Musk urges rewrite of Trump’s proposed budget

U.S. entrepreneur Elon Musk has criticized the federal budget plan proposed by former President Donald Trump’s administration, warning that it would lead to a significant increase in the national debt.

“A new budget draft must be prepared. It should not allow for a major rise in national debt,” Musk wrote on social media platform X.

Earlier, Trump suggested on Truth Social that the debt ceiling should be completely eliminated to avoid economic turmoil. He noted that, for the first time in a long while, he found common ground with Senator Elizabeth Warren, who also advocates for lifting the debt limit.