'America would be toast': Elon Musk warns of bankruptcy and rising interest rates due to $36 trillion debt

Jan 5, 2025 - 19:59
'America would be toast': Elon Musk warns of bankruptcy and rising interest rates due to $36 trillion debt
Elon Musk warns that the US is on the brink of financial collapse due to its $36.14 trillion debt, with interest payments consuming 23% of federal revenue. He suggests a 30% cut in federal spending, though experts call this nearly impossible without severe impacts. Treasury Secretary Janet Yellen urges prompt action.