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International Business Times UK
International Business Times UK
Business
Niloy Chakrabarti

Elon Musk Backs Warren Buffett's 5-Minute Plan to Fix US National Debt Nearing $40T

Elon Musk endorsed Warren Buffett's national debt fix in 2025. (Credit: Moonshots With Peter Diamandis/Youtube)

Elon Musk has thrown his weight behind a ruthless proposal by Warren Buffett to 'fire' Congress if they fail to balance the books, as the US national debt officially breached the $39 trillion (£30.7 trillion) mark this week.

With the debt now growing at a staggering $7.2 billion (£5.7 billion) every single day and currently stands at $38.86 trillion, or 124% of the economy, the Tesla CEO endorsed the 'Oracle of Omaha's' radical 2011 ultimatum: pass a law making every sitting member of Congress ineligible for re-election if the deficit exceeds 3% of GDP.

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