Billionaire Elon Musk spoke about why he’s passionate about the work done by the Department of Government Efficiency (DOGE) to cut federal spending, saying he thinks it’s needed to prevent the country from sinking into bankruptcy.
Musk was asked during an appearance on Fox News’ “Hannity” why spending cuts and the elimination of alleged fraud, waste and abuse is needed to shore up the U.S. government’s finances.
“The government waste and fraud is so high that it is causing a $2 trillion annual deficit, so that’s 2,000 billion dollars of waste and fraud that’s happening,” Musk claimed. “The cost of our debt has gotten so high that just the interest payments on the debt exceed the entire military budget, and it was just growing out of control.”
“The country is going bankrupt. A country is no different from a person. If a country overspends and doesn’t spend wisely, just like a person, a country will go bankrupt,” he explained.
“So, the reason I’m here is because I’m very worried about the country going bankrupt due to the corruption and waste. And if we don’t do something about it, the ship of America is going to sink. And we’re all on that ship,” Musk said.
He then said that Americans who have wealth or control companies should be supportive of DOGE’s efforts because if the country goes bankrupt, those businesses would no longer exist.
