Tesla and SpaceX CEO Elon Musk has once again raised alarm over the rapidly growing U.S. national debt, cautioning that the country is heading toward bankruptcy. Musk, known for his outspoken opinions on fiscal matters, expressed his concerns on social media, highlighting a staggering $204 billion increase in the national debt in a single day.
Musk emphasized that interest payments on the federal debt now exceed the entire U.S. defense budget, underscoring the urgency of the situation. He attributed this rising debt burden to unchecked government spending, warning that it is fueling inflation and putting the nation’s economy on an unsustainable path.
In a series of posts on the platform X, formerly Twitter, Musk has repeatedly criticized the federal government’s spending habits. On September 5, he warned that current fiscal policies are pushing the U.S. “to the brink of bankruptcy.” In earlier comments, he stressed that the pace of spending is fast-tracking the country toward economic collapse.
Musk’s critiques have resonated with broader concerns about public debt and fiscal responsibility. In response, he proposed creating a “government efficiency commission” aimed at cutting wasteful spending. Former President Donald Trump has expressed support for the idea, with Musk offering to lead the commission if Trump secures victory in the upcoming election.
As U.S. national debt continues to balloon, Musk’s warnings add to growing debates over fiscal sustainability and the future of the American economy.
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