Another Joe Rogan interview that could be a wake-up call: Elon Musk tells him U.S has to pay $1.1 trillion in interest and could be heading toward bankruptcy

Elon Musk has sounded ominous. The billionaire businessman claimed that the USA economy would collapse soon. While talking to Joe Rogan during "The Joe Rogan Experience," Musk said that urgent measures must be taken to fix the financial loopholes in the American economy, Benzinga reported.

Citing the Treasury Department's report, Musk said the USA is 'drowning' in debt. He said that current interest payments account for 23 per cent of the federal revenue.

Musk said if there is an uptick in the interest payment then expenditure on social security and Medicare will take a hit. The Joe Biden's government had to pay $1 trillion on interest in 2024.


Musk has prescribed a panacea to the issue. Musk has suggested the federal government must cut its expenditure by 30 per cent.

Musk's alarming remarks came barely a fortnight ahead of the President-elect Donald Trump's inauguration scheduled on January 20.

Musk has been a key ally and supporter of Trump ahead of the US election 2024 where the Tesla owner backed the Republican nominee. Experts have claimed that Musk is likely to have a pivotal role in the Trump's Presidency.

Musk plays many roles with President-elect Donald Trump. He is Trump's most important donor, most influential social media promoter and a key adviser on policy and personnel.

Musk, who spent more than a quarter of a billion dollars in the final months of this year's election cycle to help elect Trump, has attended personnel meetings in the Mar-a-Lago Teahouse, sat in on phone calls with foreign leaders and spent hours with Trump in his office.

Musk's employees from his various businesses have also been integrally involved in the transition, vetting prospective candidates for senior administration jobs, in interviews at the Trump transition headquarters in West Palm Beach.

FAQs

Q1. What is the age of Elon Musk?
A1. Elon Musk is 53-year-old.

Q2. When will Donald Trump take charge as US President?
A2. Donald Trump will take charge as the US President on January 20.