Elon Musk Warns of Bankruptcy: US Government Efficiency Department
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World
February 12, 2025 07:30
united states - Elon Musk raises concerns over US bankruptcy if spending cuts are not made in the government, emphasizing the need for budget deficit reduction and responsible spending.
Elon Musk's Warning on US Bankruptcy
Elon Musk, the head of the US Government Efficiency Department (DOGE), stated that the country will go bankrupt if spending is not cut. Musk highlighted the excessive spending on defense surpassing the budget of the Department of Defense due to interest payments on the national debt.
Musk emphasized the importance of democracy and accountability in bureaucracy, pointing out the need for budget deficit reduction. He warned that failure to address the budget deficit would lead to the country's bankruptcy.
Addressing the need for fundamental controls in the US Treasury, Musk criticized the lack of categorization in payments, leading to insufficient oversight of ministries.
Musk stressed the significance of taxpayers' money being spent wisely on essential matters, advocating for sensible allocation of funds. He also raised concerns over individuals receiving Social Security payments at the age of 150.
Regarding criticisms of the government being covertly taken over, Musk expressed confidence in achieving significant government reforms through public voting.