"Elon Musk stated, 'If you look at our national debt, which is insanely high, the interest payments exceed the Defense Department budget—and they keep rising.' He warned, 'If AI and robots don't solve our national debt, we're toast.'"
"The Committee for a Responsible Federal Budget noted that boosting the defense budget by the expected amount would increase total defense discretionary spending by $5.8 trillion from FY2027 through 2036, adding $6.9 trillion to the national debt once interest costs are factored in."
"The proposal, which Trump first floated on Truth Social in January, would represent 'by far the largest year-over-year increase in defense spending in the post-WWII era,' according to the CRFB."
The White House is set to release its FY 2027 budget request on April 3, proposing a significant defense spending increase to $1.5 trillion. The national debt has recently surpassed $39 trillion, raising alarms among various figures, including Elon Musk. Musk emphasized that interest payments on the national debt now exceed the Defense Department budget. The Committee for a Responsible Federal Budget estimates that this defense budget increase could add $6.9 trillion to the national debt by 2036, necessitating offsets in other budget areas.
Read at Fortune
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