The latest Department of Government Efficiency (DOGE) report reveals that the US government's financial crisis worsened in FY2023, with expenditures reaching a staggering $6.16 trillion, compared to just $4.47 trillion in revenue, resulting in a growing deficit.
Report informs, citing foreign media that the last time the US ran a budget surplus was in 2001, and now there is increasing pressure to reverse this unsustainable trend. This raises the critical question: Can the US government balance its budget to prevent the risk of bankruptcy?
Elon Musk commented on these numbers in his latest X (formerly Twitter) post, writing, “America is currently headed for bankruptcy super fast." His remarks highlight growing concerns about the nation’s escalating fiscal issues and the potential consequences of continuing on this unsustainable path.