Elon quake! Musk Shocks Washington With Anti BBB X Post!
Suddenly Elon Musk could not contain himself any longer. Yesterday on X he put out a post heard around the world, declaring himself completely opposed to the "big beautiful bill" that will add trillions in national debt and will not cut spending until years down the road. Additionally, Musk threw a lifeline to those few in Washington who have spoken out against the massive spending bill. Speaker Johnson tries to put on a brave face, but can he recover from this humiliating smackdown?
Hello, everybody, and thank you for tuning in to the Liberty Report.
With us today, we have Daniel McAdams, our co-host.
Daniel, good morning.
Good morning, Dr. Paul.
How are you this morning?
Doing well.
Doing well.
What's going on?
I wonder how all the politicians are feeling about people who want to cut the budget.
But you know what?
With all this stuff going on, I would say some truth is breaking out.
More people are starting to realize that some of our concerns are being heard by a larger number of people.
But you know, one thing I've told people I do, I look at the gold price every morning because I think it tells us a whole lot.
Not that I care about the gold price, but I look at a gold relationship to the dollar.
So if the dollar price of gold is going up, that means the value of the dollar is going down.
And that's where our problems are.
And there's two people once again getting an argument over there, Trump versus Powell.
And Trump is unhappy because Trump, even weeks ago, was arguing with the chairman of the Fed, lower rates, lower rates.
Trump is smart enough to know that you can't get away with this without having a recession.
And the tradition with Keynesian economics is when you have a recession, obviously you get out by creating more inflation with the monetary system.
You do that by lowering rates and pumping up the money supply.
And sometimes it helps and sometimes it just delays the inevitable.
But now Trump is just furious that Powell didn't listen to him.
And now things are kind of breaking out.
There was a report this morning that the new job report way under the estimates means that more people are admitting and recognizing the recession, depression that's on our doorstep is actually there.
And now they're looking for blame.
But Trump was not very friendly about this, and he was after Powell.
I would think taking on and taking on a major argument with Musk might be enough for him.
But anyway, the economy is still the big one.
The other is politicking, and they're dealing with deficits.
But when it comes to monetary policy, we can't have these deficits without the tyranny of the Federal Reserve, the power it has to print money, and then all the lobbyists lining up.
And it always encourages overspending, whether it's for the military or domestic welfareism or corporatism or whatever, or corporatism, and feeding it into the drug industry, whatever.
It's done.
And then cutting it off is tough.
And recessions are hard.
And even the medicine they take is tough medicine.
That's why they don't do it.
So they're going to inflate to the end.
So even though there's an argument going on and Trump said, you're way too late, do it now and do it big time.
Print up the money.
So, but I don't think he at least doesn't have an agreement or an understanding that we might have that that's part of the problem is you run into trouble.
You just print more money.
But there's a lot of people that would support this.
You know, they've been doing it to certain degrees because the more mild recessions that we've had, when the economy turns on, they print the money, and this stimulates some businesses.
And this is helpful.
But it's not an answer to overspending.
And it looks like Doge hasn't helped at all.
It looks like looks like we're not going to have cuts in the budget.
It looks like the budget's as bad as ever.
So it is indeed a serious problem.
But a major event occurred yesterday because Musk decided he has had enough.
He didn't say, sorry, Fergus, I have other business.
I better attend to my business.
Like it was the week before it was sort of, I need to back off from this.
This was a big deal.
And the dust has not settled yet.
And it's no accident.
I think they're still dealing with that budget.
And I think there's going to be a vote.
I think they're talking about it in a set.
And there's a lot of unhappy people when Schumer comes out as on the fiscal conservative side.
You know, there's something messed up and there's some gimmicks going on.
And this is, to me, just an absolutely expected result of total chaos when a country is totally bankrupt and people around the world are still willing to take our dollar, but less so every single day.
And today with that jobs report is indicating that they can't hide the recession.
People say, when's the recession going to start?
Well, they have tools and techniques and major rents.
Yesterday has started.
I think it has started a long time ago by some people.
