Washington - Saba:
The United States will "go bankrupt" without budget cuts, Billionaire Elon Musk, who was tasked by US President Donald Trump to lead efforts to reduce federal spending, said late on Tuesday.
Musk's statement, who was appointed chairman of the newly created Government Efficiency Committee, came in the presence of Trump, who in recent weeks signed a series of executive orders aimed at reducing federal spending.
In his statement, Musk particularly criticized the country's budget deficit, which exceeded $1.8 trillion in the last fiscal year.
He said that reducing federal spending is not optional.
Musk's statement comes amid a confrontation between the Trump administration and US courts, after federal judges questioned the legality of the White House's cost-cutting measures.
Trump's campaign, which effectively closed some federal agencies and suspended employees from work, has called for legal challenges to be filed across the country.
Several lawsuits seek to stop what opponents of the campaign call an illegal power grab.
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