Billionaire tech CEO Elon Musk has in a post on social media platform X (formerly known as Twitter), expressed worry that the United States will go “bankrupt”.
“Overspending must stop or America will go bankrupt,” he wrote early on March 13. Musk was responding to a post by X user @WallStreetSilv who warned that over time 100 percent of US taxpayer monies would be used to pay interest on national debt.
“This is an amazing number to watch in the next few years. Individual income taxes are about 1/2 of the govt revenue. For February, the US govt collected $120 billion from individual income taxes. They had to spend $76 billion in February to pay interest on the national debt. We are not that far off from a day when 100% of individual income…
