Elon Musk, the CEO of Tesla Inc., has warned that the U.S.’s ballooning national debt and looming Social Security shortfall could push the country toward bankruptcy. During his latest appearance on The Joe Rogan Experience, Musk stated that his decision to step away from the Department of Government Efficiency initiative stemmed from realizing how deeply flawed the U.S. financial system has become.
Musk Says US Debt Payments Now Exceed Military Spending
Musk told Joe Rogan that the national debt is growing faster than the country’s ability to pay it down. He noted that the government’s interest payments on national debt now exceed the entire U.S. military budget, calling it one of his biggest “wake-up calls”. Musk believes that even aggressive cuts to waste and fraud would only delay what he called “the day of reckoning”.
Musk argued that the only way to prevent America from going bankrupt is through the use of AI and robotics. He stated, “Unless you go full Genghis Khan, which you can’t really do, I came to the conclusion that the only way to get us out of the debt crisis and to prevent America from going bankrupt is AI and robotics.” Musk emphasized that without AI and robotics, the country is headed for bankruptcy.
Social Security Could Run Short By 2032 — And The Only Lifeline Is?
Musk pointed to the Social Security Administration’s own projections, which estimate that the program will be unable to pay full benefits by 2032 due to an aging population and declining worker-to-recipient ratios. He warned that Social Security will likely have to reduce benefit payments within the next seven years as the program runs short on funds.
When asked how to fix this issue, Musk said, “You’ve got to basically massively increase the economic output … and the only way to do that is AI and robotics.” He argued that technology-driven productivity could expand GDP fast enough to offset ballooning debt, while efficiency reforms alone could only buy time.
US Debt Tops $38 Trillion, Rising Faster Than Ever Outside The Pandemic
America’s national debt soared to a record $38 trillion earlier this month. The debt climbed from $36 trillion in November 2024 to $37 trillion by August 2025 and in just two more months, it has surged past $38 trillion. This represents the fastest trillion-dollar increase outside the COVID-19 pandemic, putting the U.S. well ahead of the Congressional Budget Office’s pre-2030 projections.
Some key points to consider:
- The US national debt is growing at an alarming rate
- Social Security is projected to run out of funds by 2032
- Musk believes that AI and robotics are the only way to prevent bankruptcy
- The government’s interest payments on national debt exceed the entire US military budget
Overall, Elon Musk’s warning about the looming Social Security insolvency and the country’s growing national debt is a pressing concern that requires immediate attention. The use of AI and robotics may be the only way to prevent bankruptcy and ensure the long-term sustainability of the US economy.