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Elon Musk warns of imminent US financial collapse due to $36 trillion debt

share-iconMonday, January 06 comment-icon2 weeks ago 11 views
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indiatimesINDIATIMES
Elon Musk warns of imminent US financial collapse due to $36 trillion debt

Credited from: INDIATIMES

  • Elon Musk has voiced serious concerns regarding the US economy, predicting potential financial collapse due to the escalating national debt.
  • In his recent appearance on The Joe Rogan Experience, Musk highlighted the US's staggering $36.14 trillion debt burden.
  • He emphasized that interest payments now account for 23% of federal revenue, warning that this could lead to no funding for essential programs like Social Security and Medicare.
  • Musk proposed a 30% reduction in federal spending, although this suggestion has met with skepticism from experts.
  • Additionally, Treasury Secretary Janet Yellen has cautioned that the US might reach its debt ceiling by January 2025, stressing the need for immediate action.

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