Why US Economy Will Collapse...Elon Musk...Something's got to give! (2022) #shorts

#shorts

Why US Economy Will Collapse...Elon Musk...Something has got to give!

Tesla CEO, Elon Musk explains why the continual overspending by the United States Government, well as Elon says (twice) "Something's Gotta Give"

A budget deficit occurs when government spending exceeds revenue. The federal government's revenue is the income it collects from taxes, fees, and investments. Currently, the United States Government brings in about 4 trillion dollars a year in taxes, while spending about 7 trillion. This equals a budget deficit of about 3 trillion dollars, but this doesn't include much more spending, including social security, interest on the deficit (currently at 30 trillion dollars and rising daily) Just imagine this debt at 1 percent interest. Doom!

When spending is less than revenue, it creates a budget surplus. This rarely happens but some politicians believe a balance budget should be the goal.

Clip used from:

'Tesla as the World’s Biggest Robot Company:' Elon Musk on AI and U.S. Innovation | WSJ

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[awake]

“If the country was a company that’d be a 3 trillion dollar loss”

It is, and we are the workers.

[scarn]

Pretty sad when a government is doing what my parents taught me not to do … this is a deliberate act …

[catch]

The deficit is directly correlated to tax cuts, but they will blame the “entitlements” you paid into your whole career.

[daddyebzy]

it's getting to the point where it seems like it's being done intentionally because there's plenty of obvious ways to circumvent this

[NicholasBall]

The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...

[kenweis]

Elon saving money...cutting his own hair now

[kidneycarecoaching]

Like watching a train go off a cliff but you’re inside of it.

[mntoaz]

What the USA could do to cut the deficit to 0 within 10 years but WON’T:

1. Cut military spending by 1/2
2. Stop fighting other peoples wars and policing the world.
3. Stop foreign aid
4. Audit federal expenditures and minimize over spending.

[sampost]

The Billionaires always cite Social Security and Medicare as major problems, when in reality most of the money is wasted on wars.

[jeramiahkardules]

32 trillion dollar deficit. No way to come back from that. We do not possess the working population to pay the tax necessary to pay back that debt. I doubt we have the working population to pay the interest owed at this point.

[goparetraitors]

We spend $2.5 trillion dollars in Iraq and Afghanistan

[justlikekingsolomon]

Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.

[aewald]

New haircut style called The Cybertruck.

[WhiteMetal_]

Yeah rich ppl pronounce billion & trillion casually and more often ☺️😂

[ianashlon]

Here in sri lanka this has happened already. Precautions have to be taken soon US

[destinypirate]

I cut my own hair too Elon! Amazing, how we are budget-frugality twins, except for that one small detail...

[NekorektniPochybovac-orbi]

This piece of beef is a clear example that money can't buy intelligence.

[xXIFLOWXx]

We are we have more enemies than ever before as well.

[stephen]

No worries Elon they'll just redefine money, debt, and deficits. It's okay, everything is fine. 🙂

[coldpotatoes]

800 military bases globally, that alot of running costs.