Elon Musk DROPPED THE BOMBSHELL on Joe Biden for $30 Trillion Debt
Welcome everyone, in today's video; we’re going to tell Elon Musk DROPPED THE BOMBSHELL on Joe Biden for $30 Trillion Debt
In an interview this week, CEO Elon Musk criticized Joe Biden, saying the president only reads from a teleprompter and that his administration hasn't accomplished much.
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Elon Musk DROPPED THE BOMBSHELL on Joe Biden for $30 Trillion Debt
Elon Musk, the CEO of Tesla and SpaceX, declared on Thursday that the nation's record-breaking $30 trillion debt is unsustainable.
Musk argued that there is nothing amusing about the national debt increasing under President Joe Biden in response to a headline from the Babylon Bee that stated, "Biden Goes Double Or Nothing On National Debt By Placing $30 Trillion On The Bengals."
“True national debt, including unfunded entitlements, is at least $60 trillion – approximately three times the size of the whole US economy,” he tweeted.
“Something has got to give.”
According to a research, the Biden administration has consistently promoted a left-wing social expenditure agenda, experts claim that it has done so despite the financial costs.
According to the Penn Wharton Budget Model, the national debt of the United States would have increased by 24% over the course of 30 years if the $1.75 trillion Build Back Better Act had been implemented with an extension of its provisions.
Sen. Rand Paul of Kentucky, a Republican, remarked, "People are claiming we're going to give you free college, free cars, free smartphones, free this, free that" as the national debt approached $30 trillion.
"Everything will be free in life. You won’t have to work anymore,” he remarked. "The issue is that there are consequences. Money must come from somewhere because money doesn't grow on trees.
It's Musk's most recent intriguing statement. He’s also had unpleasant words recently about President Joe Biden.
Elon Musk, a tech magnate, criticized President Joe Biden harshly on Twitter. ..
"Biden is treating the American public like fools," Musk retorted.
Eva Fox, a different user, also cast "shame on Biden," and Musk concurred.
Fox tweeted, "Biden is a damp [sock] puppet in human shape," in response to which Musk wrote, "Biden."
According to the Peter G. Peterson Foundation, the $30 trillion debt is equal to $231,000 every US household and $90,000 per person. It would take 19 years to pay off the debt if each US family contributed $1,000 each month.
The startling sum includes the federal government's internal debt, or the money it owes itself, such as through the Social Security trust funds. It also covers debt held by enterprises, pension plans, and insurance firms that are owned by the government.
Foreign creditors owe more than $7.7 trillion, with Japan, China, and the United Kingdom at the top of the list.
The US government passed the $30 trillion mark far more quickly than anticipated. The independent Congressional Budget Office anticipated in 2020 that it would not happen until 2025.
The Peter G. Peterson Foundation, which promotes fiscal restraint, is led by Michael A. Peterson. He called the $30 trillion mark "a gigantic red flag for all of us concerning America's future economic health, generational justice, and leadership in the world."
Peterson continued, "Our high and rising debt makes us less secure against potential adversaries, less resilient to climate change, and less able to construct the strong and inclusive economy that we all desire for the next generation.
On Capitol Hill, there is a heated debate about the national debt. For months, Republicans and some Democrats have contended that President Biden's $2 trillion social and climate spending measure, the Build Back Better Act, will lead the national debt to soar even higher and ultimately cripple the nation.
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