Latest news with #spendingBill
Fox News
an hour ago
- Business
- Fox News
MAGA country voters sound alarm over ‘ridiculous' national debt amid debate over Trump-backed bill
Voters in red areas of the country are ringing alarm bells over the country's national debt just as President Donald Trump wants Congress to pass a bill experts say will add trillions to it over the next few years. Fox News Digital spoke to voters in Trump voting districts throughout the United States to gauge how they feel about the U.S. national debt. Most of them said that it was a significant cause for concern, and some even called out the president they support for adding to it. "We need to address the national debt, and I thought that Trump was doing that when he brought in [Elon] Musk. Don't get me wrong, I'm a Trump supporter. But I think his spending's gotten a little bit out of control," Art, in Lapeer, Michigan, told Fox. The national debt currently sits at $36.2 trillion and counting, according to Fox Business' National Debt Tracker. A new spending bill – dubbed the "big, beautiful bill" by Trump – has reinvigorated concern over how much higher the debt, with its implications for economic growth and future spending, can get. The sweeping tax cuts and spending package, passed by the GOP-controlled House in May, addresses many of the president's legislative priorities on cutting taxes, boosting border security, American energy, defense, and rolling back some of former President Joe Biden's environmental regulations and tax credits. However, the nonpartisan Congressional Budget Office has projected the legislation would add $2.4 trillion to the national debt, prompting criticism from even Trump allies like Sen. Rand Paul, R-Ky., and Sen. Rick Scott, R-Fla. Former Department of Government Efficiency head Elon Musk even publicly feuded with the president over the bill last week, in a spat that played out on social media. Ahead of the upcoming Senate vote on passing the bill, Fox News Digital asked voters in Republican voting precincts about the national debt, and many responded they had serious reservations. A woman in Staten Island, New York, who asked to remain anonymous, told Fox, "It's too big. And we're leaving it for the future, for our children, and we're leaving all that debt on them to pay for. I don't think that's right." "We can't keep spending ourselves into the ground and leaving that burden for our children and grandchildren," Franceen in Boca Raton, Florida, declared. Chris from Cypress, Texas said, "I mean, I'm inheriting it, my kids are inheriting it, and we've got to cut it off, or we're going to default." Front Royal, Virginia, resident Frank told Fox that the debt has been a "longstanding problem." "It's probably going to be there even after I'm gone, but yeah, of course, any country has a problem with their debt. Of course, it's a problem," he said. Joe in Lapeer said, "Yes, I think it is an issue. So, at this time, I think it's going to level out over time. It can't keep going the way it was going, put it that way. You know, that's my opinion." A man from Staten Island, who asked to remain anonymous, acknowledged the problem but expressed hope that Trump will try to right the ship. "I think it's always a problem," he said. "I think the other party was just – made everything upside down and now Trump's trying to fix it. So, it's going to take a few years, but I think we're on the right track." "It is a huge problem," Chad in Cypress, Texas, declared. "You know, we've got to the point right now – I think we're $34, $36 trillion in debt. And it's like running up a credit card, you know, sooner or later the bill has to be paid and there's no reason for America to be in debt." However, another gentleman from Staten Island, who also asked to remain anonymous, told Fox he wasn't too concerned. "I have no idea what the debt is. I could care less what the national debt is, as long as Trump makes this country a little better. National debt has been in existence for hundreds of years, right?" he said.
