Elon Musk Voices Concerns Over U.S. National Debt: ‘Something Has Got to Give’

by Samantha Whidden

Late last week, Tesla and SpaceX’s CEO Elon Musk took to his Twitter account to share his concerns about the U.S. national debt. 

While responding to a tweet by the Babylon that features an article titled “Biden Goes Double Or Noting On National Debt By Placing $30 Trillion On The Bengals,” Elon Musk wrote, “True national debt, including unfunded entitlements, is at least $60 trillion. Roughly three times the size of the entire U.S. economy. Something has got to give.”

According to Fox News, the U.S. national debt is currently just more than $30 trillion. However, Elon Musk is correct. The debt numbers do not include the unfunded entitlements and future obligations. When both are factored in, the national debt is estimated to be in the range of $60 trillion to $123 trillion. 

Elon Musk’s latest comments on the U.S. national debt come a little over two months after he suggested the U.S. should get rid of all government subsidies. According to The Verge, Musk spoke about the subsidies and said, “Just delete them all. We’ve spent so much money… the federal deficit is insane.”

While addressing President Biden’s Build Back Better infrastructure bill, Elon Musk declared, “I would say can the whole bill. Don’t pass it, that’s my recommendation.”  

Elon Musk Recently Spoke About Being the Richest Person in the World 

During his 2021 Person of the Year Interview with Time, Elon Musk spoke about being labeled as the richest person in the entire world. “Well, I think there’s like some, you know, sovereigns. I think [Russia’s] President Putin is significantly richer than me. I can’t invade countries and stuff.”

Elon Musk goes on to discuss income equality in the world. He said that when looking at income and asset distribution, it is very important to normalize that for age. “So as societies age, there are more older people; the older somebody is, the richer they are. But a lot of the push for higher government involvement and expropriation of assets by the government is pushed by a bunch of politicians who are actually saying that resources shouldn’t be in control of private individuals. They should be in control of the government.”

Elon Musk then turned his attention to the current competition in the electric-vehicle market. He declares that if somebody makes better electric cars than Tesla does and then sells more cars than the electric car brand does, he thinks that’s totally fine. “Our intent with Tesla was always that we would serve as an example to the car industry and hope that they also make electric cars so that we can accelerate the transition to sustainable energy.”

In regards to his tweets that draw both positive and negative comments, Elon Musk adds that he’s not really trying to do brand optimization. “So sometimes, I obviously shoot myself in the foot. As is obvious from my tweets, they’re humor that I find funny, but not many other people find funny.”