Trump’s “BBB” Sparks National Debt Concerns as Elon Musk Sounds the Alarm

President Donald Trump’s signature legislative package, dubbed the “One Big Beautiful Bill,” has ignited a firestorm of debate as it moves through the Senate, with critics warning of its potential to balloon the U.S. national debt. The bill, which narrowly passed the House on May 22 with a 215–214 vote, promises sweeping tax cuts, increased spending on defense and border security, and reductions in programs like Medicaid and SNAP. However, its projected cost has raised red flags among fiscal conservatives, economists, and even former Trump ally Elon Musk, who this week called it a “disgusting abomination” that could plunge the nation into “debt slavery.”

The nonpartisan Congressional Budget Office (CBO) estimates the bill will add $2.4 trillion to the national debt over the next decade, while other analyses, such as those from the Committee for a Responsible Federal Budget and the Penn Wharton Budget Model, project increases as high as $3.8 trillion to $5 trillion when factoring in interest and permanent tax cuts. With the U.S. debt already standing at $36.2 trillion as of January 2025, these figures have intensified scrutiny of the bill’s fiscal impact.

Elon Musk, who recently stepped down from his role as head of the Department of Government Efficiency (DOGE), has emerged as a vocal critic. On June 3, Musk took to X, the social media platform he owns, to lambast the bill, writing, “This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong.” He warned that the bill could increase the federal deficit by $2.5 trillion, undermining the cost-cutting efforts of DOGE, which he claimed saved $180 billion during his tenure—though these savings remain contested by critics and fact-checkers.

Musk’s remarks echo concerns from Republican deficit hawks like Senators Rand Paul and Ron Johnson, who argue the bill lacks sufficient spending cuts to offset its massive tax breaks and new expenditures.

Paul, who has called the bill’s spending reductions “wimpy and anemic,” warned on CBS’s Face the Nation that at least four GOP senators could block the bill unless it addresses the deficit more aggressively. “The GOP will own the debt once they vote for this,” Paul said, aligning himself with Musk’s stance.

The bill’s provisions include extending Trump’s 2017 tax cuts, eliminating taxes on tips and overtime, and raising the federal debt ceiling by $4 trillion—a move House Speaker Mike Johnson defends as critical to avoiding a default. However, cuts to social safety nets, including $698 billion from Medicaid and $267 billion from SNAP, have sparked bipartisan criticism for potentially harming vulnerable Americans. Economists like Kent Smetters of the Penn Wharton Budget Model have dismissed the White House’s claims of robust economic growth offsetting the deficit, calling such projections “a work of fiction.”

Despite the backlash, Trump remains steadfast. At a May 28 White House event, he acknowledged concerns but insisted the bill is a “WINNER” that will deliver “the lowest tax rate we’ve ever had.” The White House has disputed CBO estimates, with Press Secretary Karoline Leavitt arguing that critics rely on “shoddy assumptions” and fail to account for growth spurred by tax cuts. Trump has also leaned on tariff revenues to justify the bill, though recent court rulings have questioned the legality of his proposed import taxes.

Musk’s outspoken criticism marks a significant rift with Trump, whom he supported with over $250 million during the 2024 campaign. His departure from DOGE on May 29 and subsequent attacks on the bill suggest a growing divide, with Musk vowing on X to “fire all politicians who betrayed the American people” in the 2026 midterms. Some GOP lawmakers, like Senator Kevin Cramer, have downplayed Musk’s influence, noting, “We’re serious policymakers. We have to govern, and so we have to deal with reality.”

As the Senate debates amendments to the bill, with a target passage date of July 4, the clash between fiscal restraint and Trump’s ambitious agenda underscores a broader Republican struggle. Will the “Big Beautiful Bill” deliver the economic “jet fuel” its supporters claim, or will it, as Musk warns, saddle future generations with unsustainable debt? With financial markets skeptical and investors demanding higher premiums for U.S. debt, the outcome of this legislative battle could shape the nation’s fiscal future for years to come.

Sources: Congressional Budget Office, Committee for a Responsible Federal Budget, Reuters, The Washington Post, Al Jazeera, X posts