You can’t say they haven’t warned us.
Donald Trump has mused openly about being a dictator for a day, seeking retribution against his political enemies and mass deportations unlike any seen before. Appearing Friday at a campaign town hall, one of his more outspoken surrogates, Elon Musk, said Americans should prepare for “temporary hardship” if the Republican nominee reassumes the presidency.
Musk said he would “balance the budget immediately,” cutting social services to people he said are “taking advantage of government.”
“I’ll probably need a lot of security, but it’s got to be done,” said Musk, who appears intent on leading Trump’s proposed “Department of Government Efficiency,” which would “trim the fat” from government agencies, particularly those responsible for oversight and regulation. “And if it’s not done, we’ll just go bankrupt.”
It’s an unusual pitch to working Americans who are having trouble keeping up with the rise in costs of everyday goods and services. Musk, Trump’s biggest donor and the world’s wealthiest person, seems to indicate they’ll be the ones shouldering the necessary economic collapse. It’s worth noting that Musk has been a huge benefactor of government investment.
Apparently, the billionaire class will be immune to his push for radical austerity.
“It’s funny how the oligarchs always think they know what’s best for their underlings,” said a commenter on Musk’s social media platform, X.
“He’ll be JUST FINE while you are suffering,” wrote another.
Musk’s comments seem to contradict Trump’s promises to leave social security alone and enact massive tax cuts. Economists have been critical of the GOP’s agenda; more than half of the living U.S. recipients of the Nobel Prize for economics signed a letter that called Vice President Kamala Harris’ plan “vastly superior” to the those proposed by the former president.
The letter states Trump’s tariff and tax policies will hike inflation and turbo charge the federal deficit, an assertion shared by most economists.
Trump seems unfazed by the criticism, promising to impose sweeping tariffs… “The most beautiful word in the dictionary is a tariff,” Trump said. “It’s my favorite word.”
Musk made no mention of tariffs during his remarks Friday. The short-term pain is necessary, he said, “to ensure long-term prosperity.”
But why blow up an economy that is the “envy of the world,” according to The Economist, citing record growth, low unemployment and the lowest inflation of any nation in the G7, and a stock market setting new highs nearly every day.
As one commenter on X noted, “Sacrificing the well-being of the public in the name of ‘efficiency’ asks more than it gives.”
Musk currently has a net worth of $269.3 billion due largely to his companies, Tesla and SpaceX (he’s actually lost money on X, formerly Twitter).
He could purchase the world’s most expensive house, fastest yacht, a DaVinci painting, the late Queen Elizabeth’s summer home, Balmoral Castle, a 1963 Ferrari GTO and a professional sports team and still have money left over.
That kind of wealth makes his pitch of economic suffering even tougher to swallow for some.
“Temporary hardship! That just set me all the way off,” wrote a commenter on X. “If that basket case, f-ck up of a human being, waste of life, Trump gets in the first person we should rob is Musk. That way, he can be a part of the hardship experimental process especially since it was his dumbass statement. Jackass.”
But not everyone is afraid to feel the pain.
If Trump succeeds in forcing through mass deportations, combined with Elon hacking away at the government, firing people and reducing the deficit – there will be an initial severe overreaction in the economy – this economy propped up with debt (generating asset bubbles) and artificially suppressed wages (as a result of illegal immigration),” explained one X member.
“Markets will tumble,” he continued. “But when the storm passes and everyone realizes we are on sounder footing, there will be a rapid recovery to a healthier, sustainable economy. History could be made in the coming two years.”
To which Musk replied, “Sounds about right.”
