Billionaire Elon Musk has slammed the Trump-backed “One Big Beautiful Bill Act” and warning that the United States is racing toward financial ruin.
“This immense level of overspending will drive America into debt slavery!” Musk posted early Wednesday on X.
The US national debt has now surpassed $36 trillion. Musk is raising alarms about how interest payments alone are consuming 25% of government revenue.
“If the massive deficit spending continues, there will only be money for interest payments and nothing else! No social security, no medical, no defense … nothing,” he warned in another post.
The bill, supported by former President Donald Trump and recently passed in the House, has drawn criticism from fiscal conservatives and Musk alike.
“I’m sorry, but I just can’t stand it anymore,” Musk wrote. “This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it.”
Despite Musk’s criticism, the White House stands by the bill.
When asked about Musk’s comments on Tuesday, press secretary Karoline Leavitt responded, “The president already knows where Elon Musk stood on this bill. It doesn’t change the president’s opinion. This is one big, beautiful bill, and he’s stickin’ to it.”
Musk, however, remains steadfast in his view that reckless spending is bankrupting the country.
“Mammoth spending bills are bankrupting America! ENOUGH,” he declared in another post.
Republican lawmakers are reportedly pushing for spending cancellations amid Musk’s outspoken disapproval and growing pressure from conservative voters.
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