Tesla boss Elon Musk has been consistently in the news and on the social media platform he owns, reacting to various facets of the political paradigm in the US.
His participation and subsequent commentary on various matters have risen significantly since former US President Donald Trump's assassination attempt earlier this month.
In Musk's latest attack on more conventional ground, Musk has reacted to the debt levels of the United States.
Musk was quoting a post from another account, named 'Wall Street Silver'. The account posted a photograph/graphic of the debt numbers. In the unverified chart/graph, the US debt is claimed to be at USD 35 trillion.
And according to the X user who posted this graphic, "Since January 2020, the debt has ballooned by 50 per cent from USD 23 trillion to USD 35 trillion.
The account further added, "Interest on the debt has also skyrocketed with higher rates, averaging around 5 per cent lately. Interest on the debt is on pace for USD 1.5 trillion next year, about 30 per cent of all government revenue collected."
Musk, in his own style, reacted to this post and said, "This is crazy".
A higher debt burden has always been the focal point of the larger Republican narrative, which has believed in cutting the size of the state, apart from bringing sharp cuts to government expenditure. |
The Debt Problem
It is to be noted that Musk has made a deeper plunge into the right-wing ecosystem of the United States over the past few years and has always called himself fiscally conservative, even when the SpaceX boss was supposedly socially non-conservative.
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A higher debt burden has always been the focal point of the larger Republican narrative, which has believed in cutting the size of the state apart from bringing sharp cuts to government expenditure.
It is to be noted that many major economies have an overall debt burden that is much higher than the size of their economies. Japan, with a GDP of over USD 4 trillion, has a total fiscal debt of around USD 9.2 trillion, which, as one can understand, is double the size of its GDP.
