(PresidentialHill.com)- Elon Musk, the billionaire philanthropist and founder of Space X and Tesla, has suggested that “something has got to give” with regards to the national debt problem.
Responding to a headline shared by the Babylon Bee, a satirical news site, Musk noted that there’s nothing funny about the United States’ massive national debt crisis. The article he shared from the Bee was titled, “Biden Goes Double Or Nothing On National Debt By Placing $30 Trillion On The Bengals.”
Musk is known to interact with satirical accounts on Twitter and share funny posts of his own, but this time he was being entirely serious.
“True national debt, including unfunded entitlements, is at least $60 trillion – roughly three times the size of the entire US economy,” he said.
True national debt, including unfunded entitlements, is at least $60 trillion – roughly three times the size of the entire US economy. Something has got to give.
— Elon Musk (@elonmusk) February 11, 2022
“Something has got to give,” he added.
He’s right, too. At this pace, the United States will never pay this debt back, and it will only continue to grow.
If President Joe Biden had been able to pass his Build Back Better Act with an extension of provision, it would have cost $1.75 trillion and grown the size of the national debt by 24% over the next three decades, according to the Penn Wharton Budget Model.
Just think about that. As if $30 trillion isn’t enough and already totally unsustainable, Biden wanted to make it worse…and he still could for as long as the Democrats have a technical majority in the Senate.
Do you agree with Elon Musk?