US EditionOverlooked Treasury Report Supports Musk's Warning About Federal Deficits Sinking the U.S. - The Michigan Star
- The Treasury report reveals that the U.S. Federal government's true debt figure is $143 trillion, significantly higher than the reported $36 trillion, according to the Treasury report released on January 16.
- This $143 trillion figure equals 85% of all wealth Americans have accumulated, highlighting the severe financial burden on every household, averaging $1.1 million.
- Elon Musk commented on federal deficits, stating that "if the ship of America sinks, we all sink with it," relating this to concerns about Social Security's obligations being a major factor in the national debt.
- Experts, including Howell E. Jackson from Harvard Law School, highlight that continuous government spending primarily on social programs drives the national debt, predicting significant financial burdens for future generations.
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