News24
4 days ago
- Automotive
- News24
Trump-Musk feud: ‘Alphas' clash triggers Russian mockery and EU invite
Brendan Smialowski/AFP US President Donald Trump has no plans to speak to billionaire Elon Musk and may even ditch his red Tesla car, the White House said on Friday after a stunning public divorce fraught with risk for both men. Trump's camp insisted that he wanted to move on from the row with the South African-born Musk, with officials telling AFP that the tech tycoon had requested a call but that the president was not interested. The Republican instead intended to focus on getting the US Congress to pass his 'big, beautiful' spending bill - Musk's harsh criticisms of which had triggered the meltdown on Thursday. Fallout from the blow up between the world's richest person and its most powerful could be significant, as Trump risks political damage and Musk faces the loss of huge US government contracts. Trump phoned reporters at several US broadcast networks to insist that he was looking past the row. He called Musk 'the man who has lost his mind' in a call to ABC and told CBS he was 'totally' focused on the presidency. The White House meanwhile squashed earlier reports that they would talk. 'The president does not intend to speak to Musk today,' a senior White House official told AFP on condition of anonymity. A second official said it was 'true' that Musk had requested a call. 'Alphas having a go at each other' Musk's father, Errol weighed in on the spat in an interview with Al Arabiya, saying, 'it seems a bit silly to me'. Labelling money that is being given to the Democrats to vote for the bill as 'schemes', Errol said Musk is concerned and feels it is 'not the right thing to do', although he hasn't spoken to Musk since the fallout. The spat is 'just a bump in the road,' according to Errol, who says he messaged his son and told him to 'make sure this fizzles out. Now.' When people have been through a great deal of stress, as they've been... you can expect this kind of thing. Eventually, people reach a point where they lash out. I think there's a bit of tiredness here. Errol Musk He believes the president will prevail, because the Americans are '100% behind Trump'. The reasoning behind Musk bringing up the Epstein files, according to Errol, is because people lash out. 'That's a silly mistake. Let the innocent person cast the first stone.' In Errol's opinion, 'it's just elephant bulls or alphas, having a go at each other'. The feud between Trump and Musk provoked chatter, mockery and amusement among the ruling class in Moscow, where one senior official joked about hosting peace talks and another said Musk should bring his businesses to Russia. 'Elon, don't be upset!' nationalist senator Dmitry Rogozin, who once ran Russia's space programme, wrote on Musk's X social media site. 'If you encounter insurmountable problems in the US, come to us. Here you will find reliable comrades and complete freedom of technical creativity.' Elon @elonmusk, don't be upset! You are respected in Russia. If you encounter insurmountable problems in the US, come to us and become one of us - a "Bars-Sarmat" fighter. Here you will find reliable comrades and complete freedom of technical creativity. — ROGOZIN (@Rogozin) June 6, 2025 Dmitry Medvedev, a senior security official and former president, posted: 'We are ready to facilitate the conclusion of a peace deal between D and E for a reasonable fee and to accept Starlink shares as payment. Don't fight, guys!' We are ready to facilitate the conclusion of a peace deal between D and E for a reasonable fee and to accept Starlink shares as payment. Don't fight, guys😱! — Dmitry Medvedev (@MedvedevRussiaE) June 6, 2025 The public feud between the US president and the world's richest man was an easy target for Russian politicians who have a history of gloating over perceived turmoil in Washington. Musk 'very welcome' in Europe Meanwhile, a spokesperson for the European Commission quipped on Friday that Musk is 'very welcome' in Europe. At the commission's daily briefing, spokesperson Paula Pinho was asked whether Musk had reached out to the European Union (EU) with a view to relocating his businesses, or setting up new ones. 'He's very welcome,' she replied with a smile. The commission's spokesperson for tech matters, Thomas Regnier, followed up by stressing - straight-faced - that 'everyone is very welcome indeed to start and to scale in the EU'. 'That is precisely the objective of Choose Europe,' he said, referencing an EU initiative in favour of start-ups and expanding businesses. READ | Chainsaw politics: How Elon Musk shot up in Trump orbit before flaming out of DOGE Musk has been a frequent critic of the 27-nation EU - attacking its digital laws as censorship and berating its leaders, while cheering on the ascendant far-right in Germany and elsewhere. The tycoon's row with Trump saw the president threaten to strip him of government contracts estimated at $18 billion - with Musk vowing in response to end a critical US spaceship programme. Explaining the rift, Trump said Musk had gone 'crazy' about a plan to end electric vehicle subsidies in the new US spending bill - as the bust-up sent shares in Musk's Tesla car company plunging. Continuing with its mockery on Friday, Margarita Simonyan, one of Russia's most powerful state media executives, mocked it as an example of 'modern US political culture' - 'Sort of like the English Industrial Revolution. Only in reverse.' Kirill Dmitriev, head of Russia's sovereign wealth fund, who has in the past tried to interest Musk in cooperating with Russia on flights to Mars, asked on X: 'Why can't we all just get along?' He then asked Grok, X's AI chatbot, how Musk and Trump could reconcile. Why can't we all just get along? — Kirill A. Dmitriev (@kadmitriev) June 5, 2025 Kremlin spokesperson Dmitry Peskov, when asked about the clash, said it was an internal matter for the US, though he was confident that Trump would handle it. 