O’Leary & Musk: $2.4T Spending Bill Clash
- A feud between President Donald Trump and Elon Musk has intensified after Musk publicly denounced a Trump-supported spending bill.
- Kevin O'leary, chairman of O'Leary Ventures, offered insight into Musk's strong stance.
- O'Leary, speaking on "The Evening Edit," said Johnson's chart illustrated that deficits remained under $1 trillion during Trump's first term.
Elon Musk unleashes a scathing critique of a Trump-backed spending bill, sparking a fierce debate regarding soaring deficits and fiscal obligation.This article delves into Musk’s strong opposition,fueled by concerns over the bill’s detrimental impact on the national debt,projected to increase by $2.4 trillion. Financial expert Kevin O’Leary offers context, suggesting Sen.ron Johnson’s data on rising deficits triggered Musk’s reaction. explore the crux of the “O’Leary & Musk: $2.4T Spending Bill Clash” and the implications for the future. News Directory 3 provides ongoing coverage of this developing story. Discover what’s next …
Elon Musk Slams Trump’s Spending Bill Over Deficit Concerns
Updated June 08, 2025
A feud between President Donald Trump and Elon Musk has intensified after Musk publicly denounced a Trump-supported spending bill. Musk has repeatedly criticized the bill on X, labeling it as bloated and a danger to the nation’s finances.The controversy highlights growing concerns about the national debt and government spending.
Kevin O’leary, chairman of O’Leary Ventures, offered insight into Musk’s strong stance. O’Leary believes a chart shared by Sen. Ron Johnson, R-Wis., showing the rise in deficits, spurred Musk’s opposition. The debate centers on the impact of the bill on the national debt and the role of government spending.
O’Leary, speaking on “The Evening Edit,” said Johnson’s chart illustrated that deficits remained under $1 trillion during Trump’s first term. He added that post-pandemic budgets have consistently shown deficits exceeding $2 trillion. This data, O’Leary suggested, prompted Musk to question the necessity of such high spending.
“Ron Johnson put out a graph a couple of days ago… Simply says, look, even during Trump’s first term, deficits were under a trillion dollars… then we have this pandemic, and every management and every budget post the pandemic have $2 trillion-plus deficits,” O’Leary said.
Musk’s criticism of the spending bill, which has already passed the House, focuses on its cost and its impact on the national debt. The spending bill includes $3 trillion in tax cuts but is projected to add $2.4 trillion to the deficit. The national debt currently exceeds $36 trillion.
Musk expressed his frustration on X, calling the bill a “disgusting abomination” filled with pork. He criticized lawmakers who voted in favor, accusing them of knowingly doing wrong. The clash underscores the ongoing debate about fiscal duty and the management of the national debt.
“I’m sorry, but I just can’t stand it anymore,” Musk wrote on X. “This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it.”
O’Leary also highlighted concerns about a provision that would empower the IRS to audit businesses for nine years regarding Employee Retention Credit (ERC) tax credits. He noted that this proposal has faced opposition from senators and business leaders,suggesting it will likely be revised.
What’s next
The Senate is expected to vote on the controversial spending bill amid ongoing debate over its fiscal impact and potential revisions to certain provisions, including those related to IRS audits.