Elon Musk reminds Americans that all government spending comes from their taxes as national debt keeps skyrocketing
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Elon Musk dropped a financial truth bomb recently, saying all government spending is taxation. Whether it’s drained directly through income taxes or silently stolen via inflation, taxpayers are footing the bill.
This statement came in response to Dogecoin creator Billy Markus, who warned about the government overspending by $2 trillion annually for eight straight years. Markus said: “Any company that ran like that would fail. Any person that lived like that would be beyond bankrupt.”
Elon agreed, calling out the real cost of Washington’s spending spree. Now the man has more than just words to offer. With Donald Trump getting back in the Oval, Elon has been named co-head of the new Department of Government Efficiency (D.O.G.E) alongside biotech investor Vivek Ramaswamy.
His mission? Slash federal spending by $2 trillion. That’s nearly 30% of the government’s total $6.75 trillion budget from the 2023 fiscal year. If Elon’s Twitter layoffs are anything to go by, we’re in for a brutal teardown of waste and inefficiency.
The U.S. budget: A house of cards Breaking down the U.S. government’s budget makes Elon’s goal look like trying to move a mountain. Let’s start with the $880 billion spent on interest payments for the national debt. That’s 13% of the total budget and completely untouchable unless the government wants to default.
Social Security, a sacred cow in American politics, eats up $1.46 trillion—22% of total spending—making it another no-go zone for cuts. Add Medicare, the lifeline for seniors, to the mix, and most of the federal budget is locked down in mandatory expenses.
