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  • 6/4/2025
Elon Musk slammed President Trump’s sweeping tax-and-spending-cut bill as a “disgusting abomination,” according to CNBC. The billionaire warned it would balloon the federal deficit to $2.5 trillion. In a post on X, Musk, who recently ended a stint as a special government advisor under Trump, criticized the bill’s “pork-filled” contents and said lawmakers “know you did wrong.” The White House dismissed Musk’s comments, maintaining the bill is fiscally sound despite a projected deficit increase of $3.8 trillion over the next decade, per the CBO. Some Republicans echoed Musk’s concerns about runaway spending and inflation. Musk previously said Trump’s legislative package “undermines” DOGE and has criticized Trump’s tariffs and several top officials. Trump attacked Sen. Rand Paul for opposing the bill’s debt ceiling increase, claiming it would drive “tremendous growth.”

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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Elon Musk slammed President Trump's sweeping tax and spending cut bill as a disgusting
00:07abomination, according to CNBC. Billionaire warned it would balloon the federal deficit
00:11to $2.5 trillion. In a post on X, Musk, who recently ended a stint as special government
00:15advisor under Trump, criticized the bill's pork-filled contents and said lawmakers know
00:20you did wrong. The White House dismissed Musk's comments, maintaining the bill is fiscally sound
00:25despite a projected deficit increase of $3.8 trillion over the next decade for the CBO.
00:30Some Republicans echoed Musk's concerns about runaway spending and inflation. Musk previously
00:35said Trump's legislative package undermines Doge and has criticized Trump's tariffs and several
00:40top officials. Trump attacked Senator Rand Paul for opposing the bill's debt ceiling increase,
00:45claiming it would drive tremendous growth.
00:46For all things money, visit Benzinga.com slash GSTV.

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