Elon Musk, the head of the newly established Department of Government Efficiency (DOGE), alongside Vivek Ramaswamy, has issued a stark warning regarding the precarious financial state of the United States. In a recent post on X, Musk highlighted alarming statistics sourced from the US Department of the Treasury, indicating that US is burdened by three layers of debt: a budget deficit of $1.4 trillion, a national debt totaling $31.5 trillion, and unfunded obligations amounting to $75.3 trillion.
In his post, SpaceX CEO Elon Musk cautioned, “America is headed for disaster, with no money for anything, unless the government overspending is addressed.”
Department of Government Efficiency (DOGE) is a proposed presidential advisory commission in the United States.
The House of Representatives decisively rejected President-elect Donald Trump’s proposed plan to fund federal operations and suspend the debt ceiling, just one day before a looming government shutdown.
The vote, marked by heated exchanges, resulted in a failure to meet the necessary two-thirds majority, with the final tally at 174-235 against the bill. House Speaker Mike Johnson expressed determination to regroup before the midnight deadline, stating, “We’re going to do the right thing here.”
President-elect Donald Trump has demanded that a provision raising or suspending the nation’s debt limit — something that his own party routinely resists — be included in legislation to avert a government shutdown. “Anything else is a betrayal of our country,” Trump said in a statement Wednesday.
Republicans quickly complied, including a provision in a revamped government funding proposal that would suspend the debt ceiling for two years, until January 30, 2027.
Donald Trump’s proposal aimed to extend government funding for three months, allocate $100.4 billion in disaster assistance for states affected by recent hurricanes.
However, it faced significant backlash from both Democrats and a faction of Republicans who were unwilling to accommodate Trump’s sudden demands.
The rejection of this plan marks a considerable setback for Donald Trump and his influential ally Elon Musk, who openly criticized Johnson’s bipartisan compromise designed to prevent a Christmas-time shutdown.
Democrats condemned the GOP’s retreat from a previously negotiated bipartisan agreement, with House Democratic Leader Hakeem Jeffries asserting that any harm resulting from a shutdown would be owned by House Republicans.
America is headed for disaster, with no money for anything, unless the government overspending is addressed.
Meanwhile, Elon Musk’s influence loomed large as he rallied conservatives against the funding bill, which he deemed unacceptable.
As Congress grapples with this self-imposed crisis, the path forward remains uncertain, highlighting the challenges ahead for Republican leadership in uniting their party while addressing critical funding needs for federal operations.
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Publish date : 2024-12-19 12:54:00
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