Elon Musk Criticizes Proposed Spending Bill Amid Rising National Debt

Elon Musk criticized President Trump's proposed spending package, the One Big Beautiful Bill Act, labeling it a fiscal disaster. He highlighted that the bill represents the largest increase in the U.S. debt ceiling in history.

Musk stated:

The bill is termed the "Debt Slavery Bill."
The 1,100-page legislation was approved by the House on May 22 and is now under Senate negotiation.
It includes $1.2 trillion cuts to Medicaid and food assistance alongside permanent tax breaks and $150 billion for defense and border security.
The Congressional Budget Office projects an addition of $2.4 trillion to the deficit over the next decade.
The U.S. national debt approaches $37 trillion, raising concerns among fiscal conservatives and tech leaders.
The White House aims for Senate passage before July 4.