Elon Musk has criticized President Trump's budget bill, dubbed the One Big Beautiful Bill, calling it a "disgusting abomination." His main concern is that the bill, which includes extending tax cuts and funding border barriers, will significantly increase the national debt. Critics, including Musk, argue that the bill would raise the national debt cap by $4 trillion and cut vital programs like Medicaid and SNAP, potentially resulting in a $698bn reduction in Medicaid and $267bn for SNAP. This has generated bipartisan concern over fiscal responsibility.
The remarkable spending bill is being seen by many as an effort to further inflate an already huge national debt, drawing fire from critics including billionaire Elon Musk.
Musk claimed the legislation would lead to a $2.5 trillion deficit and burden citizens with unsustainable debt, indicating a potential economic crisis.
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