Elon Musk has warned that the US government is on the verge of going bankrupt if it doesn't control its skyrocketing debt. The billionaire entrepreneur has taken a bold step by agreeing to co-lead a new team under President-elect Donald Trump that aims to tackle this huge problem and cut government spending.
Musk's warning comes after a prediction from Kalshi, a financial company that lets people bet on future events. Kalshi’s market suggested there’s a 36% chance the government will reduce its annual spending by at least $250 billion. The new team called the Department of Government Efficiency (DOGE), is supposed to find ways to make significant cuts. Musk will work alongside another billionaire, Vivek Ramaswamy, to lead this effort.
The concern comes at a time when the US national debt has reached a terrifying new high—over $36 trillion. Musk has expressed his alarm at this, saying that it’s a major issue that could lead the government to collapse financially.
Recently,...
Full Access
Included:
-
Access to All Articles.
-
One Plan. No Tiers.
-
No Ads.
-
Cancel anytime.
