The United States could actually go bankrupt if it doesn't radically change the situation with its growing national debt, billionaire entrepreneur Elon Musk said.
“Either we fix this or we'll de facto go bankrupt“, he commented on a post in X about the level of public debt.
Expectations that the new agency to increase government efficiency and fight bureaucracy, which will be headed by Musk and businessman Vivek Ramaswamy, will reduce government spending by $ 250 billion, have risen to 36%.
On November 15, the US national debt for the first time in history exceeded $ 36 trillion. According to forecasts by the US Congressional Budget Office, this figure will exceed $ 50 trillion in 2034 (122% of GDP). According to management forecasts, the average annual growth of GDP in 2029-2034 will be 1.8%.