The Damage Report
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Scott Bessent Left SCRAMBLING Over Insane Elon Musk Declaration In Fox News Disaster
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August 2, 2026
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10:23Now Playing
5:37Donald Trump's Treasury Secretary Scott Bessent is left scrambling during an awkward Fox News interview when questioned on Elon Musk's dangerous declaration against saving for retirement. John Iadarola and Sharon Reed break it down on The Damage Report. Leave a comment with your thoughts below!
Read more here:
Treasury Secretary parrots Elon Musk’s claim that Americans won’t need to save for retirement because of AI’s abundance
"Scott Bessent echoed Elon Musk’s claims that Americans won’t need to save for retirement thanks to the “abundance of AI”.
In a recent interview with The Economist, the SpaceX CEO said that he believes that in a few years, artificial intelligence will exceed human intelligence and cash will soon become meaningless.
He had previously said that saving will soon become irrelevant. “Don’t worry about squirrelling money away for retirement in like 10 or 20 years - it won’t matter,” he claimed in a January appearance on the Moonshots with Peter Diamandis podcast.
Speaking to Fox News on Monday (27 July), the Treasury Secretary agreed with Mr Musk, though said he believed Mr Musk is “ahead of the curve” in regard to the timeline."
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