Elon Musk Warns of U.S. Financial Crisis: $1.4T Deficit & $31.5T Debt Explained"

Elon Musk, head of the Department of Government Efficiency (DOGE), has warned about the US's financial crisis, citing a $1.4 trillion budget deficit, $31.5 trillion national debt, and $75.3 trillion unfunded obligations. The DOGE is a proposed presidential advisory commission. The House of Representatives rejected President-elect Donald Trump's proposed plan to fund federal operations and suspend the debt ceiling, just before a government shutdown. The rejection of Trump's plan, which aimed to extend government funding for three months and allocate $100.4 billion in disaster assistance, faced backlash from Democrats and a faction of Republicans. The path forward remains uncertain, with Republican leadership facing challenges in uniting their party while addressing critical funding needs for federal operations.