The discussion kicks off with the intriguing impact of DOGE on the Social Security Administration and a physical takeover of the US Institute of Peace. The conversation pivots to the complexities of identity verification for social security benefits amid bureaucratic changes. There's an eye-opening examination of authority disruptions, illustrated through Elon Musk's actions and their implications for governance. Finally, a spectacular sale makes the Boston Celtics the highest valued sports team, spotlighting the evolving landscape of sports ownership.
56:39
AI Summary
AI Chapters
Episode notes
auto_awesome
Podcast summary created with Snipd AI
Quick takeaways
Recent changes by the Social Security Administration to online identity verification raise accessibility concerns for vulnerable populations, potentially undermining trust in the system.
The physical takeover of the US Institute of Peace by DOGE illustrates how elite figures are challenging traditional authority and governance structures in unusual ways.
The sale of the Boston Celtics for $6.1 billion highlights the increasing value of sports franchises, driven by a combination of scarcity and historical significance despite operational challenges.
Deep dives
Social Security Changes and Their Impact
Recent modifications to Social Security processes have raised significant concerns regarding accessibility. The agency announced stricter requirements for verifying identity, moving away from traditional methods in favor of online systems, which disproportionately affect vulnerable populations, including older Americans and disabled individuals. While the justification for these changes is ostensibly fraud prevention, the statistics indicate that the amount lost to various types of fraud is minimal compared to the total distribution of benefits, suggesting that the reforms may be more about administrative efficiency than genuine fraud reduction. This shift is viewed by some as a strategic effort to undermine trust in Social Security, potentially paving the way for radical changes to the system.
The Role of Identity Verification Technology
The implementation of new identity verification technology, specifically ID.me, has been problematic and often ineffective for many users. Numerous stakeholders, including individuals from marginalized communities, have reported difficulties with the online verification process, highlighting a significant gap in the accessibility of these services. The Social Security Administration's move to eliminate phone options in favor of online solutions risks exacerbating existing inequalities, creating barriers that could prevent individuals from successfully applying for benefits. The situation raises questions about the balance between technological efficiency and equitable access for all beneficiaries.
Political Motivations Behind Social Security Reforms
The ongoing changes to Social Security have prompted speculation about the underlying political motivations driving these policies. Historically, there have been efforts to privatize or dismantle Social Security, and some analysts view the current changes as a continuation of this agenda. Reports suggest that making it harder to claim benefits could lead to lower enrollment, ultimately allowing policymakers to argue that reform is necessary due to dwindling participation. This perspective raises alarms about the long-term stability of Social Security as an essential safety net for millions of Americans.
Elon Musk's Influence on Agencies and Institutions
The discussion on recent events highlights the evolving power dynamics in public institutions, particularly in the context of Elon Musk's interactions with governmental agencies. The example of the Institute of Peace being physically overtaken illustrates how unconventional methods of influence can disrupt traditional governance structures. This unexpected scenario raises broader questions about accountability and control in both public and private sectors, particularly as elite figures exert unprecedented influence over traditionally autonomous institutions. The situation underlines a shift in how authority and power are being interpreted and enacted in the current political landscape.
Record Valuation of the Boston Celtics
The Boston Celtics are poised to be sold for a record $6.1 billion, attracting considerable attention due to the implications for sports team valuations. This sale marks a significant shift, as it represents the highest price ever paid for a sports team, surpassing previous records held by other franchises. Analysts note that while the Celtics may not generate substantial yearly profits, the continuous appreciation in the value of sports franchises makes this investment appealing to buyers, including private equity investors. This trend reflects a broader economic dynamic in sports, where scarcity and historical significance contribute to inflated valuations despite operational challenges.
This week: DOGE is taking its chainsaw to the Social Security Administration. Felix Salmon, Emily Peck, and Elizabeth Spiers examine the real reasons behind the Elon Musk led crusade against the SSA. And then, DOGE used extreme tactics against the US Institute of Peace including a physical takeover of the building by force. Meanwhile, the founder of Pirate’s Booty tried a similar tactic to try to gain power over his small Long Island town. The hosts discuss how these stories and recent actions by Trump call into question what authority really means when it comes to our government. And finally, Dan Primak of Axios joins to explain how a private equity firm just made the Boston Celtics the highest valued team (in dollars) in US sports history.
In the Slate Plus episode: Why are US winemakers upset about a potential wine tariff?
Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you’ll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen.
Podcast production by Jessamine Molli and Cheyna Roth.