Elon Musk Is 100% Correct, Says Balaji Srinivasan: America Is ‘Broke’ And There Is ‘No Fix’ But Is It A Win-Win For Bitcoin?
Silicon Valley investor and economic commentator Balaji Srinivasan said Tuesday the U.S. is heading towards a national bankruptcy, with no possible solution to its debt crisis.
What Happened: In an X post, Srinivasan stated that the U.S. is “broke”, with the real debt exceeding $175 trillion.
“The US is broke. The real debt is $175T+. And Elon Musk is 100% correct on the numbers,” he said. potentially referring to an earlier X post by the Tesla and SpaceX CEO.
Srinivasan cited the 2024 financial report, which projected a $175.3 trillion present value shortfall in social programs, implying that the fiscal crisis was due to unfunded liabilities rather than just annual deficits.
“There is no fix. It’s a write-off. A national bankruptcy,” the former Coinbase executive argued. He added that the government would inflate …
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