by Mitch Kokai
Senior Political Analyst, John Locke Foundation
Elon Musk, the CEO of SpaceX and Tesla, said Thursday that the record-high $30 trillion national debt is unsustainable.
Musk responded to a headline from the Babylon Bee that read “Biden Goes Double Or Nothing On National Debt By Placing $30 Trillion On The Bengals” by arguing that there is nothing comical about the debt growing under President Joe Biden.
“True national debt, including unfunded entitlements, is at least $60 trillion — roughly three times the size of the entire US economy,” he tweeted.
“Something has got to give.”
The Biden administration has continuously pushed a left-wing social spending agenda, and experts say it has done so in spite of fiscal consequences, according to a report.
Had the $1.75 trillion Build Back Better Act been passed with an extension of its provisions, the national debt of the United States would have grown by 24% within the span of 30 years, according to the Penn Wharton Budget Model.
“People are saying we’re going to give you free college, free cars, free cellphones, free this, free that,” Sen. Rand Paul, a Kentucky Republican, said last year as the debt closed in on $30 trillion.
“Everything in life will be free. You won’t have to work anymore,” he said. “The problem is there are ramifications. Money doesn’t grow on trees — money’s got to come from somewhere.”
It’s the latest interesting pronouncement from Musk. He’s also had unkind words recently for President Joe Biden.
Tech billionaire Elon Musk had some choice words for President Joe Biden on Twitter. ..
… Musk responded, “Biden is treating the American public like fools.”
Musk agreed with another user, Eva Fox, who also cast “shame on Biden.”
“Biden is a damp [sock] puppet in human form,” Musk wrote, responding to Fox’s tweet.