‘It’s a big, gigantic, blown-up Ponzi scheme’: Tuberville says Social Security is a ‘scam’ and calls for reforms

(Senator Tommy Tuberville/Youtube)

U.S. Sen. Tommy Tuberville (R-Auburn) is pushing for major reforms to Social Security as the trust fund is expected to go bankrupt in the near future.

The senator gave a speech this week to explain why the entitlement program is moribund and how to fix it.

“It’s happening in broad daylight before our very eyes,” Tuberville said. “Politicians here in Washington know what’s going on, but they refuse to speak about it. They’re too worried about getting re-elected in most cases. And they think telling the truth about [the] scam will hurt their chances of staying in power. Well, here’s the sad truth. For decades now, the American people have paid into Social Security each month without having any idea if they will ever see a cent of the money that they put in. Since being signed in the law in 1935 by Franklin Delano Roosevelt […] Americans’ money has been going in the front door of the federal government and then going right out the back door.”

Earlier this year, the Social Security Administration released its 2026 Trustees Report, which revealed that the federal retirement safety net is less than seven years away from fiscal depletion. The Old-Age and Survivors Insurance (OASI) trust fund is expected to exhaust its accumulated reserves in 2032.

“Americans have been paying into this program for years, only to see a fraction of what they have been promised,” Tuberville continued. “It really makes you wonder how this government approved Ponzi scheme is legal. The truth is that this retirement savings, this savings program, is 100 percent broke. It’s absolutely broke. Just like our federal government with $40 trillion dollars in debt.”

Last year, the senator introduced the Senior Citizens Tax Limitation Act to stop the double tax on Social Security benefits. Some of those tax cuts were implemented with the passage of the One Big Beautiful Bill.

Tuberville also argued that allowing millions of illegal immigrants into the country during the Biden administration just exasperated the problem.

“They were handing them Social Security and Medicaid benefits as they were coming into the door,” he said. “Welcome to the United States of America. We’re broke, but we’re gonna give you money. We’re gonna give you a Social Security number. It’s no wonder we’re broke. While many of Americans will never see Social Security benefits that they worked hard to pay into throughout their careers, illegals—they’re getting money, they’re getting rich off the money that Joe Biden said that they could have. It’s disgusting, but it’s not surprising.”

Tuberville did point to some possible ways to fix the system for the American people.

“The bottom line is we need to get bureaucrats and politicians out of this mess,” he argued. “Stop this Social Security scam. Let people really know what’s going on and give the money back to the people. We need to make sure Americans get what they were promised, or we need to come up with an alternative solution that will allow Americans to make their own retirement investments, give them their money or let’s put it in a money market account.”

“Instead of spending money we don’t have on things we don’t need, why don’t we put the money back into American people’s pockets? Tell them the damn truth,” he added. “We stole your money, but we’re gonna try to get your money back. Not only is it in America’s best interest to do this, it is the right thing to do.”

Yaffee is a contributing writer to Yellowhammer News and hosts “The Yaffee Program” weekdays 9-11 a.m. on WVNN. You can follow him on X @Yaffee