Social Security has never missed a benefit payment since the program first began sending individuals monthly benefits more than eight decades ago.
But the recent actions at the U.S. Social Security Administration by Elon Musk’s so-called Department of Government Efficiency are putting monthly benefit checks for more than 72.5 million Americans at risk, former commissioner and former Maryland Gov. Martin O’Malley told CNBC.com.
“Ultimately, you’re going to see the system collapse and an interruption of benefits,” O’Malley said. “I believe you will see that within the next 30 to 90 days.”
Ahead of any interruption in benefits, “people should start saving now,” O’Malley said.
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