The world’s wealthiest person per Forbes, Elon Musk, is well-known for his appetite for risks and doesn’t shy away from keeping risky assets like Bitcoin (BTC) on the balance sheets of his companies Tesla (Nasdaq: TSLA) and SpaceX (Nasdaq: SPCX).

But there is a risk that he says the United States of America cannot afford: bankruptcy.

The tech tycoon has sounded the alarm over the U.S. going bankrupt and failing as a country unless it aggressively embraces new technologies like artificial intelligence (AI) and robots.

Musk appeared on the “Dwarkesh Podcast” on Feb. 5 where he reiterated his concern about the soaring national debt as interest payments to the debt exceeded the military budget. In fact, he added that the country pays $1 trillion on debt interest payments only.

This is why he said he joined the Department of Government Efficiency (DOGE) to slow down the bankruptcy of the United States and give enough time for AI and robots to solve the debt.

“We are 1000% going to go bankrupt as a country and fail as a country without AI and robots,” Musk warned. “Nothing else will solve the national debt.”

In fact, the billionaire predicted in a post last month that there will be such an abundance of goods and services in the AI age that prices will decline, leading to deflation instead of inflation.

Source: https://finance.yahoo.com/markets/crypto/articles/elon-musk-warns-america-1-172527338.html