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Musk: If we don't cut spending, America will go bankrupt

Elon Musk urges a $1 trillion deficit reduction at President Donald Trump's first cabinet meeting, warning of potential bankruptcy without spending cuts.

Reuters WORLD
Published February 26,2025
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The U.S. must move quickly to achieve a trillion dollar reduction from the country's deficit, Elon Musk said on Wednesday at President Donald Trump's first cabinet meeting. Musk warned that the country would go bankrupt without spending cuts.

Billionaire Elon Musk called on the US government to "move quickly" to reduce the federal budget deficit as he spoke at President Donald Trump's first cabinet meeting since regaining the White House.

The US president said cabinet members were delighted with Musk's contributions, whose mission to reform the federal government is shaking up Washington.