'Presidents handle a huge number of different things at the same time, some more and some less important,' Peskov said. Others saw clear benefit for Russia from the feud distracting Washington. 'We can just be glad that they won't have time for us,' said Konstantin Malofeyev, a hardline nationalist tycoon, who said it was now 'the best time to strike back' against Ukraine. Meanwhile, Trump is considering offloading a Tesla he said he bought earlier this year to show support for Musk, a White House official said on Friday. The red electric vehicle, which retails for around $80 000, was still in a parking lot on the White House grounds on Friday, an AFP reporter said. 'He's thinking about it, yes,' a senior White House official told AFP when asked if the Republican would sell or give away the Tesla. Tesla stocks had tanked more than 14% on Thursday amid the row, losing some $100 billion of the company's market value, but leapt back in early trading on Friday. Brendan Smialowski/AFP Trump, who does not drive as a president, said he was buying the Tesla in March to boost support for his mega-donor, whose brand - and bottom line - has been hit hard by public outrage over his role in slashing US government jobs. At a choreographed publicity stunt that turned the White House into a pop-up Tesla showroom, Trump praised the EV as a 'great product' and lashed out on social media at 'Radical Left' attacks against the world's richest person and his company.
ABC News
4 days ago
- Business
- ABC News
Trump-Musk feud escalates
Nick Grimm: The rift is widening between US President Donald Trump and his former close ally, tech billionaire Elon Musk, with the pair trading bitter accusations on social media. The escalating feud comes as the Trump administration attempts to get a mammoth spending bill through the Senate, which is facing fierce opposition from Democrats, some Republicans and Elon Musk himself. Gavin Coote reports. Gavin Coote: A political bromance that has devolved into an acrimonious divorce. After days of growing criticism from Elon Musk about Donald Trump's signature spending bill, the US president is now hitting back. Donald Trump: I'm very disappointed because Elon knew the inner workings of this bill better than almost anybody sitting here, better than you people. He knew everything about it. He had no problem with it. All of a sudden he had a problem and he only developed the problem when he found out that we're going to have to cut the EV mandate because that's billions and billions of dollars. Gavin Coote: The CEO of electric vehicle company Tesla was until recently President Trump's most powerful ally. But the relationship fractured when Elon Musk began attacking the Trump administration's efforts to get a spending bill through Congress that would cut taxes and ramp up spending for border security. The men are now trading insults and accusations with Mr. Musk claiming on social media without evidence that Donald Trump is in the Epstein files. That's in reference to a large tranche of material relating to the late financier Jeffrey Epstein, the convicted sex offender who was accused of abusing underage girls before taking his own life in prison. For many observers, the fallout wasn't a matter of if, but when. Prof Todd Belt: This was inevitable, but seeing it blow up like this so quickly is actually surprising. Gavin Coote: Professor Todd Belt is a political analyst with George Washington University. While Mr. Musk only recently left his post as a top advisor in the Trump administration, Professor Belt suspects tensions between the pair have been building for some time. Prof Todd Belt: There's a very famous photo from behind a door of Trump pointing at Musk, and we never really got the story behind that. I suspect we might now. Elon Musk was walking the halls of power. He was in the Oval Office and now he says he's sleeping in his server farms and conference rooms. So politically, he's really gone from the pinnacle to the pit. And you have to think that this is because he's really concerned about his businesses. He's said as much. The stock prices are down. The sales are down. Gavin Coote: Tesla's share price plunged by 14 percent on Thursday. While the feud continues to play out on social media, it's unclear where it could go next. Donald Trump has already threatened to cancel billions of dollars in government contracts involving Mr. Musk's companies. Bruce Wolpe is a senior fellow at the U.S. Study Center and a former Democratic staffer. Bruce Wolpe: It's getting ugly. And the question is, how ugly can it really get? I mean, Musk says that Trump would have lost the election without him. Musk has supported