Musk raises the alarm: Trump's draft law threatens to go beyond public debt!

Musk raises the alarm: Trump's draft law threatens to go beyond public debt!

Elon Musk critically commented on a legislative package supported by US President Donald Trump in a recent live debate, which is known as the "Big Beautiful Bill". In his argumentation, Musk described the law as "disappointing", since it not only increases the budget deficit, but also the efforts of the Department of Government Efficiency (Doge), whose leadership would be undermined. He ironically questioned the possibility that a law could be big and beautiful at the same time and warned of the financial consequences.

The law, which recently received a narrow majority in the House of Representatives, provides for comprehensive tax reliefs, additional funds for border protection and savings in the health sector. Musk expresses concerns that the congressional budget office estimates that the law will cause additional costs of $ 3.8 trillion by 2034. This could increase US state debt to $ 32 trillion, which is worrying, since the current state debt is already 120 percent of gross domestic product, while Germany has only a rate of around 62 percent.

challenges for the budget

Trump’s package also includes trillions of dollars of tax cuts as well as an increase in expenses for the military and national security. Most of these measures are financed by reforms in the health and nutritional area as well as cuts in energy programs. However, the upcoming vote in the Senate could lead to significant changes.

Musk, who recently announced to reduce his political work in order to concentrate more on his company SpaceX and Tesla, plans to spend less money on political activities. In the past, however, he spent over $ 290 million to support Trump and the GOP candidates. It remains to be seen whether this will influence his $ 100 million in political groups controlled by Trump.

the withdrawal of Musk

Although Musk plans to be less involved in politics, he nevertheless emphasizes the importance of the work of the Doge. He described the team as a "scapegoat" for various problems and advocated defending his achievements in Washington. Doge is expected to remain active, with employees who are integrated into different federal authorities, even if Musk withdraws.

The focus is on political and financial developments in the USA, especially in terms of public debt, which according to Statista is a significant challenge. Forecasts indicate that the states will continue to struggle with financial bottlenecks, while the debt burden increases steadily. This situation could have a significant impact on future budgetary policy.

For more information on this topic, see Kosmo, Cnn and Statista.