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    Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Elon Musk Slams ‘One Big Beautiful Bill’ as a Path to U.S. Bankruptcy

Story Highlights
  • Elon Musk slams the $5.1T "One Big Beautiful Bill," warning of U.S. bankruptcy as political leaders clash over debt, spending, and fiscal priorities.

  • Musk's exit from DOGE doesnโ€™t silence himโ€”he joins lawmakers in criticizing the bill, while the White House defends it as vital for tax relief.

Elon Musk has reignited the national debate on government spending with a fiery outburst against Congress. Reacting to the newly passed โ€œOne Big Beautiful Bill Act,โ€ Musk called it a โ€œdisgusting abominationโ€ and warned that itโ€™s pushing the United States toward bankruptcy. In a post on X, he took a jab at this bill and said, โ€œIโ€™m sorry, but I just canโ€™t stand it anymore.โ€ Muskโ€™s controversial statements are not new, and this one is hitting hard, creating a storm inside the white house.ย 

Trillions in New Debt

The bill, championed by President Donald Trump, is projected to add up to $5.1 trillion to the U.S. national debt over the next decade, according to the Committee for a Responsible Federal Budget. Musk echoed those concerns, warning that it would โ€œmassively increase the already gigantic budget deficit to $2.5 trillionโ€ and load American citizens with โ€œcrushingly unsustainable debt.โ€ 

End of DOGE Role, Not the Criticism

Muskโ€™s comments come just days after he stepped down from his role leading the Department of Government Efficiency (DOGE). Though no longer in an official position, he stressed that the mission of DOGE would continue within government structures. His exit didnโ€™t mute his voice, he has strongly objected to the bill despite of congress funding cut initiated on DOGE.ย 

However, Musk isnโ€™t alone in his frustration. Senator Rand Paul echoed Muskโ€™s concerns, calling the bill โ€œa huge mistake.โ€ He criticized the reckless addition of trillions in federal debt and emphasized the need for fiscal discipline. Meanwhile, the White House defended the bill, calling it vital for preserving tax relief. Despite the backlash, White House Press Secretary Karoline Leavitt defended the bill, saying it preserves tax relief and supports national interests.

As America braces for what could be a deeper fiscal divide, Muskโ€™s warnings are sparking fresh outrage and perhaps a new round of political debate.

Not All in Syncโ€ฆ.

Meanwhile, House Speaker Mike Johnson pushed back strongly against Elon Muskโ€™s criticism of the new spending bill, suggesting on X that any cuts recommended by the now-defunct DOGE initiative would be formally handled through Congressโ€™s rescissions and appropriations processes. Responding to Muskโ€™s alarm over rising federal debt, Johnson insisted that โ€œwith all due respect, Elon is simply wrong about the One Big Beautiful Bill,โ€ signaling deep disagreement over the billโ€™s fiscal impact.

In response, Senator Mike Lee warned that current government spending has reached a crisis point, especially since 2020, and stressed that it canโ€™t be ignored. While acknowledging that the โ€œBig, Beautiful Billโ€ is a reconciliation package, he argued it must go further to address the problem meaningfully, especially if it hopes to pass the Senate.

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FAQs

What is the One Big Beautiful Bill?

It’s a U.S. budget reconciliation bill proposing tax cuts, spending adjustments, and a $4T debt ceiling increase, potentially adding $5.1T to national debt.

What are the key provisions of the bill?

It extends 2017 tax cuts, increases defense spending, cuts Medicaid and SNAP funding, and raises the debt ceiling by $4T.

Why did Elon Musk step down from DOGE?

Musk left DOGE but said its mission will continue in government despite funding cuts.

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