‘Bankrupting America not ok’: Elon Musk targets Donald Trump’s flagship spending bill

Billionaire Elon Musk ramped up his attack against US President Donald Trump’s flagship tax cut and spending bill, urging lawmakers to ‘kill the bill’. He claimed it would condemn America to ‘debt slavery’. This comes days after the Tesla and SpaceX CEO ended his tenure overseeing the Department of Government Efficiency (DOGE) cost-cutting initiative.“Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL,” Musk wrote in a series of posts on his social media platform X.

Call your Senator,

Call your Congressman,

Bankrupting America is NOT ok!KILL the BILL

— Elon Musk (@elonmusk) June 4, 2025

In reply to a user, Musk stated that the legislation “more than defeats all the cost savings achieved” through the DOGE initiative at “great personal cost and risk”.

It more than defeats all the cost savings achieved by the @DOGE team at great personal cost and risk

— Elon Musk (@elonmusk) June 4, 2025

Musk, in another post, said it contains the “largest increase in the debt ceiling in US history!” He even termed it as the “Debt Slavery Bill.”

This spending bill contains the largest increase in the debt ceiling in US history!

It is the Debt Slavery Bill. https://t.co/7EEyUEha1q

— Elon Musk (@elonmusk) June 4, 2025

He even suggested that a new spending bill should be drafted, which will not “massively grow the deficit and increase the debt ceiling by 5 TRILLION DOLLARS”.

A new spending bill should be drafted that doesn’t massively grow the deficit and increase the debt ceiling by 5 TRILLION DOLLARS

— Elon Musk (@elonmusk) June 4, 2025

On Wednesday, the nonpartisan Congressional Budget Office estimated that Trump’s self-described ‘big, beautiful bill’ will go on to add nearly $2.4 trillion to the $36.2 trillion US debt pile, Reuters reported.

The Committee for a Responsible Federal Budget also said that its cost might increase to $3 trillion over a decade after taking interest payments into account. It can even go up to $5 trillion if temporary tax cuts were made permanent.

The bill is pending in the Senate after it narrowly managed to pass the House recently.

It aims to extend President Trump’s 2017 tax cuts, while also increasing spending for the military and border security.

Musk joined the Trump administration with the promise of cutting $2 trillion in federal spending. He stepped down last week after only managing to accomplish a small fraction of that amount.

As per the CBO forecast, the House-passed 1,100-page bill is expected to reduce the US government’s revenues by $3.67 trillion in a decade’s time and reduce spending by $1.25 trillion.