Elon Musk denounced the Trump administration's new tax and spending bill as absurd and shameful, stating it could increase America's budget deficit by $2.5 trillion. He criticized Congress for its passage.
America: Technology billionaire Elon Musk launched a scathing attack on the Trump administration's new tax-and-spending bill. On the social media platform X, he labeled the bill "absurd, wasteful, and shameful," warning of its potential danger to America. Musk claimed the bill would exacerbate the national budget deficit and deepen the economic crisis. He also warned the Congress members who passed the bill that they should be ashamed of their decision.
Elon Musk's Sharp Criticism of Trump's Tax and Spending Bill
In his X post, Musk wrote, "Forgive me, but I can't tolerate this any longer. This bill is a ludicrous, wasteful, and misguided decision by Congress. Those who voted for it know it's wrong." Musk called it a "disgusting abomination" that would severely worsen America's already burgeoning budget deficit.
Musk argued the bill jeopardizes America's financial stability and would place an unbearable debt burden on the nation. He clarified that such spending, without a concrete plan, would weaken the country's economic standing.
Potential $2.5 Trillion Deficit Increase
Elon Musk warned that the bill could drive America's budget deficit to $2.5 trillion. He described this as a major financial crisis for America, further increasing the unstable debt burden. He stated that such bills, without spending cuts and economic reforms, are detrimental to the nation.
Elon Musk's Departure from the Trump Administration
Recently, Elon Musk resigned from his position as chief of the "Deficit Optimization and Government Efficiency (DOGE)" initiative. This department was created to control federal spending and reduce waste. Musk's resignation clearly signaled his dissent from the Trump administration's new spending bill.
White House Rejects Musk's Criticism
White House Press Secretary Caroline Levit downplayed Elon Musk's criticism. She stated that President Donald Trump was already aware of Musk's views but that they wouldn't alter his stance. She referred to it as a "big beautiful bill" and indicated Trump's full support for the legislation.
Musk's Substantial Financial Contribution to Trump
It's noteworthy that Elon Musk donated over $250 million to Trump's 2024 presidential campaign. While he had launched initiatives for economic reforms, he has now clearly indicated his disapproval of the Trump administration's new tax bill.
