Washington - Saba:
US billionaire Elon Musk on Tuesday expressed a pessimistic view of the future of the US economy, which is on the verge of bankruptcy.
Billionaire Elon Musk wrote a post on the "X" platform, saying: He expects the United States to go bankrupt.
Musk said in his post: "America is very quickly approaching actual bankruptcy," Musk said, commenting on expectations of rising US government debt.
During US President Joe Biden's tenure, the national debt rose from 28 trillion in 2021 to the current record of over 36 trillion dollars.
The main reason for the accumulation of debt is the chronic deficit of the US state budget.
The last time the US had a sustainable surplus was nearly a century ago, lasting from 1920 to 1930, and over the next 40 years the budget only ran a surplus eight times.
In 2002, the US budget again ran a deficit of $158 billion, and in contrast to previous periods, the government was unable to contain the growth of the deficit. Seven years later, the deficit exceeded $1 trillion for the first time, but then returned to more moderate figures, and over the past two years the deficit has resumed growing again, totaling $1.8 trillion at the end of last year.
US billionaire Elon Musk on Tuesday expressed a pessimistic view of the future of the US economy, which is on the verge of bankruptcy.
Billionaire Elon Musk wrote a post on the "X" platform, saying: He expects the United States to go bankrupt.
Musk said in his post: "America is very quickly approaching actual bankruptcy," Musk said, commenting on expectations of rising US government debt.
During US President Joe Biden's tenure, the national debt rose from 28 trillion in 2021 to the current record of over 36 trillion dollars.
The main reason for the accumulation of debt is the chronic deficit of the US state budget.
The last time the US had a sustainable surplus was nearly a century ago, lasting from 1920 to 1930, and over the next 40 years the budget only ran a surplus eight times.
In 2002, the US budget again ran a deficit of $158 billion, and in contrast to previous periods, the government was unable to contain the growth of the deficit. Seven years later, the deficit exceeded $1 trillion for the first time, but then returned to more moderate figures, and over the past two years the deficit has resumed growing again, totaling $1.8 trillion at the end of last year.