Tesla and Spacex CEO Elon Musk has been vocal on social media about his concerns over U.S. government spending and national debt, repeatedly stating that America is on the verge of bankruptcy. On several occasions, including on Thursday, Musk responded to a post on X by Wall Street Silver, which highlighted a record $204 billion increase in U.S. government debt on the first day of the fiscal year. The Tesla billionaire emphasized: “America is headed for bankruptcy.”

Musk has consistently warned of government overspending, recently noting that “interest payments on just federal government debt now exceed the entire Defense Department budget.” He has reiterated his concerns over the last few months, often responding to posts on X related to the U.S. debt situation. On Sept. 5, he cautioned that government spending is “driving America to bankruptcy.”

In an earlier post on Aug. 30, Musk emphasized that the current rate of government spending is fueling inflation and pushing the country “in the fast lane to bankruptcy.” His comments often reflect his broader concerns about the unsustainable nature of government debt, such as his reply in July noting that if the debt continues to grow rapidly, “then de facto bankruptcy” will occur.

In response to growing concerns about U.S. economic instability, Musk proposed forming a “government efficiency commission” to reduce wasteful spending. Former President Donald Trump endorsed the idea, and Musk volunteered to lead the commission if Trump wins the November election.