Musk torches Trump budget bill: ‘Disgusting abomination’

Musk torches Trump budget bill: ‘Disgusting abomination’


Elon Musk speaks during a press event with U.S. President Donald Trump (not pictured), at the White House in Washington, D.C., U.S., May 30, 2025.

Nathan Howard | Reuters

Elon Musk on Tuesday tore into the massive tax-and-spending-cut bill backed by President Donald Trump, calling it a “disgusting abomination” that will explode federal budget deficits.

“I’m sorry, but I just can’t stand it anymore,” Musk wrote in a post on his social media site X.

“This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination,” added the Tesla and SpaceX CEO.

“Shame on those who voted for it: you know you did wrong. You know it.”

Musk led the Trump administration’s DOGE effort to cut government spending and waste until last week, when his term as a temporary “special government employee” expired.

Musk added in a follow-up post that the bill “will massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden America citizens with crushingly unsustainable debt.”

The White House quickly shrugged off the criticism from Musk, a vocal Trump supporter who spent over $250 million backing Trump’s 2024 presidential campaign.

“Look, the president already knows where Elon Musk stood on this bill,” press secretary Karoline Leavitt said when asked about the post.

“It doesn’t change the President’s opinion. This is one big, beautiful bill, and he’s sticking to it,” she said.

Rep. Thomas Massie of Kentucky, a fiscal hawk and one of only two Republicans to vote against the House version of Trump’s bill, wrote, “He’s right,” in response to Musk’s post.

Musk replied to Massie: “Simple math.”

Earlier Tuesday, Trump lashed out at Sen. Rand Paul after the Kentucky Republican criticized the bill’s provision to raise the debt ceiling by trillions of dollars.

Trump accused Paul of failing to understand that the bill would spur “tremendous GROWTH.”

This is breaking news. Please refresh for updates.



Source

Qualcomm beats on earnings, highlights growth in Meta smartglasses
World

Qualcomm beats on earnings, highlights growth in Meta smartglasses

Cristiano Amon, CEO & President, Qualcomm, on Centre Stage during day one of Web Summit 2024 at the MEO Arena in Lisbon, Portugal. Shauna Clinton | Sportsfile | Getty Images Qualcomm reported fiscal third-quarter earnings on Wednesday that beat Wall Street expectations and provided a stronger-than-expected guide for the current quarter. Qualcomm shares slid in […]

Read More
JPMorgan to enable crypto purchases via credit cards in Coinbase tie-up
World

JPMorgan to enable crypto purchases via credit cards in Coinbase tie-up

Exterior view of JPMorgan Chase & Co. branch on January 14, 2025 in New York City, New York. Kena Betancur | View Press | Corbis News | Getty Images U.S. banking giant JPMorgan partnered with Coinbase on Wednesday to allow customers to fund their wallets using its Chase credit cards and buy cryptocurrency on the exchange starting in […]

Read More
These stocks have dividends that beat the market — and the companies aren’t stretching to pay out, says Bank of America
World

These stocks have dividends that beat the market — and the companies aren’t stretching to pay out, says Bank of America

Income-focused investors can find attractive dividends in the market right now, but should dig beneath the surface before buying, according to Bank of America. High dividend yields can sometimes mask issues inside companies. Those payout can also be in danger of being cut if corporations run into trouble. For example, Whirlpool currently yields over 8%, […]

Read More