Elon Musk is fed up. On Monday, the billionaire entrepreneur unleashed a fiery critique of President Trump’s latest spending proposal, calling it a “disgusting abomination” and placing the blame squarely on Congress for what he sees as the reckless destruction of America’s financial stability.
“Shame on those who voted for it,” Musk posted on X. “You know you did wrong. You know it.” He didn’t hold back, accusing lawmakers of stuffing the legislation with unnecessary spending and warning that it would balloon the federal deficit to $2.5 trillion. “Congress is making America bankrupt,” he added.
The criticism comes as Trump’s “one big beautiful bill” advances in the Senate, with Republican leadership racing to pass it before the July 4 recess. The bill—already narrowly approved by the House—combines tax reforms, expanded defense spending, and key energy initiatives central to Trump’s second-term agenda.
Senate Faces Tight Deadline Amid Republican Tensions
Senate Majority Leader John Thune signaled urgency on Monday, calling June a make-or-break month. “It’s going to be a busy month — we have a lot to get done,” Thune said on the Senate floor. He emphasized that getting the bill to Trump before Independence Day is a top priority.
But passage is far from certain. With a narrow path in the Senate—where Republicans can only afford to lose three votes if Democrats stay united—the GOP is confronting internal fractures.
The House version only passed after heated debate within the party, especially over Medicaid cuts. Those same disagreements are surfacing in the Senate, where Thune admitted the bill needs to closely resemble the House version to maintain support. “The House struck a very delicate balance,” he told reporters. “But senators have their own priorities.”
Trump has been working behind the scenes to unite the party. He’s met with Thune and spoken directly with key GOP senators like Ron Johnson (WI) and Josh Hawley (MO).
Johnson, for his part, has called for deeper cuts and wants the debt ceiling split from the rest of the package. Following his conversation with Trump, he described their meeting as “respectful” but acknowledged differences remain.
GOP Resistance Grows as Crypto Advocates Speak Out
Senator Rand Paul (KY) has taken a firm stand against the bill, citing its debt ceiling provisions. “I won’t support it under any circumstances,” Paul said. Trump fired back on Truth Social, criticizing Paul as someone who “votes NO on everything, but never has any practical or constructive ideas.”
Paul’s opposition adds pressure on GOP leaders to prevent further defections. The bill is being promoted as a $1.5 trillion spending cut, but critics are challenging that narrative.
Johnson and Paul argue the cuts are shallow and accuse Republicans of irresponsibly tying the debt ceiling to massive spending. Musk echoed these sentiments, warning that government waste and debt are spiraling out of control.
The crypto community quickly joined the chorus. Pro-XRP attorney John E. Deaton replied to Musk on X, writing: “The Big Beautiful Bill proves that Washington, no matter which party is in control, is addicted to the 💴 🖨️ and spending MORE 💰 than we take in. Period.” His comments struck a nerve across crypto Twitter, with users expressing fears about inflation and declining confidence in the U.S. dollar.
Uncertain Future for Trump’s Economic Agenda
As the Senate debates the bill, time is running out. Even if it passes, any Senate changes would require another House vote—risking further complications. While Trump continues to rally his party, the opposition is growing louder, both from within and outside the GOP.
Musk’s post marks a shift from observer to outspoken critic, aligning with a broader movement in tech and crypto circles demanding fiscal accountability. His warning was clear: America can’t afford another massive, unfunded package—and the consequences could be lasting.
