Billionaire Elon Musk launched a renewed attack on US President Donald Trump’s budget bill on Saturday, calling it “utterly insane” and warning that it would hurl America into “debt slavery” and destroy millions of jobs. The dispute between the two men who were once close allies turned ugly earlier in June over Trump’s “big, beautiful” tax and spending bill.
The Tesla and SpaceX CEO’s outburst came hours before Senate Republicans narrowly advanced the bill in a 51-49 procedural vote, with Vice President J.D. Vance on standby to break a potential tie.
Musk took to X to condemn the legislation, writing, “The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!”
The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!Utterly insane and destructive. It gives handouts to industries of the past while severely damaging industries of the future. https://t.co/TZ9w1g7zHF
— Elon Musk (@elonmusk) June 28, 2025
In a series of posts, he accused the bill of favoring “industries of the past” – likely a jab at fossil fuel subsidies – while undermining future-focused sectors like renewable energy and tech.
Musk claimed that the bill’s $5 trillion debt ceiling hike would put the US in the “fast lane to debt slavery,” citing polling data that suggests GOP voters oppose the bill over fiscal concerns.
After leaving the Department of Government Efficiency (DOGE), Musk criticized the bill’s deficit impact, calling it a “disgusting abomination.”
Trump retaliated by accusing Musk of having sour grapes over lost electric vehicle subsidies – a reference to federal incentives that had benefited Tesla. Musk escalated by insinuating that Trump had ties to late financier and convicted pedophile Jeffrey Epstein, while Trump considered cutting SpaceX contracts. Later, Musk apologized, and Trump suggested that he could forgive him.
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