a tweet calling for Trump's impeachment and J.D. Vance become president. Musk has said, I'm dropping the bomb and Trump is in the Epstein tapes. These are the notorious records of Jeffrey Epstein. He's also, Musk is also disconnecting, decommissioning a rocket that's essential to resupplying the International Space Station. And so can it go any worse? Gavin Coote: The spending bill that sparked Mr. Musk's fury is yet to pass the Senate. And while he's vowed to continue mobilising opposition to it, Bruce Wolpe suspects it will have limited impact. Bruce Wolpe: When Musk first said this bill does not control the deficit, that is something that a lot of Republicans on the Hill wanted to get some information on and want to support. But when it gets this personal, I think the Republicans on the Hill, they're choosing between Trump and Musk. There's no choice here. And the Republicans are with Trump and everything rides on Trump's being able to pass this big, beautiful mega bill. If he can pass that, then his legacy, at least for the first term, will be sealed. Gavin Coote: So where does that leave Elon Musk? Do you think he will end up becoming this sort of angry voice out in the wilderness? Bruce Wolpe: Musk said that Trump has three and a half years left. He says, I'm going to be around for 40 years and he has all the money in the world. And so wherever he applies his brain and his money and his power, he can make a difference. So we will see as to where it goes. But this will go on for a while. And that does not do anything to improve the political culture in the United States. It's ugly. It's going to get worse. Nick Grimm: Bruce Wolpe there from the US Studies Center, ending Gavin Coote's report.
Washington Post
4 days ago
- Business
- Washington Post
A timeline of Musk and Trump's devolving relationship
Politics A timeline of Musk and Trump's devolving relationship By Rachel Lerman June 5, 2025 at 8:35 p.m. EDT 6 minutes ago 2 min New! Catch up quickly with key takeaways Close alert banner In the last two days, the once powerful relationship between President Donald Trump and billionaire Elon Musk has unraveled as they took jabs at each other from their respective social media sites, X and Truth Social. Musk left his official role in the administration late last month. See how the digital confrontation devolved from complaints over the president's tax bill to Musk alleging Trump was 'in the Epstein files.' Tuesday, 1:31 p.m. Musk attacks Trump's Big Beautiful Bill I'm sorry, but I just can't stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it. — Elon Musk (@elonmusk) June 3, 2025 Wednesday, 1:57 p.m. Musk calls for a new spending bill A new spending bill should be drafted that doesn't massively grow the deficit and increase the debt ceiling by 5 TRILLION DOLLARS — Elon Musk (@elonmusk) June 4, 2025 Wednesday, 2:50 p.m. Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL — Elon Musk (@elonmusk) June 4, 2025 Thursday, 11:20 p.m. Musk starts pointing to old Trump tweets Thursday, noon Trump addresses the feud in the Oval Office 'Elon and I had a great relationship. I don't know if we will anymore.' — Donald Trump Trump also said that Musk was upset about cuts to EV subsidies and the president's decision to pull the nomination of Jared Isaacman, a Musk ally, to run NASA. Thursday 12:10 p.m. Musk calls for a rebrand Thursday 12:20 p.m. Musk says cuts to EV incentives can stay Thursday, 12:25 p.m. 'Elon knew the inner workings of this bill, better than almost anybody sitting here.' — Trump to reporters in the Oval Office Musk shot back with a denial. Thursday, 12:44 p.m. Musk continues quoting old Trump posts Thursday, 1:44 p.m. Musk once again renames the bill Thursday, 1:49 p.m. Thursday, 1:57 p.m. Musk asks his followers if there should be a new political party Thursday, 2:37 p.m. Trump threatens Musk's companies In multiple posts on Truth Social, Trump sends a warning to Musk, saying he will take away subsidies and government contracts from his companies. 'Elon was 'wearing thin,' I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!' — Donald Trump 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it!' — Donald Trump Thursday, 2:45 p.m. Musk points to Trump's former comments on Isaacman Thursday 3:10 p.m. Musk alleges Trump appears in the Epstein files Files linked to the investigation of convicted sex offender Jeffrey Epstein have emerged as a point of fixation for Trump and his allies and right-wing media figures. Thursday, 4:06 p.m. Trump defends the bill He responded to Musk on Truth Social. 'I don't mind Elon turning against me, but he should have done so months ago. This is one of the Greatest Bills ever presented to Congress. It's a Record Cut in Expenses, $1.6 Trillion Dollars, and the Biggest Tax Cut ever given. If this Bill doesn't pass, there will be a 68% Tax Increase, and things far worse than that. I didn't create this mess, I'm just here to FIX IT. This puts our Country on a Path of Greatness. MAKE AMERICA GREAT AGAIN!' — Donald Trump Thursday, 4:09 p.m. Musk says he will decommission the spacecraft that travels to the International Space Station. Thursday, 4:11 p.m. Musk appears to endorse Trump's impeachment and attacks the president's tariffs Thursday, 4:26 p.m. Additional reporting by Clara Ence Morse and Cat Zakrzewski.
