The US national debt is more than $36 trillion
Business magnate Elon Musk, who has been sounding the alarm about America's gargantuan, ever-expanding national debt, claimed that many people are unaware of the problem.
"A significant % of people don’t even know that there is such a thing as a national debt!" Musk declared in a post on X.
"Those that do often don’t know how big it is or that our interest payments now exceed what we spend on our military. Only a small % understand that government overspending causes inflation," he added.
President-elect Trump and Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket on Nov. 19 in Brownsville, Texas.
The national debt has soared past $36 trillion.
"America is going bankrupt fast," Musk warned in another post.
"The excess government spending is what causes inflation! ALL government spending is taxation. This is a very important concept to appreciate. It is either direct taxation, like income tax, or indirect via inflation due to increasing the money supply," he asserted in a tweet earlier this month.
Elon Musk speaks at a rally for former President Trump at Madison Square Garden in New York on Oct. 27.
In another post, Musk said, "If we don't tackle the national debt, all tax revenue will go to paying interest and there will be nothing left for anything else."
If the issue isn't addressed "the dollar will be worth nothing," Musk warned in a tweet earlier this year.
President-elect Trump tapped Musk and former GOP presidential primary candidate Vivek Ramaswamy to helm the Department of Government Efficiency (DOGE), an effort meant to root out government waste.
Elon Musk listens as President-elect Trump addresses a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill in Washington, D.C., on Nov. 13.
https://www.foxnews.com/politics/elon-musk-says-theres-substantial-ignorance-about-americas-national-debt
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