Donald Trump’s Tax Cuts Could Add $2.4T to Debt, Says Elon Musk

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Elon Musk just echoed what many Bitcoin supporters have been saying for years — the U.S. government is spending way more than it can afford, and things could be heading toward a financial disaster. In a recent post, Musk pointed out how Trump’s tax cuts could add a whopping $2.4 trillion to the country’s already massive debt. His warning adds weight to the growing fear that America’s financial foundation isn’t as strong as it seems.

If America goes broke, nothing else matters https://t.co/oKABYH2YZn

— Elon Musk (@elonmusk) June 6, 2025

Mounting Debt, Growing Doubts

The U.S. national debt now sits at $36 trillion, with $1.13 trillion in annual interest payments. Fiscal concerns have already driven investors toward alternative assets like Bitcoin and gold, as government borrowing spirals out of control. Musk’s warning comes as more analysts highlight how raising the debt ceiling repeatedly is simply masking long-standing insolvency. Fiscal hawks argue the U.S. is effectively bankrupt, something Bitcoiners have said for years.

Is the Fiat System Broken?

BREAKING: Foreign Demand for U.S. Treasuries COLLAPSES as America Faces Record Debt Rollovers ($7 Trillion) and a $1.9 Trillion Deficit in 2025 alone.

The buyers are gone, the bills are due, and the clock just struck midnight. The BIG PRINT is upon us . pic.twitter.com/JYk33QI6aD

— Carl ₿ MENGER (@CarlBMenger) May 5, 2025

Bitcoin believers have long pointed to the flaws of the debt-based fiat system. With debt-to-GDP ratios in advanced nations now topping 100%, new borrowing no longer fuels real growth. Instead, it reduces the economy’s ability to recover, like eating too much ice cream until you get sick. Economists argue the system is unsustainable without drastic policy changes.

Where Do We Go from Here?

Experts like Russell Napier say governments could try inflating away the debt, implementing financial repression, or devaluing currencies, all of which could push more investors into crypto. With Musk now joining the conversation, the urgency of the issue feels more real. His influence could speed up the shift of big players into assets like Bitcoin, XRP, and gold.

In short, if fiscal discipline isn’t restored soon, the world may be forced to rethink what “money” means, and crypto could play a starring role in that shift.