Another Joe Rogan interview that could be a wake-up call: Elon Musk tells him U.S has to pay $1.1 trillion in interest and could be heading toward bankruptcy
Elon Musk has sounded ominous as the billionaire business claimed that the USA economy would collapse soon. While talking to Joe Rogan during «The Joe Rogan Experience», Musk said that urgent measures must be taken to fix the financial loopholes in the American economy, Benzinga reported.
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Citing the Treasury Department's report, Musk said the USA is 'drowning' in debt. He said that current the interest payments account for 23 per cent of the federal revenue.
Musk said if there is an uptick in the interest payment then expenditure on social security and Medicare will take a hit. The Joe Biden's government had to pay $1 trillion on interest in 2024.
Musk has prescribed a panacea to the issue. Musk has suggested the federal government must cut its expenditure by 30 per cent.
Musk's alarming remarks came barely a fortnight ahead of the President-elect Donald Trump's inauguration scheduled on January 20.
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