Elon Musk Slams Trump’s Spending Plan as ‘Debt Slavery Bill’ Amid Soaring U.S. Debt
Tesla CEO Elon Musk publicly criticized President Donald Trump’s proposed spending package, branding it the “Debt Slavery Bill” and warning of historic consequences for the national debt.
Musk, who briefly served as head of the Department of Government Efficiency, resigned as the legislation advanced through Congress. He has since become one of the most prominent voices opposing the One Big Beautiful Bill Act, a sweeping 1,100-page proposal that passed the House on May 22 and now heads to the Senate.
“This spending bill contains the largest increase in the debt ceiling in U.S. history! It is the Debt Slavery Bill,” Musk posted on X Wednesday. “I think a bill can be big or it can be beautiful. I don’t know if it can be both.”
The bill proposes $1.2 trillion in cuts to social programs like Medicaid and SNAP, alongside permanent tax reductions and $150 billion in new spending on defense and border security. According to the Congressional Budget Office, the package could add $2.4 trillion to the federal deficit over the next decade — with some analysts projecting even larger fiscal consequences.
The warning comes as the U.S. national debt nears $37 trillion, intensifying anxiety across Wall Street, Silicon Valley, and Capitol Hill. Fiscal hawks have flagged the legislation as a long-term risk to American financial stability, particularly in the face of elevated interest rates and geopolitical uncertainty.
The White House is urging the Senate to pass the bill before the July 4th recess, framing it as essential for economic growth and national security. However, critics like Musk argue it will mortgage future generations for short-term political wins.
