{"id":5350,"date":"2026-07-31T16:40:40","date_gmt":"2026-07-31T16:40:40","guid":{"rendered":"https:\/\/propertyrelocationusa.com\/?p=5350"},"modified":"2026-07-31T16:40:40","modified_gmt":"2026-07-31T16:40:40","slug":"delusional-elon-musks-latest-vow-bashed-as-pie-in-the-sky-by-senators-of-both-parties","status":"publish","type":"post","link":"https:\/\/propertyrelocationusa.com\/?p=5350","title":{"rendered":"‘Delusional’: Elon Musk’s latest vow bashed as pie in the sky by senators of both parties"},"content":{"rendered":"
\n

WASHINGTON \u2014 U.S. senators from both parties are dismissing Elon Musk\u2019s prediction that artificial intelligence will soon do away with the need for retirement accounts \u2014 a controversial view echoed by<\/u> Treasury Secretary Scott Bessent this week.<\/p>\n

Read more \u2018One big blur\u2019: Haberman highlights odd Trump comment on assassination attempts<\/a><\/p>\n

\u201cI don’t think that’s right,\u201d OpenAI founder Sam Altman told Raw Story in between meetings with senators at the Capitol this week. <\/p>\n

While Musk no longer holds any position in the federal government, the world\u2019s richest man still enjoys outsized influence in the Trump administration \u2014 which is why heads turned when Bessent endorsed Musk\u2019s latest prophecy. <\/p>\n

\u201cI don’t have a clue what they were talking about,\u201d Sen. John Boozman (R-AR), who chairs the Senate Agriculture Committee, told Raw Story. <\/p>\n

The U.S. Capitol is no stranger to money. In the 119th Congress, 73 of the nation\u2019s 100 senators are worth upwards<\/u> of a million dollars. <\/p>\n

While they have plenty of financial advice, Raw Story couldn\u2019t find a single senator echoing what experts dismiss as Musk\u2019s overly optimistic prediction.<\/p>\n

Bessent’s endorsement of Musk\u2019s prediction that AI will so upend the economy that the technology will make 401ks obsolete in the coming years wasn’t shared by one of the wealthiest politicians in Washington, Sen. Pete Ricketts (R-NE).<\/p>\n

\u201cI would recommend that Americans still plan for retirement,\u201d Ricketts told Raw Story. \u201cAnd use their retirement accounts to do it.\u201d<\/p>\n

While Ricketts\u2019 official financial disclosure states he\u2019s personally worth as much as $293 million, the co-owner of the Chicago Cubs baseball team and his siblings inherited a trust worth as high as $9 billion, according to Bloomberg<\/u>. <\/p>\n

Ricketts hasn\u2019t seen the details of Musk or Bessent\u2019s AI claim, but he\u2019s cautioning American workers against banking on technology to take care of their retirement plans.<\/p>\n

Silicon Valley skeptic, Sen. Josh Hawley (R-MO), laughed off the notion that AI is going to remake retirement for blue-collar workers. <\/p>\n

\u201cDo you think AI is giving us that promising a future for workers?\u201d Raw Story asked while riding an elevator with the senator in the Capitol. \u201cThat it\u2019s going to do away with the need for retirement accounts in our lifetime?\u201d <\/p>\n

\u201cI’d just be satisfied if it didn’t take all the jobs. I mean, one thing at a time,\u201d Hawley told Raw Story through a skeptical laugh. \u201cI mean, it’d be great if it creates new jobs, higher wages and all.\u201d <\/p>\n

\u201cHave you seen evidence of that?\u201d Raw Story pressed. <\/p>\n

\u201cNo,\u201d Hawley said. <\/p>\n

Hawley has teamed up with Democratic Senator Mark Warner (D-VA) on the AI-Related Job Impacts Clarity Act<\/u>, which is intended to give Congress and workers alike more information about artificial intelligence\u2019s actual impact on American workers. <\/p>\n

\u201cLet’s get all the data. I mean, let’s get all of the information about what jobs AI is creating, what jobs AI is destroying. What\u2019s it doing to wages? Let’s find out,\u201d Hawley said. \u201cLet’s find out.\u201d<\/p>\n

