Elon Musk, the billionaire CEO of Tesla and SpaceX, has launched an intense critique of US President Donald Trump’s recent budget bill, which the Senate approved in a narrow 51-49 vote. Musk described the legislation as ‘utterly insane,’ warning that it would lead the United States into ‘debt slavery’ and destroy millions of jobs. This sharp criticism has reignited tensions between Musk and Trump, who had previously been close allies.
The dispute intensified after Trump unveiled his ‘big, beautiful’ tax and spending bill earlier in June, which Musk criticized as being too costly and harmful to American workers. Musk’s outburst came just hours before Senate Republicans advanced the bill in a 51-49 procedural vote, with Vice President J.D. Vance prepared to break a potential tie.
On social media, Musk took to X to condemn the legislation, stating: ‘The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!’ He further blamed the bill for favoring ‘industries of the past’ while undermining future-focused sectors like renewable energy and technology. Musk’s comments were widely interpreted as a sharp jab at fossil fuel subsidies, suggesting that the bill does not support innovation or sustainable development.
Trump retaliated by accusing Musk of having ‘sour grapes’ over lost electric vehicle subsidies, a reference to federal incentives that had previously benefited Tesla. Musk escalated the situation by insinuating that Trump had ties to the late financier and convicted pedophile Jeffrey Epstein, prompting Trump to consider cutting contracts with SpaceX. However, Musk later issued an apology, and Trump indicated that he could forgive Musk’s comments.
Musk’s criticism highlights growing concerns about the bill’s fiscal implications. The legislation includes a $5 trillion debt ceiling hike, which Musk argued would put the United States on a ‘fast lane to debt slavery.’ He also cited polling data suggesting that GOP voters oppose the bill over fiscal concerns. After leaving the Department of Government Efficiency (DOGE), Musk criticized the bill’s deficit impact, calling it a ‘disgusting abomination.’
While the public feud between Musk and Trump has drawn significant media attention, the debate over the budget bill also raises important questions about the potential economic impact of such large-scale fiscal policies. Critics argue that the bill’s provisions could lead to increased national debt and could harm key industries, including those in the tech and energy sectors. As the debate continues, the political and economic ramifications of the budget bill remain a topic of significant interest and ongoing discussion.