Americast Elon Musk trashes Donald Trump's big tax bill
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Jun 4, 2025 Tensions rise as Elon Musk criticizes Donald Trump's controversial tax bill, calling it a "disgusting abomination." The bill may add trillions to the national deficit, sparking fierce debates. The hosts dive into the implications of Musk's critique on Republican dynamics and the potential spiraling U.S. debt. They also explore how political instability could reshape global relations and perceptions of American reliability. Finally, they examine Trump’s leadership style, likening it to that of a corporate CEO and its impact on American politics.
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Musk Critiques Trump Spending Bill
- Elon Musk harshly criticized Trump's spending bill as a "disgusting abomination" that will massively increase the deficit.
- Most economists agree this bill adds unsustainable debt, contrary to minority views hopeful of increased revenue.
Reality of Supply-side Economics
- Supply-side economics claims tax cuts pay for themselves, but history shows deficits soar after such cuts.
- US is now facing record federal debt levels impacting its finances significantly.
US Debt Servicing Costs Rising
- The US federal debt is massive and the cost to service it now exceeds defense spending.
- Rising interest rates driven by investor nervousness increase borrowing costs and threaten debt sustainability.