So, here’s something that raised a few eyebrows—Elon Musk is now stepping into the government efficiency chat, and yeah, he’s not exactly sugarcoating things.
In a new post on X (yep, still calling it that), Musk gave a pretty blunt assessment of where the U.S. is headed financially. The way he sees it? We’re basically trying to bail out a sinking ship with a coffee mug, and the only real solution is to speed up the economy. Like, a lot.
Musk is currently heading up a government group called—wait for it—the Department of Government Efficiency, aka DOGE. And no, it’s not just a meme nod. He says they’re doing everything they can to keep America from hitting financial rock bottom. But even with their efforts, he made it clear: trimming fat won’t fix this mess for good.
“DOGE has and will do great work to postpone the day of bankruptcy of America,” Musk posted, “but the profligacy of government means that only radical improvements in productivity can save our country.”
Translation? We’ve got a spending problem, and unless the GDP (Gross Domestic Product) takes off like a SpaceX rocket, we’re in serious trouble.
Backing him up is Treasury Secretary Scott Bessent, who chimed in during an interview on Fox News. He echoed the same idea—that the only way out is through. Specifically, through smart growth.
“If we change the growth trajectory of the country, of the economy, then we will stabilize our finances and grow our way out of this.”
It’s not just talk either. The numbers are grim. According to the latest from the U.S. Treasury, our national debt just hit $36.215 trillion. That’s not a typo. And it now sits at 122% of the country’s GDP. That means we owe more than we produce. Kinda like maxing out three credit cards with no plan to pay them back.
So while DOGE may be patching leaks in the system and squeezing out some savings here and there, both Musk and Bessent agree it won’t be enough in the long haul. What the U.S. really needs is a productivity boom—some kind of economic energy shot—to outpace the ballooning debt.
Until then, it’s a waiting game between innovation and insolvency.
FAQs
Is Elon Musk really running a government department?
Yes—he’s leading DOGE, the Department of Government Efficiency.
What’s DOGE’s role?
It’s aimed at cutting government waste and improving operational efficiency.
How big is the national debt now?
As of the latest update, it’s $36.215 trillion—122% of U.S. GDP.