Elon Musk repeats his US may go bankrupt warning with ‘debt chart’; says “We either fix this or …” – Times of India

Elon Musk has once again issued a warning about the US economy. Replying to a post on social media platform X (earlier Twitter), the world’s richest man stated that the country could face bankruptcy “super fast” if the rising national debt is not addressed. The tech billionaire highlighted the alarming $36 trillion national debt and the fact that annual interest payments, now exceeding $1 trillion, have surpassed defence spending.

Take a look at the post here

In the post, the user shares a graph to show the US’ outstanding debt and said: “The United States has a severe spending problem. Current national debt is now at $36 trillion and growing. But for the first time in decades, there is a potential solution on the horizon. Odds that @DOGE will cut at least $250B in gov’t spending are up to 36% and 11% to cut $1T.”
Replying to this, Musk wrote: “We either fix this or go de facto bankrupt.”

Last month, Musk highlighted the US’ massive $36 trillion national debt on The Joe Rogan Experience podcast. Take a look at the video here (Cue –2:08:55).

Why Musk is worried about the situation
In the podcast, Musk said: “The government spending is bankrupting the country. You know our interest payments on the national debt now exceed the Defence Department budget which is like a trillion dollars and is growing every month. Basically, America’s on a path to bankruptcy so, we have to cut government spending or we’re just going to go bankrupt just like Postwood that overspends. But it’s even worse than that, we’re spending money on all these government agencies. I asked the AI how many government agencies are there. The government isn’t even sure how many government agencies there are.”
“The interest payments, which are already 23% of all government income are just going to pay interest right now, and that number is continually rising. So if we don’t do something, the entire government budget will be paying interest — there won’t be money for anything. No, there won’t be money for Social Security, there won’t be money for Medicare, nothing. That’s where we’re headed. That’s what bankruptcy means,” the tech billionaire later added (Cue — 2.19.37).