Musk posted that the bill will increase the already huge U.S. government budget deficit to 2.5 trillion dollars, placing unbearable debt on the American people, "Congress is pushing America towards bankruptcy." Trump recently warned lawmakers that if they oppose the bill, the public will not forgive.
Written by: Li Dan
Source: Wall Street Journal
Just last Friday, shortly after leaving the "Department of Government Efficiency" (DOGE) which planned budget cuts for the Trump administration, Tesla CEO Elon Musk publicly criticized U.S. President Trump. He openly condemned the massive spending proposal put forth by the Republican Party, and his tone was no longer as "polite" as when he previously questioned it.
On Tuesday, June 3, Eastern Time, Musk posted on his social media that the large-scale tax cuts and spending reduction bill he supports is "disgusting," further exacerbating the already massive federal government deficit in the United States, and that the lawmakers who voted in favor of this bill "were wrong."
Musk first posted a message saying:
"I'm sorry, I really can't take it anymore. This massive congressional spending bill is absurd and filled with political manipulation, it's disgusting. Those who vote in favor of this bill are truly shameful: you know you are doing something wrong. You know it."
Following the above post, Musk posted again, adding:
It will cause the already huge budget deficit to surge to $2.5 trillion (!!!), and burden American citizens with an unbearable debt load.
The top comment with the most likes on Musk's post above was made by World of Statistics, which listed the annual budget deficit of the U.S. government from 2000 to 2024. These figures show that over the past twenty-four years, the U.S. government's deficit has increased from $236 billion to $1.83 trillion, a growth of more than 6.7 times.
Elon Musk retweeted the above highly praised comment and remarked: "The U.S. Congress is driving America to bankruptcy."
The Great Beautiful Act Faces Opposition from All Sides, Trump Warns Legislators: If You Oppose, the Public Will Not Forgive
Musk criticizes the bill as Trump faces attacks from all sides in Congress: hardline senators have openly declared war, demanding the removal of the debt ceiling provision that "explodes the national debt" from the bill.
Senate Republican leader John Thune is facing a tug-of-war among different factions within the party: fiscal hawks are demanding further spending cuts, while moderates are expressing concerns about cuts to social programs such as healthcare. The debt ceiling is the main battlefield of this negotiation. The House version proposes to raise the debt ceiling by $4 trillion, while the current Senate version plans to raise it to $5 trillion.
Senator Rand Paul has become the most direct opponent of the debt ceiling provision, stating clearly: "If the debt ceiling provision is removed, I will likely vote in favor of the rest of the bill, even if it doesn't fully meet my expectations." Paul claims that there are already 4 Republican senators opposing the current version, enough to sink the entire legislation.
Trump directly attacked Paul, warning on social media that if Rand Paul votes against the Great American Rescue Plan, the public will never forgive him.
This is the latest instance of Musk publicly expressing dissatisfaction with the spending plan of the Trump administration, which Trump named the "Great Beautiful Act."
Musk recently said he is "very disappointed" with the bill, which undermines DOGE work.
Last week, Wall Street Journal mentioned that Musk recently stated candidly on a television program that he felt "very disappointed" with the budget bill passed by the House two weeks ago, and also said:
"It is not about reducing the budget deficit, but rather increasing the deficit, which undermines the work the DOGE team is doing."
When mentioning the name of this bill, Musk subtly raised a question at the time: "I think a bill can be large and beautiful, but I don't know if it can achieve both. This is my personal opinion."
In the vote of the U.S. House of Representatives on May 22, the proposal known as the "One Big Beautiful Bill Act" narrowly passed by a single vote.
According to a report by Xinhua News Agency, while Trump and senior Republicans welcomed this, the Democrats expressed dissatisfaction with the significant cuts to social security funding in the bill, and some Republican voters are also concerned about the impact. At the same time, budget agencies, economists, and officials from the U.S. Federal Reserve are deeply worried that the bill may lead to a surge in the federal deficit.
The proposal mainly focuses on: extending the corporate and individual tax cuts introduced during Trump's first presidential term, raising the SALT (state and local tax) deduction cap to $40,000, increasing the debt ceiling by $4 trillion, increasing border security spending, imposing work requirements on the Medicaid program, and eliminating the clean energy tax credits introduced by the Biden administration.
The Congressional Budget Office predicted two weeks ago that the Big Pretty Act would add another $2.3 trillion to the U.S. public debt. Overall, by 2033, the bill would reduce household resources by 4% in the lowest income bracket and increase household resources by 2% in the top income bracket.
The U.S. Federal Budget Accountability Committee expressed deep concerns about this bill. The agency's statement claimed that the House budget framework is a "blatant disregard for fiscal responsibility," and that this bill not only will lead to a surge in national debt by more than $3 trillion, but also buries the hidden danger of a "fiscal cliff" formed by the expiration of large-scale tax cuts and spending policies, which, if continued, could cost tens of trillions of dollars again.
