‘America is going bankrupt very fast’, Elon Musk told the solution

Elon Musk on America: Tesla and SpaceX owner Elon Musk has recently expressed concern about the American economy. Elon Musk has warned on Twitter about the American economy that America is going to go bankrupt very fast.

After winning the US presidential election, Elon Musk, the world’s richest man and owner of Tesla and SpaceX, was given the responsibility of controlling the excessive expenditure of the US government by Donald Trump. Donald Trump has appointed Elon Musk as the head of the newly created “Department of Government Efficiency” in his incoming administration. The purpose of which is to find a way to save taxpayers’ money.

What did Elon Musk say on X,

While sharing information from the Department of Government Efficiency on Facebook, Elon Musk wrote, “America is moving very fast towards bankruptcy.” The Department of Government Efficiency had shared information about the financial condition of America on its X account. In which information was shared about the US government’s expenditure of 6.16 trillion dollars in 2023 and raising only 4.47 trillion dollars. DOGE further wrote in its tweet, “This trend has to be reversed and we have to balance the budget.”

Trump had promised during the election campaign

During the US Presidential election campaign, Republican candidate Donald Trump had promised the creation of DOGE. About which Trump had said that its objective would be to eliminate bureaucracy and reduce the wasteful expenditure of the American government. In the beginning of 2024, Trump had discussed about America’s increasing debt. In this he gave the idea of ​​using Bitcoin to repay “35 trillion dollars”.

Donald Trump suggested solution

According to a Forbes report, America’s national debt has crossed the $34 trillion mark by the beginning of 2024. However, Covid and lockdown were cited as the main reasons. Due to which inflation increased and forced the Federal Reserve to increase interest rates historically. According to a Forbes report, Trump said, “Give them a little crypto check, we’ll give them a little Bitcoin and eliminate our $35 trillion debt.”

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