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

Follow the action as Berkshire’s shareholder meeting marks a new era without Buffett at the helm: Live updates
World

Follow the action as Berkshire’s shareholder meeting marks a new era without Buffett at the helm: Live updates

To watch the meeting in the Mandarin translation, click here. CNBC will be livestreaming the Berkshire Hathaway annual shareholder meeting on Saturday, beginning with a pre-show at 9:15 a.m. ET. Warren Buffett has loomed large at the company’s annual gatherings, and this will be a key challenge as new CEO Greg Abel takes center stage […]

Read More
Long-duration equities and renewable energy — four investment strategies from the studio
World

Long-duration equities and renewable energy — four investment strategies from the studio

Key Points Joachim Klement, Head of Strategy at Panmure Liberum believes there are opportunities in long-duration equities such as utilities and real estate. Klement also says higher energy and chip prices will eventually catch up with hyperscalers. Chris Iggo, CIO for Core Investments at BNP Paribas Asset Management sees Japanese equities as being attractive. Iggo […]

Read More
Germany urges stronger European defense after U.S. reduces troops
World

Germany urges stronger European defense after U.S. reduces troops

Soldiers from the US Army in a simulated village during the Combined Resolve “Greywolves” exercise at the US military Hohenfels Training Area in Hohenfels, Germany, on Thursday, April 30, 2026. Photographer: Alex Kraus/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images A planned drawdown of U.S. troops from Germany should spur Europeans to strengthen […]

Read More