Tesla CEO Elon Musk raises concern over $35 trillion ‘time bomb’

WhatsAppWhatsAppFacebookFacebookTwitterTwitterPinterestPinterestRedditRedditGmailGmailShareShare

Entrepreneur, investor and one of the richest persons globally, Elon Musk has raised serious concerns over an apparent ‘financial emergency’ in the US. It comes as the federal government’s interest payments surpass $1 trillion annually.

The national debt has reached $35.7 trillion and could touch $36 trillion by year’s end. Speaking at a recent Donald Trump campaign rally, the Tesla CEO highlighted that interest payments currently consume 23% of all federal tax revenue.

The mounting debt crisis has triggered a shift to alternative assets. Bitcoin and gold rates have reached record levels. The cryptocurrency has approached $70,000 as investors increasingly consider it ‘digital gold’ amid rising inflation concerns.

National debt crisis and nearing presidential election

The surge in national debt is primarily from the COVID-era stimulus measures that contributed to inflation, compelling the Federal Reserve to implement historic interest rate hikes. Current projections suggest continued deficit increases.

Keep Reading

The Federal Reserve appears to be caught in a ‘nightmare scenario’ as it needs to balance inflation control and government obligations, all at the same time. Prominent investor Paul Tudor Jones has also raised alarm about a potential ‘debt bomb’.

The serious debt crisis in the US comes against a backdrop of raging debates over a number of national issues as the presidential election nears. Democratic nominee Kamala Harris and Republican nominee Donald Trump are looking to battle it out in November.

writer ss

Recent Posts

The Silent Threat: How the Muslim Brotherhood Challenges France’s Secular Identity and Women’s Rights

A new report commissioned by the French government has revealed a plan by the Muslim Brotherhood to undermine France’s secular…

June 2, 2025

Japan Enforces Landmark Worker Heat Safety Law – Here’s What Employers Should Know About the Fine

Japan has passed a historic law that requires employers to take strong action to protect workers from heat illness or…

June 2, 2025

Quiet Vacation: 37% Millennials dominate this growing workplace trend

The trend of ‘Quiet Quitting’ is bygone, now the employees are eager for ‘Quiet Vacation’, a growing trend among staff…

May 31, 2025

World Leaders call for freedom of detained UN, NGO Staff in Yemen

The series of arbitrary detentions by the Houthi authorities has been under debate among the world leaders and human rights…

May 31, 2025

Ontario Announces Major Labour and Immigration Reforms for August 2025

By August 2025, Ontario is set to implement the major labour and immigration reforms through the proposed ‘Working for Workers…

May 31, 2025

HMRC Uncovers GBP 7.4M in Unpaid Wages – Thousands of UK Workers to Benefit

In a significant act of protecting workers' rights, HM Revenue and Customs (HMRC) have identified over GBP 7.4 million of…

May 30, 2025