Elon Musk: US is rapidly moving towards bankruptcy

American businessman Elon Musk has criticized the current financial situation of the United States, warning that its rapidly heading toward bankruptcy.

“America is now moving at breakneck speed toward bankruptcy,” Musk wrote on X.

Musk commented in his post from the Department of Government Efficiency (DOGE) that noted the last time the United States had a budget surplus was in 2001.

The “DOGE” added that the US government spent more than $6 trillion in fiscal year 2023, while collecting only $4.47 trillion.

Earlier, former President Donald Trump announced that Elon Musk and businessman Vivek Ramaswamy would lead the new Department of Government Efficiency (DOGE).

Musk has repeatedly expressed his support for Trump on the X platform, and has become more active in American politics, regularly sharing his views on political issues.

Musk has promised to cut US budget spending by at least $2 trillion if Trump wins the next election.