Musk's ‘Debt Slavery' Warning Intensifies GOP Spending Bill Debate

Arabian Post

2 days ago

Elon Musk has launched a scathing attack on President Donald Trump's proposed $4 trillion tax and spending bill, branding it the 'Debt Slavery Bill' and urging Americans to pressure lawmakers to reject it. The Tesla and SpaceX CEO's criticism comes as the U.S. national debt approaches $37 trillion, with the Congressional Budget Office projecting the bill would add approximately $2.4 trillion to the deficit over the next decade.
Musk's denunciation marks a sharp reversal from his previous role as head of the Department of Government Efficiency under Trump. In a series of posts on his social media platform, X, Musk described the bill as a 'disgusting abomination' and warned that its passage would plunge the nation into 'debt slavery.' He called on his 220 million followers to contact their representatives, stating, 'Bankrupting America is NOT ok!'
The legislation, officially titled the 'One Big Beautiful Bill Act,' was narrowly approved by the House on May 22 and is now under consideration in the Senate. It includes permanent tax cuts estimated to reduce federal revenues by $3.7 trillion, offset by $1.5 trillion in spending cuts and nearly $300 billion in additional defense and border security funding. The bill also proposes significant reductions to Medicaid and food assistance programs, introducing new work requirements for recipients.
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Critics argue that the bill's fiscal measures disproportionately benefit the wealthy while placing undue burdens on low-income Americans. Senator Rand Paul of Kentucky has voiced strong opposition, labeling the debt ceiling increase as 'the greatest in U.S. history' and asserting that the GOP now owns the resulting fiscal consequences. Similarly, Senator Josh Hawley of Missouri has expressed concerns over the proposed Medicaid cuts, calling them 'morally wrong and politically suicidal.'
Supporters of the bill, including House Speaker Mike Johnson, contend that the tax cuts will stimulate economic growth sufficient to offset the deficit increases. They argue that the legislation is necessary to maintain America's competitive edge and bolster national security. However, the CBO's analysis contradicts these claims, indicating that the bill would significantly exacerbate the national debt without delivering the promised economic benefits.
Musk's opposition is not solely based on fiscal concerns. The bill's elimination of electric vehicle tax credits could adversely affect Tesla's bottom line, potentially costing the company billions. Additionally, the withdrawal of Musk's ally Jared Isaacman as a nominee for NASA administrator has further strained relations between Musk and the Trump administration.
The controversy surrounding the bill has intensified as the Senate deliberates its provisions. Several Republican senators have expressed reservations, and the bill's passage is far from certain. Musk's vocal opposition has galvanized public discourse, with many Americans taking to social media to echo his concerns and urge their representatives to reconsider their support.