You know, there are some people who just drop out.
They don't even get counted anymore.
And they live on food stamps.
And the recession, in many ways, is still here, already here.
So this is a big thing, but it is true that the gold price is watched and gold prices were significantly elevated these past several months.
And that's a reflection that people are anticipating.
And the markets know that the inflation, the price inflation is coming and that the Fed will also, in spite of its seemingly hesitancy to not do it exactly as Trump's saying, print now and print a lot.
They will print.
That's the only tool they have.
So this is a problem we face on top of the whole idea when you have an inflation and you have a bankrupt financial system and a bankrupt moral system in government, you end up with chaos.
And I just hope this isn't a sign that the cultural Marxists of Marxists have won by creating the chaos because we need a new look at our total philosophy that would protect our freedoms.
That's what we need.
And we should also remind people sound money would go a long way to helping us get out of this mess.
Yeah, Dr. Paul, you know, the noise to signal ratio can be high on X.
But yesterday at 1231 p.m., there was a post heard around the world, I think you would call it.
And that post, as of this morning, when I clipped it, had been seen by 106.4 million people.
That's a big post.
And that's when Elon Musk did what I call an Elon quake, an earthquake.
Shot heard around the world.
And you get the feeling.
When I first read it, I got the feeling that Elon Musk had been holding this in as long as he possibly could, biting his tongue, probably bloodying his tongue, biting his tongue, because, of course, he doesn't want to go against the administration.
He doesn't want to hurt the president that he likes, that they've gotten along so well.
And I don't think he's trying to hurt him.
I think he's trying to help.
And this is the tweet.
This is the post on X. If you haven't seen it yet, you've probably been sleeping.
But this is Elon about the big, beautiful bill.
Put that first clip up.
Very succinct.
I'm sorry, but I just can't stand it anymore.
This massive, outrageous, pork-filled congressional spending bill is a disgusting abomination.
Shame on those who voted for it.
You know you did wrong.
You know it.
That is an extremely powerful post.
He followed up a couple minutes later with this next one.
If you put that next one on, he goes into detail.
It will massively increase the already gigantic budget deficit to 2.5 trillion and burden American citizens with crushingly unsustainable debt.
That is a very heavy weigh-in for Elon Musk.
You know, I think what this is revealing, the diagnosis of our problems is coming to the surface because we have dealt with a lot of people a long time that saw it coming a long time ago.
I think my true awakening to the long-term trends of our country and our dollar was way back in 1971.
But the diagnosis now is becoming apparent.
More people recognize this, and this is sort of a climactic, maybe it is a climactic recognition by an authority that people can't avoid listening to.
And at the same time, we see that the dollar is indicating a problem and gold is indicating there's a problem coming.
So this to me is good news of the diagnosis.
The diagnosis, you know, in medicine is very important, even though it could be scary.
But if you have a diagnosis, you say, is there a treatment?
And right now, there's a challenge.
I think the diagnosis is becoming apparent.
And when you see Chuck Schumer joining in and voting with some conservatives, you know, there's something screwy.
But the big question of what is going to be the treatment from this.
And, you know, right now, I think it's dramatic, the difference between what Trump thinks they should do with the money supply and what Powell thinks.
And also what maybe some other sound money people, what maybe the Mises Institute is thinking.
What do we do with the monetary policy?
And that's the tough part.
It's tough treatment.
And that's the reason I've always said, and I hope I'm totally wrong, that they're not going to do the right thing right away.
But they have to know what's happening.
They have to know when it comes, what to do, and not to accept the idea, well, we just need a stronger president to take charge of everything.
And that's that we don't need.
We need more liberty to make our own decisions.
We need the government out of the way and then get rid of the deficit.
And that hurts and stings.
But the diagnosis is appearing.
The treatment, I think a lot of people know about it, but they don't want to admit it.
And I'd like to think that we can help them understand why we have to go through the treatment period in order to restore a healthy economy.
You know, the thing is that Elon Musk could have very easily faded into the sunset.
He came in onto the scene in a very animated way.
