- Elon Musk warned about America’s path to bankruptcy again
- This is in response to a statistic on E.J. Antoni, which Billy Markus cited
- Billy Markus questions the competence of government financial management
- Elon Musk again points out the risk of overspending and its consequences
Elon Musk recently sounded the alarm about America’s financial health, predicting that the nation is on its way to bankruptcy.
This warning came after Dogecoin co-founder Billy Marcus criticized the U.S. government over their financial management.
What Is The Point?
He emphasized such statistics from E.J. Antoni: “Interest on the federal debt was equal to 76% of all personal income taxes collected in June,” which he later commented, “I am glad 76% of the income tax I pay goes directly to important things like interest on past government incompetence.”
Elon Musk responded, “America is going bankrupt btw.”
Because he is quite an influential figure, this has created speculation in the market, but it still coincides with many economic observers regarding the possible consequences of excessive spending.
Earlier this year, he had already stated that “Overspending must stop or America will go bankrupt,” which also caused the markets to react. That time, it was in response to another X user’s post in which he said that 100% of U.S. taxpayers’ money would be used to pay interest on the national debt.
What Does All This Make Clear?
Actually, it is not much. Debates about America’s financial health are regularly raised, especially in times of economic or political crisis, but it is still the most powerful economy in the world.
Of course, we also may be on the point of changing power centers that occurs periodically. That is why we still have to closely monitor such signs from the top leaders in the global and crypto economies.
