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Elon Musk says there's substantial ignorance about America's national debt
[FoxNews] The US national debt is more than $36 trillion Business magnate Elon Musk, who has been sounding the alarm about America's gargantuan, ever-expanding national debt, claimed that many people are unaware of the problem. "A significant % of people don’t even know that there is such a thing as a national debt!" Musk declared in a post on X. "Those that do often don’t know how big it is or that our interest payments now exceed what we spend on our military. Only a small % understand that government overspending causes inflation," he added. The national debt has soared past $36 trillion. "America is going bankrupt fast," Musk warned in another post. "The excess government spending is what causes inflation! ALL government spending is taxation. This is a very important concept to appreciate. It is either direct taxation, like income tax, or indirect via inflation due to increasing the money supply," he asserted in a tweet earlier this month.
Posted by: Skidmark 2024-11-28 |
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