Trump says Elon Musk will face 'serious consequences' if he backs Democratic candidates
President Donald Trump told NBC News on Saturday that Elon Musk would see "serious consequences" if he backs Democratic candidates who challenge Republicans supporting the "big, beautiful bill."
"If he does, he'll have to pay the consequences for that," Trump told NBC News' Kristen Welker in a phone interview.
"He'll have to pay very serious consequences if he does that," he continued, without giving specifics on what that would look like.
Trump also said that he thinks his relationship with Musk is done after their public feud erupted this week.
"I gave him a lot of breaks, long before this happened, I gave him breaks in my first administration and saved his life in my first administration," Trump said.
"I have no intention of speaking to him," Trump added.
When asked whether he thinks his relationship with Musk is over, he said, "I would assume so."
Trump also accused Musk of being "disrespectful to the office of the president."
Trump's remarks are among his most extensive public comments yet on his feud with Musk, and the latest sign that the president is not interested in mending his relationship with the onetime ally.
Musk has been a vocal critic of the Trump-backed spending bill that moved through the House last month.
Earlier this week, Musk called the spending bill a "disgusting abomination" that will lead to exploding federal budget deficits.
"In November next year, we fire all politicians who betrayed the American people," he wrote in a separate X post.
Musk's criticism of the spending package — which is now being considered in the Senate — is in part what spurred the clash between the two men.
Trump told NBC News that he is still "very confident" that the bill will be passed by July 4, and that he doesn't think Musk could derail the bill.
"If you look at the Republicans, we've never been more unified," Trump told NBC News. "The bill is fantastic."
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That means a 23% benefit cut would be necessary in 2035. Fortunately, the lawmakers in Washington have several years to find a better solution. Here are four Social Security changes that could prevent deep, across-the-board benefit cuts. 1. Apply the Social Security payroll tax to income above $400,000 Social Security is primarily funded by a dedicated payroll tax, which takes 6.2% of wages from workers and employers. But some income is exempt from the payroll tax. Specifically, the maximum taxable earnings limit is $176,100 in 2025. Income above that threshold is not taxed by Social Security. Importantly, the Social Security program is projected to run a $23 trillion deficit over the next 75 years as it's strained by shifting demographics. But the deficit could be slashed by applying the payroll tax to more income. For instance, including income above $400,000 would eliminate 60% of the 75-year funding shortfall, says the University of Maryland. 2. Gradually increase the Social Security payroll tax rate to 6.5% over six years Under current law, the Social Security payroll tax rate is 6.2% for workers and their employers. But gradually raising that figure would eliminate a portion of the long-term deficit. For example, increasing thetax rate by 0.05% annually over a six-year period would eliminate 15% of the 75-year funding shortfall, according to the University of Maryland. Now that I've discussed two possible changes, let's step back and look at the big picture. There are basically three ways to resolve Social Security's financial problems: (1) increase revenue, (2) reduce costs or (3) some combination of the first two options. The changes discussed so far would increase revenue, but the next two changes would cut benefits. However, they are more subtle cuts than the 23% across-the-board reduction that would follow trust fund depletion. 3. 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Its content is produced independently of USA TODAY. The $23,760 Social Security bonus most retirees completely overlook Offer from the Motley Fool: If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets"could help ensure a boost in your retirement income. One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. JoinStock Advisorto learn more about these strategies. View the "Social Security secrets" »
