The world's richest man and Tesla CEO Elon Musk has issued a warning about the financial outlook in the United States, expressing concerns over the $36.17 trillion national debt. 🔥🔥🔥
He warned that if swift action is not taken, the value of the dollar could plummet to zero, leading to a financial collapse. 23% of the government's total revenue has already been consumed by interest on debt, and this is continuing to rise, indicating that funding for key projects will be depleted.
In fiscal year 2024, federal interest payments could reach $1.1265 trillion, with total revenue at $4.92 trillion. Musk's warning serves as a wake-up call for policymakers. In the face of these challenges, he suggests investing in real estate, strong stocks, and gold for preservation of value.
Musk believes that if the U.S. does not take action, it will face bankruptcy, as rising national debt and inflation will lead to the devaluation of the dollar. He pointed out that the total amount of national debt is enormous, and interest payments are crowding out funding for essential services.
Live like a dot, don't miss the bull market.