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Musk predicted US bankruptcy
American entrepreneur Elon Musk said that the US administration must cut spending or the country will go bankrupt. He made this statement at a meeting with voters in Pennsylvania in support of US presidential candidate Donald Trump, TASS reports.
“When the government spends more than it takes in, it causes inflation,” the billionaire said. He stressed that the United States must drastically cut government spending to avoid such a large national debt. Musk warned that this debt cannot be repaid and will lead the country to bankruptcy.
Earlier, under President Joe Biden, the US share of the global economy in purchasing power parity terms fell below 15% for the first time, and it was reported that by the end of his term it would fall to 14.76%, Reuters reports, the lowest in modern history.