Elon Musk, the American entrepreneur and head of the U.S. Department of Government Efficiency (DOGE), has warned of a potential threat of bankruptcy for the United States. He expressed his views on the social media platform X.
Musk commented on a post stating that “America is in a deep financial crisis, and if foreign investors stop lending us money, the country will face bankruptcy. If you want the collapse of DOGE (the department for reducing government spending led by Musk), you want America’s default.”
The billionaire emphasized that the core issue lies in the federal spending deficit.
If the federal spending deficit is not addressed, America will go bankrupt, Musk wrote in his post on X.
It is also worth noting that Musk previously mentioned that one of President Donald Trump’s main goals would be to reduce the U.S. national debt.
Additionally, Trump has imposed new restrictions on the head of DOGE. He held a meeting with the ministers and stated that Musk can only offer recommendations to the departments, but does not have the authority to make unilateral decisions regarding staffing and policy.