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As of now, because Congress has dithered when it comes to passing AI measures, Hawley said there\u2019s no data to back up or negate Musk\u2019s claim. <\/p>\n

\u201cWe’re totally blind,\u201d Hawley said. \u201cOn the one hand, you’ve got all of the cheerleaders, and they’re saying this is going to be the best thing ever and everybody’s going to get rich. And, you know, then you’ve got folks who are more skeptical \u2014 and put me in that camp.\u201d<\/p>\n

\u201cBut let’s find out,\u201d Hawley told Raw Story. \u201cLet’s get the data.\u201d<\/p>\n

When asked about Musk\u2019s rosy prediction, Democrats are less forgiving. <\/p>\n

\u201cThat’s delusional on where America is right now,\u201d Sen. Maria Cantwell (D-WA) told Raw Story. \u201cWe already have a shortage of enough money for people retiring, and that’s probably going to last for the next, you know, 20-plus years, 30 years, even if you have a major shift.\u201d<\/p>\n

As the ranking member \u2014 or top Democrat \u2014 on the Senate Commerce Committee, Cantwell\u2019s been negotiating artificial intelligence proposals throughout this 119th Congress. She\u2019s not buying what Musk is selling. <\/p>\n

\u201cThat’s kind of playing with fire,\u201d Cantwell said. \u201cIf AI is so smart, why doesn’t it help us with the retirement gap that we face today?\u201d <\/p>\n

When Raw Story caught up with Cantwell\u2019s counterpart, Senate Commerce Committee Chair Ted Cruz (R-TX), he wasn\u2019t rushing to jump on Musk\u2019s latest AI bandwagon either. <\/p>\n

\u201cWhat do you make of this prediction that Elon Musk is making that we won’t need retirement accounts because of AI in the near future?\u201d Raw Story asked. \u201cAre you buying that?\u201d<\/p>\n

As he boarded an elevator in the Capitol basement, Cruz nervously smiled as the doors slowly closed on Raw Story.<\/p>\n

One of the biggest proponents of digital currencies in Congress, Sen. Cynthia Lummis (R-WY), is offering different advice than Musk and Bessent. <\/p>\n

“I would say save Bitcoin and spend U.S. dollars,” Lummis told Raw Story. \u201cBecause U.S. dollars are always declining in value by design.\u201d<\/p>\n

Lummis offers her own retirement accounts as an example. <\/p>\n

\u201cI started putting money in an IRA when I was in my 20s. And when my husband was alive, he also was. And now I have a nest egg that’s lost so much value over time because of the decline in the value of the dollar,\u201d Lummis said. \u201cIt would have made more sense to wait and not save all those years, because every year that every dollar I saved when I was in my 20s is now worth pennies.\u201d<\/p>\n

\u201cSo I would say going forward, now that we have Bitcoin, we have an alternative to the dollar. I would say, save Bitcoin and spend dollars, because they’re not going to be as worth as much next year as they are this year.\u201d <\/p>\n

\u201cIs that what you do personally?\u201d Raw Story inquired. <\/p>\n

\u201cYeah. It’s what I do personally,\u201d Lummis, who\u2019s not seeking reelection, said. \u201cAlthough I can’t do any more than I have, because I put what I had in a blind trust. But I’ll be gone from here in January, and I’m going to start buying Bitcoin again.\u201d<\/p>\n

Read more Trump\u2019s bizarre question to foreign leader revealed: \u2018Do people jump off it?\u2019<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

WASHINGTON \u2014 U.S. senators from both parties are dismissing Elon Musk\u2019s prediction that artificial intelligence will soon do away with the need for retirement accounts \u2014 a controversial view echoed by Treasury Secretary Scott Bessent this week.\u201cI don’t think that’s right,\u201d OpenAI founder Sam Altman …<\/p>\n","protected":false},"author":1,"featured_media":5349,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investigation"],"yoast_head":"\n'Delusional': Elon Musk's latest vow bashed as pie in the sky by senators of both parties - Property Relocation USA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertyrelocationusa.com\/?p=5350\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"'Delusional': Elon Musk's latest vow bashed as pie in the sky by senators of both parties - 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