Elon Musk, the world’s richest man, has sharply criticized President Donald Trump’s proposed spending package, calling it a “fiscal disaster.” Musk, who previously led the Department of Government Efficiency, stepped away as the legislation advanced through Congress, warning that it represents the largest increase in the U.S. debt ceiling in history.
Taking to social media, Musk branded the bill as the “Debt Slavery Bill,” highlighting its staggering size and potential economic impact. “This spending bill contains the largest increase in the debt ceiling in US history! It is the Debt Slavery Bill,” he posted on X. Musk added a touch of humor, saying, “I think a bill can be big or it could be beautiful. I don’t know if it could be both.”
The legislation in question is an 1,100-page bill approved by the House on May 22, now heading to Senate negotiations. It proposes $1.2 trillion in cuts to Medicaid and food assistance programs, alongside permanent tax breaks and $150 billion in funding for defense and border security. The Congressional Budget Office estimates that the bill could add approximately $2.4 trillion to the national deficit over the next decade, with some forecasts indicating even higher figures.
This development comes at a critical time, as the U.S. national debt approaches a historic $37 trillion, fueling concerns among fiscal conservatives and technology leaders alike. The White House is eager to see the bill pass the Senate before the Independence Day holiday, emphasizing the urgency of the situation.
Elon Musk’s outspoken stance underscores the growing debate over the country’s fiscal policy and the long-term implications of such massive borrowing. As policymakers continue to negotiate, all eyes remain on whether this bill will mark a turning point for America’s financial future.
