“America will go bankrupt…”: Elon Musk criticises high trade deficit, expenditure of tax money

Washington: During an interview with Fox News, Tesla CEO Elon Musk expressed strong criticism of U.S. government spending, arguing that average citizens should be outraged over how their tax dollars are being utilized. He pointed out that President Donald Trump inherited a $2 trillion trade deficit and warned that the U.S. could face bankruptcy if.

Washington: During an interview with Fox News, Tesla CEO Elon Musk expressed strong criticism of U.S. government spending, arguing that average citizens should be outraged over how their tax dollars are being utilized. He pointed out that President Donald Trump inherited a $2 trillion trade deficit and warned that the U.S. could face bankruptcy if it does not address this issue. Musk emphasized the importance of controlling the deficit, stating, “A country is no different from an individual; if an individual overspends, they can go bankrupt, and so can a country.”

Musk specifically criticized USAID spending, claiming that there is significant waste, fraud, and abuse leading to the current deficit. Trump echoed Musk’s sentiments, asserting that inflation has returned and blaming it on the Democrats’ spending habits over the past four years. He referred to the $9 trillion allocated for various initiatives, dismissing it as wasted money on what he termed the “Green New Scam.”

Trump highlighted the extensive fraud within the system, praising Musk for his work with DOGE and acknowledging that Musk’s efforts are uncovering substantial issues. He described Musk as attracting intelligent individuals who are committed to the country and noted that they are exposing significant fraud and waste.

Musk responded to Democratic criticism over DOGE cuts by suggesting that their backlash indicates they are doing something impactful. He criticized the entrenched bureaucracy in Washington, D.C., which he believes undermines the president’s authority and the will of the people. Musk pointed out that a vast federal bureaucracy opposes the president and emphasized that if the president’s will is not enacted, it suggests a failure of democracy.

Trump supported Musk’s views, stating his goal is to bring in capable individuals and praised Musk as an “amazing and caring person.” He provided an example of government inefficiency, where contracts are paid for much longer than intended, highlighting systemic issues within government agencies.

Musk concluded that winning elections presents an opportunity to reform the system and restore democratic power. Trump also criticized several media outlets, labeling them as “bad” and “terrible,” and accused CBS of misrepresenting Kamala Harris’s statements.