Incoming Trump administration official Elon Musk is raising the alarm about America’s staggering national debt.
Musk said he’s concerned that many people are unaware of America’s gargantuan, ever-expanding national debt.
“A significant % of people don’t even know that there is such a thing as a national debt!” Musk declared in a post on X.
“Those that do often don’t know how big it is or that our interest payments now exceed what we spend on our military,” he added.
“Only a small % understand that government overspending causes inflation.”
A significant % of people don’t even know that there is such a thing as a national debt!
Those that do often don’t know how big it is or that our interest payments now exceed what we spend on our military.
Only a small % understand that government overspending causes inflation.
— Elon Musk (@elonmusk) November 27, 2024
The national debt has soared past $36 trillion.
“America is going bankrupt fast,” Musk warned in another post.
“The excess government spending is what causes inflation!” he asserted in a post from earlier this month.
“ALL government spending is taxation.
“This is a very important concept to appreciate.
“It is either direct taxation, like income tax, or indirect via inflation due to increasing the money supply.”
In another post, Musk warned:
“If we don’t tackle the national debt, all tax revenue will go to paying interest and there will be nothing left for anything else.”
If we don’t tackle the national debt, all tax revenue will go to paying interest and there will be nothing left for anything else https://t.co/BakfL5lbdE
— Elon Musk (@elonmusk) November 18, 2024
In a post from earlier this year, Musk warned that “the dollar will be worth nothing” if the issue isn’t addressed.
President Donald Trump tapped Musk and former GOP presidential primary candidate Vivek Ramaswamy to helm the Department of Government Efficiency (DOGE).
DOGA will be tasked with gutting federal bureaucracy and rooting out government waste.
In a statement, Trump said:
DOGE “will provide advice and guidance from outside of Government, and will partner with the White House and Office of Management & Budget to drive large scale structural reform, and create an entrepreneurial approach to Government never seen before.”
Musk and Ramaswamy spoke about their plans for DOGE in a Wall Street Journal opinion piece.
They noted that they will work “as outside volunteers, not federal officials or employees.”
Musk also weighed in on government waste in a recent interview with Tucker Carlson.
He argued that Big Government has gone unchecked for so long it’s just been accepted.
WATCH:
