Elon Musk warns of U.S. nearing bankruptcy due to rising budget deficit and national debt.

Elon Musk, CEO of Tesla and SpaceX, warns that the U.S. is nearing bankruptcy due to excessive government spending. He referenced a fiscal year 2025 budget forecast indicating that the budget deficit could rise from $1.8 trillion to $16.3 trillion by 2035. Musk also attributes inflation to this overspending. The national debt has surpassed $35 trillion and is projected to exceed $50 trillion by 2034, exceeding 122% of the nation's GDP.

September 01, 2024
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