Elon Musk Warns of US Bankruptcy Without Budget Cuts

Billionaire Elon Musk stressed that the United States could face bankruptcy without federal spending cuts. Defense Secretary Pete Hegseth announced plans for Musk to review Pentagon expenditures soon, amid ongoing questions about the legality of Trump's mass resignation plan.


Billionaire Elon Musk, appointed by President Donald Trump to lead efforts to reduce federal spending, warned in a statement about the necessity of budget cuts, asserting that the United States "will go to hell" without them. The US Secretary of Defense Mark Esper reported that the Pentagon plans to conduct an urgent review of Musk's spending, meanwhile federal officials still find themselves in a strange predicament: the legality of collective dismissals, conducted under Trump's presidency, raises questions, according to a report from Politico.

Elon Musk, appointed chairman of the newly created Committee on Government Efficiency, made this statement in the presence of Trump, who recently signed several executive orders.