Arab News
5 days ago
- Business
- Arab News
Trump and Musk in stunning public divorce
WASHINGTON: Donald Trump and Elon Musk's unlikely bromance imploded in spectacular fashion Thursday as the US president and his billionaire former aide tore into each other in a very public, real-time divorce. Trump said in a televised Oval Office diatribe that he was 'very disappointed' with criticisms from his top donor of a 'big, beautiful' spending bill before Congress, before threatening to tear up the tycoon's multi-billion-dollar US government contracts. The South African-born Musk hit back live, saying that the Republican would not have won the 2024 election without him and slamming Trump on his X social media platform for 'ingratitude.' As the spat got increasingly bitter, Musk also posted that Trump 'is in the Epstein files,' referring to US government documents on disgraced financier Jeffrey Epstein, who committed suicide in jail while awaiting trial for sex crimes. Shares in Musk's Tesla electric vehicle manufacturer plummeted about 15 percent as the astonishing row escalated — wiping off more than $100 billion of the company's value. Questions had long swirled about how long the extraordinary alliance could last between the world's richest person and the most powerful. The world got the answer from Trump in a 10-minute rant after he was asked about Musk calling his tax and spending mega-bill a 'disgusting abomination.' 'I'm very disappointed in Elon. I've helped Elon a lot,' Trump told reporters in the Oval Office, as visiting German Chancellor Friedrich Merz looked on. 'Look, Elon and I had a great relationship. I don't know if we will anymore.' His comments came less than a week since Trump held a grand Oval Office farewell for Musk as he wrapped up his time leading the cost-cutting Department of Government Efficiency (DOGE). A wistful-sounding Trump took reporters through the break-up with Musk on live television Thursday, in what at times sounded more like a therapy session than a meeting with a foreign leader. The Republican suggested that Musk had 'Trump derangement system,' missed working at the White House and had become 'hostile' after his departure. Tesla and Space X boss Musk, who has criticized Trump's bill on the grounds that it would raise the US deficit, hit back in a series of rapid-fire social media posts. He branded Trump's claims 'false' before doubling down on the sensitive issue of Trump's election win. Musk was the biggest donor to Trump's 2024 campaign, to the tune of $300 million. 'Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate,' said Musk. 'Such ingratitude.' Musk then posted a poll on whether he should form a new political party — a possible threat to Republican support, even if the foreign-born tycoon himself is barred from becoming president under the US Constitution. As the row moved to social media, Trump doubled down by threatening Musk's massive government contracts, including for launching rockets and for the use of the Starlink satellite service. US media have put the value of the contracts at $18 billion. 'Elon was 'wearing thin,' I asked him to leave,' Trump said on his Truth Social platform, adding that Musk had gone 'crazy' about a plan to end electric vehicle subsidies in the spending bill. He then dropped the bombshell: 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts.' Trump's decision to tap Musk to head DOGE was one of the most controversial of his second presidency. Musk's young 'tech bros' cut tens of thousands of government jobs and slashed US foreign aid. Trump and Musk's whirlwind relationship initially blossomed, with the tech tycoon appearing in the Oval Office with his young son on his shoulders, flying with Trump aboard Air Force One and staying at the White House and Trump's Mar-a-Lago resort. But the 53-year-old lasted just four months on the job, becoming increasingly disillusioned with Washington's slow pace, while clashing with some of Trump's cabinet members. The only winner from the public Trump-Musk spat? Germany's Merz. Merz, who sat mutely while Trump bashed Musk, had prepared to avoid a repeat of the ambushes that Trump unleashed on the Ukrainian and South African presidents in the Oval Office. But in the end it was Musk who took the president's fire.
