Elon Musk warned that the U.S. is on a fast track to a debt crisis, as the national debt has surpassed $35 trillion and interest payments now exceed $1 trillion annually. Speaking at the All-In Summit 2024, Musk likened the situation to excessive credit card debt and emphasized the need to reduce government spending.
Musk also mentioned that he would lead a government efficiency commission, should former President Trump win a second term, to focus on deregulation and shrinking the size of government. Musk highlighted that rising interest payments are becoming a significant burden for future generations.
Elon Musk says America is ‘going bankrupt extremely quickly’
Sep 10, 2024
Article from Fox Business by Breck Dumas
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