Washington, D.C. (National Times): Tesla CEO Elon Musk has raised concerns over the United States’ rising trade deficit and government spending, warning that if corrective measures are not taken, “America will go bankrupt.”
In a recent Fox News interview, Musk said that the $2 trillion trade deficit inherited by U.S. President Donald Trump has put the country in a dangerous economic situation. He criticized how taxpayer money is being misused, stating that every American should be “mad as hell” over the reckless spending by the government.
Elon Musk on the U.S. Deficit: “It’s Insane”
Musk expressed deep concerns about the nation’s financial situation, emphasizing that a country is no different from an individual—if it continues to overspend, it can go bankrupt just like any person or business.
“The overall goal is to cut a trillion dollars from the deficit. If this deficit is not controlled, America will go bankrupt,” Musk stated. He pointed to waste, fraud, and abuse within the system, which has contributed to the $2 trillion annual deficit.
Trump Backs Musk, Calls Spending a “Scam”
Agreeing with Musk, Donald Trump blamed the Democrats for the current economic troubles. He claimed that inflation was out of control due to reckless spending during the last four years.
“They spent money like nobody has ever spent before. They were given $9 trillion and threw it out the window. I call it the ‘Green New Scam’—one of the biggest scams in U.S. history,” Trump said.
He further supported Musk’s efforts in identifying government fraud, stating that billions—possibly hundreds of billions—of dollars in waste were being uncovered.
Elon Musk on Bureaucracy: “America is Not a Democracy”
Musk also criticized the federal bureaucracy, arguing that unelected officials were blocking the implementation of presidential directives. He claimed that the government was no longer functioning as a democracy but instead was controlled by bureaucrats.
“If the president is the representative of the people, but his will is not implemented, then the will of the people is not being implemented. That means we don’t live in a democracy; we live in a bureaucracy,” Musk remarked.
He pointed out that Washington, D.C. overwhelmingly supported former Vice President Kamala Harris, highlighting the political bias within the federal government.
Trump Praises Musk, Calls Him “An Amazing and Caring Person”
During the interview, Trump praised Musk’s leadership and vision, saying he was impressed by how Musk turned Tesla into a global success despite facing challenges.
“I knew him a little bit through the White House, but I respect what he has done. Starting a car company and making it successful is an incredible achievement. He is a great person, an amazing person, and also a caring person,” Trump said.
Trump also revealed issues within government agencies, stating that some contracts continue for years even after they should have expired, leading to massive financial losses.
Musk Sees an Opportunity to Fix the System
Concluding the discussion, Musk emphasized that winning elections should be an opportunity to fix the system and restore the true power of democracy.
Meanwhile, Trump took the opportunity to criticize major media outlets such as MSNBC, CNN, PBS, AP, and CBS, calling them “horrible” and “corrupt.” He also accused CBS of allegedly editing Kamala Harris’s interview responses.
As the 2024 U.S. elections approach, Musk’s and Trump’s remarks have ignited further debates on government accountability, economic stability, and media bias in America.
