Elon Musk is once again stirring the pot in Washington, issuing a bold and blistering warning: The U.S. is on a fast track to financial disaster.
Taking to X, the Tesla and SpaceX CEO went off on the latest Congressional spending package, calling it a “disgusting abomination” and declaring that he “just can’t stand it anymore.” His frustration centered on what he described as reckless, pork-laden government spending that’s spiraling out of control.
> “Shame on those who voted for it. You know you did wrong. You know it,” Musk wrote.
The bill in question, dubbed the “One Big Beautiful Bill Act,” is a sweeping tax-and-spend measure backed by former President Donald Trump. It recently passed the House and is now headed to the Senate. But according to watchdogs like the Committee for a Responsible Federal Budget, the consequences could be brutal: the bill could add $2.5 trillion to the deficit over the next 10 years—or $5.1 trillion if temporary credits become permanent.
Musk didn’t mince words:
> “Congress is making America bankrupt… This will massively increase the already gigantic budget deficit and bury Americans in unsustainable debt.”
Musk, who previously headed the satirical-sounding yet real “Department of Government Efficiency (DOGE),” has consistently voiced concerns over unchecked federal spending. Though he recently stepped down from the role, he said the DOGE mission would live on inside the federal apparatus.
Others are echoing his concerns. Senator Rand Paul chimed in with support:
> “I agree with Elon. Another $5 trillion in debt is a huge mistake. We must do better.”
The White House, however, defended the bill, with Press Secretary Karoline Leavitt insisting it’s necessary to preserve tax cuts and fund key national priorities.
💥 The debate has crypto communities buzzing. With mounting debt and monetary policy in chaos, many investors are once again turning to Bitcoin and decentralized finance as potential hedges against what some are calling a looming U.S. fiscal crisis.
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