Elon Musk criticises high trade deficit, expenditure of tax money

Washington, DC: Tesla CEO and DOGE Head, Elon Musk, criticised the current state of US spending, saying that an average citizen in the country "should be mad as hell" over the expenditure of the tax money.

Elon Musk Slams High Trade Deficit and Inefficient Use of Taxpayer Money

In an interview with Fox News telecast on Tuesday (local time), Musk said that US President Donald Trump inherited a USD 2 trillion trade deficit. He further warned that "America will go bankrupt" if it fails to bring the deficit under control. 

Musk Criticizes Government's Handling of Tax Revenue and Trade Deficit

Criticising the USAID spending, he added, "I think the average taxpaying American should be mad as hell because their tax money is being poorly spent."

Elon Musk Calls for Fiscal Responsibility Amid Growing Trade Deficit

"Well, the — the overall goal is to try to get a trillion dollars out of the deficit.  And if we if the deficit is not brought under control, America will go bankrupt. This is a very important thing for people to understand.  A country is no different from an individual, in that if an individual overspends, an individual can go bankrupt, and so can a country.  

Elon Musk Calls for Fiscal Responsibility Amid Growing Trade Deficit

And the out, the massive waste, fraud, and abuse that has been going on, which is leading to a USD 2-trillion-a-year deficit, that’s what the president was handed on Jan 20th, a USD 2 trillion deficit. It’s insane," he said in the interview. 

Musk Questions Government Expenditure as Trade Deficit Hits Record High

Donald Trump agreed, saying, "Yes, we inherited it." He said that inflation is back, but he has nothing to do with it, as the Democrats ran the country for the last 4 years."No, think of it, inflation is back.  And they said, “...I had nothing to do with it. These people have run the country.  They spent money like nobody has ever spent.

Elon Musk Stresses Need for Economic Reforms to Tackle Trade Deficit

 They were given USD 9 trillion to throw out the window — USD 9 trillion, and they spent it on the Green New Scam, I call it.  It’s the greatest scam in the history of the country. One of them. We have a lot of them, I guess.  But one of them," Trump said.

Stating that there are "hundreds of billions of dollars worth of fraud" in the system, Trump said Musk is doing an "amazing job" with the DOGE. 

Trump spoke about the waste and fraud that Elon Musk and DOGE is finding and stressed that Musk is doing an "amazing job."