- Elon Musk claims that we need to reduce the cost to avoid bankruptcy, and Musk confirms that the severe budget cuts are necessary to prevent American bankruptcy, and highlight the need for efficiency in federal spending.
- The American national debt exceeded 36 trillion dollars, which raised concerns about financial stability and the possibility of economic shrinkage.
- Musk's participation with the Ministry of Governmental efficiency (DOGE) aims to reduce bureaucracy and simplify government operations.
Elon Musk issued a serious warning about the American economy, claiming that without significant budget discounts, the nation is on the way to bankruptcy.
During his conversation with President Donald Trump at the White House, Musk confirmed that cutting federal spending is not just a choice but a necessity.
The businessman with technology leads the initiatives to reduce costs through the newly established government efficiency (DOGE), which aims to reduce government expenditures and improve operations.
Musk's fears of the growing budget deficit and high interest payments on national debt stems. The US National debt exceeded 36 trillion dollars, with annual interest payments exceeding $ 1 trillion – now competing with the defensive spending of the priority.
Critics raised moral questions about the participation of Musk, given the important government contracts held by his companies.
However, Musk is determined to follow transparency and efficiency in his reform initiatives. Legal conflicts arose due to Trump's wide cuts in the budget, as critics accused him of illegal seizure of power.
Also read: Cardi B criticizes Donald Trump for the Super Bowl experience
The last update on February 12, 2025 of 247 news around the world
