Elon Musk said that if the United States dramatically reigns in its spending and reduces its debt to the central bank, The Federal Reserve, it will go bankrupt. The billionaire tech mogul said that the U.S. has no choice anymore but to fix its rising debt problem.
Musk is going to co-lead a new department tasked with curbing spending under President-elect Donald Trump. However, no ruler will ever cut the debt because doing that will cause a loss of power and all but complete destruction of the economy. But it’ll be interesting to watch the debt continue to spiral out of control while the ruling class claims they’ll be fixing it.