Elon Musk has given a big warning about the financial future of the U.S.. While discussing in a podcast, Musk shared his concerns about the U.S. national debt. Currently, the U.S. national debt has reached $36.17 trillion. Musk says that if some steps are not taken soon, the value of the dollar will be “nothing” and the country could go into a financial crisis.

He highlighted another serious thing: interest payments are now consuming 23% of the government revenue, and this figure is increasing. Musk says, he expressed concern that “if action is not taken now, the entire government budget will be spent only on interest payments.” This means that there will be no money left for important programs like Social Security, Medicare.

The numbers for fiscal year 2024 also show this tension. The government spent $1.1265 trillion only on interest payments, while the total revenue was $4.92 trillion. Along with the increase in interest costs, Musk said that this warning is a wake-up call for both policy makers and citizens. Now the question is whether America will be able to take action in time to prevent this financial crisis?