.
00:53According to an IG report from the Social Security Administration, there's more than
00:57$70 billion of fraud in the Social Security program alone that we know of.
01:03And so the president will continue to protect these programs for hardworking Americans.
01:07And actually cutting the waste, fraud and abuse out of these programs will protect it
01:11for hardworking Americans.