Elon Musk has vowed to unseat lawmakers who support Trump’s bill for tax cuts and increased spending just as the government is running out of money and out of investors.
Trump s tax and spending bill will add up to $5 trillion over the next decade to the U.S. federal government debt of more than $36 trillion, according to analysts.
"They just pretend to be two parties,"Musk said.
It’s just one uniparty in reality," he said, souding a lot like myself, among others.
Here is the rub. The issue of democratic legitimacy.
If MAGA voters had known that Trump, RFK Jr would break all their promises to serve the same oligarchy who gave America the forever wars, a debt crisis, inflation,, censorship, covid lockdowns and jabs, threats to send Tucker Carlson and Candace Owen to El Salvador prisons for exercising their free speech, would they have voted for them?
Trump may already go down as the person who will have destroyed what remains of the US economy.
"If this insane spending bill passes, the America Party will be formed the next day," Musk fumed.
Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE."
https://www.zerohedge.com/political/trump-vs-musk-big-beautiful-bill-feud-sparks-overnight-political-firestorm
Musk should move from rhetoric to action today because we can all see the bill will broadly be passed by the uniparty.
But is he planning for the American party?
Or is he just huffing and puffing?
Voters in 2025 want to see policies carried out by politicians who have a track record of integrity like Marjorie Taylor Greene, Thomas Massie, Rand Paul. Renationalizing the Fed to give the government room to print free money to invest in businesses, cancel debt is crucial. Putting Gates, Soros in prison for the gigantic costs of the covid lockdowns and jabs is also a financial issue.
But where is the big money behind this project?
“Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame! And they will lose their primary next year if it is the last thing I do on this Earth,” he wrote on his social media platform, X.
He said lawmakers who had campaigned on cutting spending but backed the bill “should hang their heads in shame! And they will lose their primary next year if it is the last thing I do on this Earth."
The Tesla and SpaceX CEO called again for a new political party, saying the bill’s massive spending indicated “that we live in a one-party country – the PORKY PIG PARTY!!”
It appears one of the few things slashed are subsidies for electric vehicles.
The bill comes as the last wheels of the American economy seem anyway set to come off thanks to Trump s delusion.
The dollar’s worst first-half performance in more than 50 years reflects more than just a slump in currency markets. It signals a deeper crisis of confidence in American economic management under Trump’s second presidency. With erratic trade policy, ballooning debt and rising questions over the Federal Reserve’s independence, the pillars that once made the dollar a reliable safe haven are showing visible cracks.
https://www.firstpost.com/world/trump-policies-send-dollar-crashing-to-worst-start-since-1973-tumbles-10-in-first-half-ws-e-13902033.html
The dollar fell 10% against other currencies, fuelling inflation.
If and when the dollar slides 50, 70% against other currencies, also the Chinese Yuan, the US economy will look like Gambia as imports become unaffordable.
Trump s admin is facing interest payments on its 36 trillion debt, which have to be covered.
Yet the Treasury has a budget deficit of 1.4 trillion in the first 8 months in the fiscal year 2025
https://www.cbo.gov/publication/61302#:~:text=Summary-,The%20federal%20budget%20deficit%20totaled%20%241.4%20trillion%20in%20the%20first,same%20period%20last%20fiscal%20year.
Instead of reigning in the expenditure, when there is no more money there, the spending is increasing under Trump. The spending has to be funded by increasing the debt. The new debt ceiling is 5 trillion dollars.
Tax cuts for the wealthy mean the interest on the increasing debt has to be paid for from a shrinking tax revenue.
The notion that the tax cuts in the BBB will lead to so much economic growth that they will generate enough money to fund and offset the costs of the extra debt is very hopeful given the amount of debt in the system.
An unsustainable debt is making investors nervous.
There has already been a collapse in demand for US debt among investors.
The US is heading for bankruptcy, insolventcy unless the gov buys its own debt. But this method leads to inflation, hyperinflation.
Cutting interest rates in a recessionary and inflationary environment likely will also just fuel inflation and not real world economic growth especially in the middle of a trade "blockade."
Moreover, there is a gigantic increase in the Pentagon s budget envisaged in the bill, which will be a drag on the real world economy.
It is not clear if the Pentagon has the financial management capacities to reign in the massive corruption in its ranks.
The Pentagon seems to be handing out contracts of 100s of millions and billions of dollars on the basis of scant or no evidence that any research or product of value will be supplied or at what costs, including AI companies.
This, as decades of underinvestment in crucial areas combined with massive waste of the forever wars after 9 11 have left the USA with outdated weapons and low stockpiles.
The result is a serious of losses in conflicts from the Ukraine to Iran.
The US weapons industry, a major exporter, is set to face declining orders.
All of this waste is to be paid for on the backs of cuts for the poorest, stoking social tensions.
"Increasing spending on militarism while cutting spending on programs that help low-income Americans is bad politics and bad policy. Polls show that the majority of Americans, including many Republicans, do not support overseas intervention," says Ron Pual.
"The growing opposition to our hyper-interventionist foreign policy is easy to understand. The US has engaged in numerous military actions in many countries including Iraq, Afghanistan, and Syria since the beginning of the 21st century. The American people pay for this militarism in several ways. One is the “inflation tax” imposed by the Federal Reserve in order to monetize the debt incurred by the US government for endless wars. President Trump has turned his back on his antiwar supporters by bombing Iran and by increasing military spending to over a trillion dollars.
https://ronpaulinstitute.org/a-big-beautiful-bill-for-the-military-industrial-complex/
Given this scenario, it is striking that The American Bankers Association (ABA) "welcomes and strongly supports many provisions contained in the Senate Budget Committee’s text for H.R. 1, the "One Big Beautiful Bill Act."
https://www.aba.com/advocacy/policy-analysis/Letter-to-Congress-on-Tax-Related-Provisions-June-29
Is there a parallel to the rise of Hitler when the bankers and industrialists wrote to the then President and asked for Hitler to be made Chancellor because his of plans for a war economy, conscription and a totalitarian terror state to crush free speech and dissent?
The Industrielleneingabe (English: Industrialists' petition) was a petition signed by 19 representatives of industry, finance, and agriculture on November 19, 1932 that requested for German President Paul von Hindenburg to make Adolf Hitler the German Chancellor.
There had already been two similar attempts to assist the Nazi Party in gaining control of the government: a petition by the Wirtschaftspolitische Vereinigung Frankfurt (Frankfurt Socio-economic Union) on July 27, 1931 and a declaration by 51 professors published in July 1932 in the Nazi Party newspaper Völkischer Beobachter.
The idea for the Industrielleneingabe had emerged at the end of October 1932 in the Freundeskreis der Wirtschaft (or "Keppler circle"; Keppler-Kreis) and was supported by Heinrich Himmler, who worked as a liaison to the Brown House. The drafting of the letter was aided especially by Hjalmar Schacht, who was the only member of the Keppler-Kreis with any significant political experience. The Industrielleneingabe was first published in 1956 in the Zeitschrift für Geschichtswissenschaft and has been used as evidence to suppor
https://en.wikipedia.org/wiki/Industrielleneingabe