Musk denounces Trump's "grand and gorgeous" bill as "repugnant"
Billionaire Elon Musk Roars Against Trump's "One Big Beautiful Bill"
Elon Musk, fresh off his White House stint, has ramped up his criticism of a legislation spearheaded by none other than President Donald Trump. The entrepreneur expressed his disdain in a no-holds-barred post on platform X, labeling the bill "outrageous" and "disgusting."
"I've had it up to here!" Musk thundered, alluding to the project's sky-high price tag and the possibility of exacerbating the already towering budget deficit to a staggering $2.5 trillion. He went on to lambast the bill for its perceived cruelty, burdening American citizens with an unpayable debt. "Shorter term convicts get lighter sentences than these shmucks who voted for it," he added, his frustration palpable.
According to RBC Group, Trump reportedly views Musk as a fascinating enigma, a "genius and boy" blend[4]. Musk publicly criticized the project, asserting it sabotages the efforts of the DOGE (Department of Government Efficiency), which he oversaw personally[3].
In its essence, Trump's economic bill, a realization of his election campaign promises, is colloquially named "One Big Beautiful Bill." This document seeks to prolong the tax cuts Trump introduced in 2017, scrap taxes on tips and overtime pay, hike the debt ceiling to $4 trillion, offer tax breaks on car loan interest, and more[3]. Simultaneously, it slashes spending on social protection programs such as Medicaid (a medical insurance provider for the poor and disabled) and SNAP (a program providing additional food assistance).
In May, the House of Representatives green-lit the bill, with the Senate currently deliberating over its contents.
Musk isn't the only one voicing discontent. This week, a troupe of six Nobel laureates in economics penned an open missive expressing concern over the proposed Medicaid and SNAP cuts, likening them to disastrous blows for American families[3]. "Given the scale of this bill's public debt increase, it's downright shocking that it still deals such a damaging blow to 40% of the poorest American households," the letter asserts.
Trump assured the public yesterday that the bill would not result in cuts to social security benefits.
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Insights:
- Elon Musk's criticism centers on concerns about excessive federal spending, ballooning deficits, and potential negative effects on American citizens and social programs.
- The bill's provisions include tax breaks and increased spending, as well as cuts to social protection programs such as Medicaid and SNAP.
- Musk's vocal opposition marks a significant break with Trump's stance, but the White House has remained supportive of the "One Big Beautiful Bill."
- Elon Musk, a notable business magnate, has voiced his opposition to the "One Big Beautiful Bill," President Trump's economic legislation, primarily due to its perceived potential to aggravate the budget deficit and burden American citizens with extraordinary debt.
- In a joint effort, Musk and a group of six Nobel laureates in economics have expressed concern over the proposed Medicaid and SNAP cuts in the "One Big Beautiful Bill," asserting that these reductions could pose disastrous consequences for some of the poorest American households.
