{"id":5972,"date":"2026-05-10T13:52:41","date_gmt":"2026-05-10T13:52:41","guid":{"rendered":"https:\/\/stock999.top\/?p=5972"},"modified":"2026-05-10T13:52:41","modified_gmt":"2026-05-10T13:52:41","slug":"this-is-the-way-elon-musk-endorses-warren-buffetts-famed-5-minute-plan-to-fix-the-national-debt","status":"publish","type":"post","link":"https:\/\/stock999.top\/?p=5972","title":{"rendered":"\u2018This is the way\u2019: Elon Musk endorses Warren Buffett\u2019s famed 5-minute plan to fix the national debt"},"content":{"rendered":"

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The national debt is set to reach $40 trillion in the near future if it continues to grow at its current pace. That has caught the attention of the richest man in the world.\u00a0<\/p>\n

Elon Musk has joined the likes of Bridgewater founder Ray Dalio and Treasury Secretary Scott Bessent in supporting a solution to lowering the national debt, made famous by former Berkshire Hathaway CEO Warren Buffett.\u00a0<\/p>\n

\u201cI can end the deficit in five minutes,\u201d Buffet said in a 2011 interview with CNBC. \u201cYou just pass a law that says that anytime there\u2019s a deficit of more than 3% of the GDP, all sitting members of Congress are ineligible for reelection. Now, you\u2019ve got the incentives in the right place.\u201d<\/p>\n

The plan received Musk\u2019s full endorsement. \u201cThis is the way,\u201d he wrote in June, sharing the interview in a post on X.\u00a0\u00a0<\/p>\n

Last year, the national debt ballooned by $2.6 trillion, and currently stands at $38.9 trillion, or 124% of the economy, according to the U.S. Treasury. Recently, the country\u2019s public liabilities, the portion of the national debt the federal government owes people outside the government, exceeded the size of the economy\u00a0for the first time since World War II. Then, there\u2019s interest on top of that, which costs more than $22 billion a week, according to Congressional Budget Office (CBO). <\/p>\n

Buffett is far from the only one sounding the alarm on the national debt.\u00a0<\/p>\n

Recently, the nonpartisan think tank Committee for a Responsible Federal Budget (CRFB) warned the average interest rate on the national debt could exceed economic growth by fiscal year 2031.\u00a0<\/p>\n

\u201cOnce interest rates exceed the growth rate\u2026primary deficits will lead debt to grow indefinitely,\u201d the CRFB warned in a blog post on March 9.\u200b The committee also endorses the 3% of GDP target.\u00a0<\/p>\n

While members of Congress haven\u2019t warmed to the idea of being replaced over the national debt, a bipartisan group of representatives in January introduced a resolution to lower the deficit to 3% of GDP.\u00a0\u00a0<\/p>\n

What capping the deficit would actually do<\/p>\n

In 2024, under the Biden administration, Buffett predicted higher taxes were coming for businesses.\u00a0<\/p>\n

\u201cThey may decide that someday they don\u2019t want the fiscal deficit to be this large, because that has some important consequences. And they may not want to decrease spending a lot, and they may decide they\u2019ll take a larger percentage of what we earn, and we\u2019ll pay it,\u201d he said at Berkshire Hathaway shareholders meeting in May 2024.\u00a0<\/p>\n

At that point, the national debt was more than $34 trillion, or 122% of GDP. Buffett has rebuffed companies that search for the smallest loopholes to reduce their tax burden. Since the first Trump administration, corporations have paid a maximum tax rate of 21%, compared to 35% previously. This tax rate was not changed the Biden administration.\u00a0<\/p>\n

\u201cMy best speculation is that U.S. debt will be acceptable for a very long time, because there is not much alternative,\u201d Buffett said.<\/p>\n

A version of this story was originally published on Fortune.com on March 17, 2026.<\/p>\n

#Elon #Musk #endorses #Warren #Buffetts #famed #5minute #plan #fix #national #debt<\/p>\n","protected":false},"excerpt":{"rendered":"

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