US entrepreneur Elon Musk has said the US is “rapidly going bankrupt”, with interest payments on the national debt exceeding the country’s defence budget.
Last week, US Republican presidential candidate Donald Trump promised to set up a commission to reform the government to make it more efficient if he wins the presidential election. It will be headed by Elon Musk, he added.
“If Trump wins (the presidential election – ed.), we will have an opportunity to do a kind of exceptionally rare deregulation and reduction in the size of government. Because in terms of things beyond regulation, America is rapidly bankrupt. The budget for the Department of Defence is a very large budget. It’s one trillion dollars a year. And interest payments on the national debt just exceeded the defence budget,” said Elon Musk in an interview with the All-In podcast.
Recall, earlier Elon Musk said that the European Union will inevitably face a demographic crisis due to low birth rates.
