Elon Musk: US Debt Crisis Looms as Interest Rates Surge

Tesla CEO Elon Musk has sounded the alarm on the escalating national debt of the United States, reaching a staggering $37 trillion. Speaking at the All In Summit, Musk pointed out that interest payments on this debt now surpass the Department of Defense’s budget and continue to rise. He expressed his concern that if advancements in artificial intelligence and robotics fail to address the burgeoning debt issue, the situation could reach critical proportions. The surge in US debt this year can be attributed to significant spending during the pandemic and rising interest rates which might trigger a potential dollar crisis.