{"id":65868,"date":"2026-05-11T08:15:12","date_gmt":"2026-05-11T08:15:12","guid":{"rendered":"https:\/\/www.europesays.com\/people\/65868\/"},"modified":"2026-05-11T08:15:12","modified_gmt":"2026-05-11T08:15:12","slug":"this-is-the-way-worlds-richest-man-elon-musk-endorses-warren-buffetts-five-minute-plan-to-fix-us-debt-now-at-40-trillion-what-is-it","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/people\/65868\/","title":{"rendered":"‘This is the way’: World’s richest man Elon Musk endorses Warren Buffett’s five-minute plan to fix US debt now at $40 trillion. What is it?"},"content":{"rendered":"

Elon Musk, the world’s richest man, has backed ace investor Warren Buffett<\/a>‘s five-minute plan to tackle the growing America’s debt crisis. The national debt in the United States of America is set to reach $40 trillion in the near future if it continues to grow at its current pace and Elon Musk<\/a> has endorsed the proposal after he shared a 2011 CNBC interview with Buffett in June and wrote: \u201cThis is the way.\u201d <\/p>\n

\u201cI can end the deficit in five minutes,\u201d Buffet said in a 2011 interview with CNBC. \u201cYou just pass a law that says that anytime there\u2019s a deficit of more than 3% of the GDP, all sitting members of Congress are ineligible for reelection. Now, you\u2019ve got the incentives in the right place.\u201d
ALSO READ: Quote of the Day by Sundar Pichai<\/a><\/p>\n

The clip recently went viral again and gained fresh support from high-profile personalities. Senator Mike Lee of Utah reposted the video on X (2), asking the public, \u201cWould you support this amendment?\u201d<\/p>\n

The question sparked a wave of responses, including one from Elon Musk, CEO of Tesla and owner of X, who replied: \u201c100%. This is the way (3).\u201d<\/p>\n

\"ETLive Events\u201cI\u2019m drafting a constitutional amendment to oust every member of Congress whenever inflation exceeds 3%. It\u2019s better to disqualify politicians than for an entire nation to suffer under the yoke of inflation,\u201d he wrote on X.
ALSO READ: Pakistan Army Chief Asim Munir threatens India again on Operation Sindoor anniversary<\/a>
US national debt stands at $38.9 trillionLast year, the national debt increased by $2.6 trillion, reaching a total of $38.9 trillion, which is about 124% of the US economy, according to the U.S. Treasury<\/a>.Recently, the country\u2019s public debt, referring to the money owed by the federal government to external creditors, surpassed the size of the economy for the first time since World War II. On top of this, interest payments have also surged, costing over $22 billion every week, as per the Congressional Budget Office (CBO).Relationship between Elon Musk and Warren BuffettWarren Buffett and Elon Musk, two of the world\u2019s most influential and wealthiest businessmen, have long been perceived as having a strained relationship. However, at Berkshire Hathaway<\/a>\u2019s shareholder meeting on May 6, Buffett offered notably positive remarks about Musk, calling him a \u201cbrilliant, brilliant guy\u201d and praising his commitment to tackling extremely difficult challenges.<\/p>\n

Buffett also highlighted Musk\u2019s appearance on HBO\u2019s \u201cReal Time with Bill Maher,\u201d which aired on April 29. He said, \u201cElon does a terrific job toe-to-toe with Bill Maher,\u201d adding that Musk \u201cdreams about things and his dreams have got a foundation,\u201d acknowledging both his vision and ability to execute ambitious ideas.<\/p>\n

Over the years, Elon Musk has taken jabs at Warren Buffett calling his style of capital allocation \u201cboring\u201d and questioning the relevance of reading financial reports all day.<\/p>\n

In 2020, Musk appeared on The Joe Rogan Experience and openly criticised Warren Buffett\u2019s approach to investing, saying, \u201cTo be totally frank, I\u2019m not his biggest fan.\u201d He mocked Buffett\u2019s routine of reading company reports, describing it as \u201csuper boring.\u201d<\/p>\n

He repeated the remarks in 2021, and he stated that Buffett\u2019s job \u201cdoesn\u2019t sound fun,\u201d but acknowledged that Buffett does \u201ca useful job for the economy\u201d and is \u201cvery skilled at it.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Elon Musk, the world’s richest man, has backed ace investor Warren Buffett‘s five-minute plan to tackle the growing…\n","protected":false},"author":2,"featured_media":65869,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[122],"tags":[1144,202,32091,38623,203,16770,38620,38621,669,4224,38622],"class_list":{"0":"post-65868","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-elon-musk","8":"tag-berkshire-hathaway","9":"tag-elon-musk","10":"tag-elon-musk-news","11":"tag-elon-musk-warren-buffett","12":"tag-musk","13":"tag-u-s-treasury","14":"tag-us-national-debt","15":"tag-us-national-debt-40-trillion","16":"tag-warren-buffett","17":"tag-warren-buffett-news","18":"tag-warren-buffett-plan-to-fix-us-debt"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@people\/116554951993361072","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts\/65868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/comments?post=65868"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts\/65868\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/media\/65869"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/media?parent=65868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/categories?post=65868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/tags?post=65868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}