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'America would be toast': Elon Musk warns of bankruptcy and rising interest rates due to $36 trillion debt

IndiaTimes Sunday, 5 January 2025 ()
Elon Musk warns that the US is on the brink of financial collapse due to its $36.14 trillion debt, with interest payments consuming 23% of federal revenue. He suggests a 30% cut in federal spending, though experts call this nearly impossible without severe impacts. Treasury Secretary Janet Yellen urges prompt action.
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