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Public Break! Musk Viciously Criticizes Trump's Spending Case: "Disgusting," Supports of the Legislators "Shameful"
Written by: Li Dan
Source: Wall Street Journal
Just last Friday, shortly after leaving the "Department of Government Efficiency" (DOGE) which planned budget cuts for the Trump administration, Tesla CEO Elon Musk publicly criticized U.S. President Trump. He openly condemned the massive spending proposal put forth by the Republican Party, and his tone was no longer as "polite" as when he previously questioned it.
On Tuesday, June 3, Eastern Time, Musk posted on his social media that the large-scale tax cuts and spending reduction bill he supports is "disgusting," further exacerbating the already massive federal government deficit in the United States, and that the lawmakers who voted in favor of this bill "were wrong."
Musk first posted a message saying:
"I'm sorry, I really can't take it anymore. This massive congressional spending bill is absurd and filled with political manipulation, it's disgusting. Those who vote in favor of this bill are truly shameful: you know you are doing something wrong. You know it."
Following the above post, Musk posted again, adding:
It will cause the already huge budget deficit to surge to $2.5 trillion (!!!), and burden American citizens with an unbearable debt load.
The top comment with the most likes on Musk's post above was made by World of Statistics, which listed the annual budget deficit of the U.S. government from 2000 to 2024. These figures show that over the past twenty-four years, the U.S. government's deficit has increased from $236 billion to $1.83 trillion, a growth of more than 6.7 times.
Elon Musk retweeted the above highly praised comment and remarked: "The U.S. Congress is driving America to bankruptcy."
The Great Beautiful Act Faces Opposition from All Sides, Trump Warns Legislators: If You Oppose, the Public Will Not Forgive
Musk criticizes the bill as Trump faces attacks from all sides in Congress: hardline senators have openly declared war, demanding the removal of the debt ceiling provision that "explodes the national debt" from the bill.
Senate Republican leader John Thune is facing a tug-of-war among different factions within the party: fiscal hawks are demanding further spending cuts, while moderates are expressing concerns about cuts to social programs such as healthcare. The debt ceiling is the main battlefield of this negotiation. The House version proposes to raise the debt ceiling by $4 trillion, while the current Senate version plans to raise it to $5 trillion.
Senator Rand Paul has become the most direct opponent of the debt ceiling provision, stating clearly: "If the debt ceiling provision is removed, I will likely vote in favor of the rest of the bill, even if it doesn't fully meet my expectations." Paul claims that there are already 4 Republican senators opposing the current version, enough to sink the entire legislation.
Trump directly attacked Paul, warning on social media that if Rand Paul votes against the Great American Rescue Plan, the public will never forgive him.
This is the latest instance of Musk publicly expressing dissatisfaction with the spending plan of the Trump administration, which Trump named the "Great Beautiful Act."
Musk recently said he is "very disappointed" with the bill, which undermines DOGE work.
Last week, Wall Street Journal mentioned that Musk recently stated candidly on a television program that he felt "very disappointed" with the budget bill passed by the House two weeks ago, and also said:
"It is not about reducing the budget deficit, but rather increasing the deficit, which undermines the work the DOGE team is doing."
When mentioning the name of this bill, Musk subtly raised a question at the time: "I think a bill can be large and beautiful, but I don't know if it can achieve both. This is my personal opinion."
In the vote of the U.S. House of Representatives on May 22, the proposal known as the "One Big Beautiful Bill Act" narrowly passed by a single vote.
According to a report by Xinhua News Agency, while Trump and senior Republicans welcomed this, the Democrats expressed dissatisfaction with the significant cuts to social security funding in the bill, and some Republican voters are also concerned about the impact. At the same time, budget agencies, economists, and officials from the U.S. Federal Reserve are deeply worried that the bill may lead to a surge in the federal deficit.
The proposal mainly focuses on: extending the corporate and individual tax cuts introduced during Trump's first presidential term, raising the SALT (state and local tax) deduction cap to $40,000, increasing the debt ceiling by $4 trillion, increasing border security spending, imposing work requirements on the Medicaid program, and eliminating the clean energy tax credits introduced by the Biden administration.
The Congressional Budget Office predicted two weeks ago that the Big Pretty Act would add another $2.3 trillion to the U.S. public debt. Overall, by 2033, the bill would reduce household resources by 4% in the lowest income bracket and increase household resources by 2% in the top income bracket.
The U.S. Federal Budget Accountability Committee expressed deep concerns about this bill. The agency's statement claimed that the House budget framework is a "blatant disregard for fiscal responsibility," and that this bill not only will lead to a surge in national debt by more than $3 trillion, but also buries the hidden danger of a "fiscal cliff" formed by the expiration of large-scale tax cuts and spending policies, which, if continued, could cost tens of trillions of dollars again.