Elon Musk on America: Tesla and SpaceX owner Elon Musk has recently expressed concern about the US economy. Elon Musk has warned about the US economy on X that America is going to go bankrupt very fast.

After winning the US presidential election, Donald Trump entrusted the world's richest man and Tesla and SpaceX owner Elon Musk with the responsibility of controlling the excessive expenditure of the US government. Donald Trump has appointed Elon Musk as the head of the newly created "Department of Government Efficiency" in his upcoming administration. The purpose of which is to find ways to save taxpayers' money.

What did Elon Musk say on X ?

Sharing the information of the Department of Government Efficiency on X, Elon Musk wrote, "America is moving towards bankruptcy very fast." The Department of Government Efficiency had shared information about the financial condition of America on its X account. In which information was shared about the US government spending $ 6.16 trillion in 2023 and raising only $ 4.47 trillion. DOGE further wrote in its tweet, "This trend has to be reversed and we have to balance the budget."

Trump had promised during the election campaign

During the US presidential election campaign, Republican candidate Donald Trump promised to form DOGE. Trump said that its purpose would be to eliminate bureaucracy and reduce the wasteful expenditure of the US government. In early 2024, Trump discussed the issue of America's increasing debt. In this he gave the idea of ​​using Bitcoin to pay "35 trillion dollars".

Donald Trump suggested the solution

According to a Forbes report, the US national debt is set to cross the $34 trillion mark in early 2024. However, Covid and lockdown were cited as the main reasons for this. Due to which inflation increased and forced the Federal Reserve to increase interest rates historically. According to a Forbes report, Trump said, "Give them a little crypto check, we'll give them a little bitcoin and eliminate our $35 trillion debt."