Elon Musk's Alarming Prediction and Trump's Bitcoin Strategy Amid US Financial Crisis
by aria-crypto.com
November 23, 2024 at 10:48
Elon Musk's Alarming Prediction and Trump's Bitcoin Strategy Amid US Financial Crisis
In a concerning post, Elon Musk predicted that the United States is "headed for bankruptcy super fast," citing unsustainable fiscal policies. The D.O.G.E report revealed a steep federal deficit for FY2023, with $6.16 trillion spent and only $4.47 trillion in revenue, emphasizing the severity of the fiscal imbalance which has persisted since a budget surplus last seen in 2001. In response, Wall Street Apes proposed legislation to deny Congressional re-election if deficits exceed 3% of GDP, a move supported by Warren Buffett as a way to enforce fiscal discipline among lawmakers. Meanwhile, Donald Trump suggested establishing a "strategic national Bitcoin reserve" to address the $35 trillion national debt, despite skepticism about its viability given current Bitcoin values and economic risk factors. As the U.S. teeters on the brink of a financial crisis, radical solutions and leadership will be crucial to navigate the challenges ahead.
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