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Elon Musk shares meme mocking Bill Clinton’s 2000 claim about US national debt, which now stands at $34T

via Fox News
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The text discusses the significant increase in the United States’ national debt, noting that it has far exceeded previous projections.

It highlights a meme shared by Dogecoin creator Billy Markus, featuring a quote from former President Bill Clinton about paying off the debt by 2009, juxtaposed with the current debt of over $34 trillion.

Tesla CEO Elon Musk also commented on the issue, pointing out unfunded obligations that could push the debt over $100 trillion. (Trending: GOP Rep. Mace Clashes Directly With Hunter Biden At Hearing)

Musk wrote, “When you add unfunded obligations (like social security & medical), plus state & local debt, government debt will soon exceed $100 Trillion!”

In 2000, Bill Clinton said, “Our updated projections show that in this fiscal year alone, we expect to pay down the debt by an unprecedented $237 billion, meaning that over the course of just four years, we will have paid down the debt by $600 billion.”

“Let’s start with what the budget experts call the baseline. That’s a budget that just increases with inflation and no new initiatives,” explained the then-President.

“The new projections show that if we took that budget and committed the entire surplus to reducing the debt, we can make America debt-free by 2009,” said Clinton.

Ray Dalio, famed investor and founder of the world’s largest hedge fund, Bridgewater Associates, said, “We are at a point in which we are borrowing money to pay debt service.”

“The way that works, it accelerates,” cautioned the financial expert.

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