Elon Musk Warns of Fiscal Recklessness with U.S. Debt Nearing $37 Trillion

Elon Musk Denounces Trump’s Spending Plan as U.S. Debt Approaches $37 Trillion

As America’s national debt inches closer to $37 trillion, tech billionaire Elon Musk is sounding the alarm on the country’s fiscal direction. In a sharp rebuke of the Trump administration’s latest legislative effort, Musk called the proposed “One Big Beautiful Bill” a catastrophic misstep.

“This is the largest increase in the debt ceiling in history,” Musk wrote on X, branding the proposal “the Debt Slavery Bill.”
“A bill can be big or beautiful. It can’t be both.”

The legislation, over 1,100 pages long, passed the House of Representatives on May 22 and is now under Senate review. It includes $1.2 trillion in cuts to federal welfare programs, permanent tax reductions, and an estimated $150 billion in new military and border spending.

Economists and watchdog groups warn the package could add over $2.4 trillion to the federal deficit within a decade. Some independent forecasts suggest that figure could grow even larger amid rising interest costs and slowing tax revenues.

Musk’s criticism carries added weight following his brief stint as head of Trump’s Department of Government Efficiency, a role from which he resigned in protest over the bill.

His comments come at a time of heightened concern over America’s fiscal trajectory, with investors, policymakers, and tech leaders increasingly vocal about the risks of unchecked borrowing.

While the White House has framed the bill as a pro-growth overhaul of outdated federal systems, critics like Musk argue that it sacrifices long-term sustainability for political expediency.