Tesla CEO Elon Musk warns that the U.S. is on the fast track to bankruptcy due to rising national debt and unchecked government spending, calling for a government efficiency commission.
Bollywoodfever: Tesla and SpaceX CEO Elon Musk has once again raised alarms about U.S. government spending, warning that the country is on a dangerous path toward bankruptcy. Musk reacted to a staggering $204 billion surge in national debt in just one day, emphasizing that America’s current trajectory is unsustainable.
Musk voiced his concerns on X, formerly Twitter, noting that interest payments on federal debt now surpass the defense budget, exacerbating the nation’s financial instability. He believes excessive government spending is fueling inflation and driving the U.S. economy toward collapse.
The billionaire has repeatedly sounded the alarm over the last several months, urging for immediate reforms. On September 5, Musk stated that government spending is “driving America to bankruptcy,” and on August 30, he emphasized that current fiscal policies are “pushing the country in the fast lane to bankruptcy.
In response to the growing debt crisis, Musk proposed the formation of a “government efficiency commission” aimed at reducing wasteful spending. His idea has received support from former President Donald Trump, with Musk offering to lead the commission should Trump win the 2024 presidential election.
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