https://sputnikglobe.com/20241206/us-to-be-left-without-money-if-it-does-not-tackle-national-debt---musk-1121104385.html
US 'Won't Have Money for Anything' If It Doesn't Tackle National Debt, Musk Warns
US 'Won't Have Money for Anything' If It Doesn't Tackle National Debt, Musk Warns
Sputnik International
If the US does not improve the situation with rising national debt, it risks being left without money even for basic services, billionaire and future leader of US spending watchdog Elon Musk said on Friday.
2024-12-06T05:20+0000
2024-12-06T05:20+0000
2024-12-06T06:40+0000
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"If we don't tackle the exponential growth in national debt, there will be no money for anything, including essential services," Musk said on X. The United States' public debt is expected to rise to 121% of GDP in 2024 and reach 131.7% in 2029, the International Monetary Fund (IMF) said in its Fiscal Monitor report in late October. US President-elect Donald Trump previously announced that Musk and businessman Vivek Ramaswamy would head the newly-established Department for Government Efficiency (DOGE). The billionaire innovator previously said that he believed the newly created department aims to enhance the efficiency of US defense spending.
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US 'Won't Have Money for Anything' If It Doesn't Tackle National Debt, Musk Warns
05:20 GMT 06.12.2024 (Updated: 06:40 GMT 06.12.2024) MOSCOW (Sputnik) - If the United States fails to solve the rising national debt problem, it may find itself left without money to fund even basic services, billionaire and prospective leader of the US spending watchdog, Elon Musk said on Friday.
"If we
don't tackle the exponential growth in national debt, there will be no money for anything, including essential services," Musk said on X.
The United States'
public debt is expected to rise to 121% of GDP in 2024 and reach 131.7% in 2029, the International Monetary Fund (IMF) said in its Fiscal Monitor report in late October.
US President-elect Donald Trump previously announced that Musk and businessman Vivek Ramaswamy would head the newly-established Department for Government Efficiency (DOGE). The billionaire innovator previously said that he believed the newly created department aims to enhance the efficiency of US defense spending.
