Billionaire entrepreneur Elon Musk is once again raising concerns regarding the U.S. fiscal outlook, warning of dire consequences as interest on Federal debt balloons to unsustainable levels. On Tuesday, in a post on X, Musk warned that the United States was teetering on the edge of “de facto bankruptcy” as federal debt surpasses $37 trillion, and interest payments on this debt now accounting for 25% of all tax revenue.
