Elon Musk Warns US Will Go ‘Bankrupt’ Without Major Budget Cuts

 Tech billionaire Elon Musk has warned that the United States will face financial ruin unless drastic federal budget cuts are implemented. Musk, who has been appointed by President Donald Trump to lead the newly established Department of Government Efficiency (DOGE), made the assertion during a White House press briefing on Tuesday.

Musk pointed to the nation’s growing fiscal crisis, emphasizing that the federal budget deficit, which surpassed $1.8 trillion in the last fiscal year, was unsustainable. He specifically raised concerns over rising interest payments on the national debt, which have reached record levels.

“It’s not a choice—it’s a necessity,” Musk stated. “If we don’t significantly reduce federal expenses, the U.S. will go bankrupt.”

Trump’s administration has pushed an aggressive cost-cutting agenda in recent weeks, issuing executive orders that have led to the downsizing or outright closure of several federal agencies. However, these measures have triggered a wave of legal challenges, with opponents arguing that the president is exceeding his constitutional authority. Several lawsuits have been filed, with federal judges questioning the legality of the administration’s drastic spending cuts.

Despite the mounting opposition, Musk’s team has pressed forward with an aggressive cost-reduction strategy. Government agencies have been forced to freeze aid programs, downsize their workforces, and limit hiring. One of the most controversial mandates outlined in Trump’s executive order is a strict hiring cap, allowing agencies to hire only one new employee for every four who leave.

Musk defended the administration’s approach, arguing that voters had clearly supported a major government overhaul. “Americans demanded serious reforms,” he asserted. “We are simply fulfilling that mandate.”

However, Musk’s involvement in government financial policy has raised concerns about potential conflicts of interest. His companies, including Tesla and SpaceX, have received substantial government contracts, leading critics to question whether his recommendations might be influenced by personal business interests.