Musk: the entire US federal budget will go to pay interest on debt
The US federal budget in the future will not be enough for anything but to pay interest on debt, said American entrepreneur Elon Musk on his page in the social network X.
This is how he commented on a post by the popular Shibetoshi Nakamoto publick, which ironically claimed that despite the problems with the national debt, the US government still considers Elon Musk to be the main problem.
“Obviously, it’s my fault,” Musk joked. “But damn it, we better do something about it, or the entire federal budget will go to paying off interest payments, and there won’t be any left for anything else!” – he warned.
The publication referenced a CNBC story that the US national debt is growing by one trillion dollars every hundred days.
Earlier, the Budget Office of the U.S. Congress issued a report, which stated that the national debt of the country by the end of 2034 will reach an absolute historical record of 116% of U.S. GDP. As noted, in the absence of changes in American legislation, the level of debt will continue to increase after this date.