'America is going bankrupt' Tesla owner Elon Musk warns, find out what he said

"The overspending has to stop or America will go bankrupt," Musk insisted on Twitter. His comments came in response to a tweet in which a large chunk of tax money was earmarked to pay off the national debt. According to a media report, "63% of all personal income taxes in February were spent on paying interest on debt – no roads, no military, no schools, no social security – just paying down the debt."

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• Marcus's post included a headline that read, “Interest payments on the US national debt are eating up a whopping $1,140,000,000,000 this year – 76%.

America is going bankrupt!

The United States' fiscal position continues to deteriorate as the federal government's deficit soared to $1.27 trillion in the fiscal year ending in June, hampered by rising interest payments on the mounting national debt, which is fast approaching $35 trillion.

$76 billion had to be spent in February

Another user retweeted, "This is an amazing statistic to monitor in the coming years." He further said, “For February, the US government collected $120 billion from personal income taxes. They had to spend $76 billion in February to pay interest on the national debt. We are not far from the day when taxes will be required to pay the debt but 100% of personal income interest.”

In response to Trump's tweet, one person questioned his earlier stance, saying, "Where was this debate when Trump was implementing $2 trillion in tax cuts and overseeing record-breaking spending during his presidency?"

Another commentator expressed concern, saying, “U.S. might have reached bankruptcy; It is only a matter of time before the global community takes notice.”