He captured a large chunk of the MAGA base who's still with him.
He achieved a lot of what he wanted to achieve.
And then his time was up within government.
He could have easily gone on.
Now he's got to try to shore up Tesla because all the liberals who are buying Tesla put him on fire because he ended up doing something with Trump.
You know, he's got SpaceX to deal with.
It's not a small venture.
He could have easily just focused on this.
But really, to a lot of personal and potentially financial risk, certainly reputational risk, he dove back into it.
And not only did he do that, Dr. Paul, but he became, I had the sense that he became more animated once that dam burst, once that burst, and he finally blurted out what had been troubling him so much, that this bill is so bad.
Then he went on to do several tweets.
I've captured posts on X, I should say.
I've captured a few of them, just in case people haven't seen them.
So he clearly had more to say than just that initial post.
I'll put this next one up.
Someone posted about the profligate spending of the GOP, and Elon Musk posted over it saying, in November of next year, we fire all politicians who betrayed the American people, which is strong.
But then he goes into some of the problems with this bill.
Go to the next one because he talks about something that's extremely important that we talked about yesterday, interest payments.
He said interest payments already consume 25% of all government revenue.
If the massive deficit spending continues, there will only be money for interest payments and nothing else.
No Social Security, no medical, no defense, nothing.
Go to the next one.
Geiger Capital posted on X about the significance of trillions.
Geiger Capital said a million seconds ago was May 23rd.
A billion seconds ago was 1993.
A trillion seconds ago was 30,000 BC.
The U.S. national debt is now rising by a trillion dollars every 180 days, to which Elon Musk commented, this immense level of overspending will drive America into debt slavery.
You know, they want to make this very complicated and very painful, and the poor will be made poorer, which is a bunch of, you know, some truth to that, but what they're doing really is trying to save everybody's benefits.
And there's a lot of that, too.
The people, you know, when they say, well, there has to be cuts here in Social Security, I mean, everybody that's dependent on it, there's so much dependency on government.
So even the average person that senses there's something wrong, they're not going to say, well, it's cut my style father going to do it.
But why shouldn't it be, you know, inviting for people to say, hey, look, this is a mess.
Nobody's going to stop it.
Musk didn't do it, and Trump's not going to do it.
So why don't we do this?
Why don't we just have an agreement?
Why don't we just spend exactly the same amount of money this year as we spent last year, which in real terms is, you know, a cut.
But the truth is, is the people who have to make a living, their income may go down.
It goes down because of inflation, but they don't get automatic raises to cover it.
So that would solve the problem real quick, but it would be unacceptable.
And, you know, Congress wanted to respond to this.
And the White House sends Congress the $9.4 billion in Doge cuts after Musk rages against the big bureaucracy.
So $9.4, well, that's a lot of money.
Except you went again.
You know, the figures, a few people we have mentioned, oh, well, you should think about the deficit, you know, the legal deficit that you're allowed to and legal debt limit.
Paul Responds to Musk's Criticism00:05:14
Well, what is it?
Oh, well, they're going to add $5 trillion.
That's a little bit of money.
What is $9.4 billion?
Is that going to make everybody happy?
Too little, too late.
Well, here's another, just one more comment that Musk made.
Someone posted, and I don't have the entire chart, but you can see the dramatic rise in national debt in that next post, if you can put it up.
Incredible increase, vertical, vertical increase in national debt.
And the person who posted, it's a parody of Jerome Powell, but the chart itself is accurate.
This is not Apple, Tesla, or even NVIDIA.
It's the U.S. national debt, to which Elon responded, mammoth spending bills are bankrupting America enough.
And this is just a sampling of some of the comments he made.
He was on fire.
He was clearly animated after he had finally broken that.
But the other good news about this, Dr. Paul, is not that he said it, not that he said this emperor, this bill has no clothes, but that he backed up some of the people that we've been trying to defend who have stood up at great personal and political risk to oppose the bill.
Now, the next one is someone we know.
Elon posted, Congress is making America bankrupt, to which Senator Paul responded, some of us are trying to stop that.
Elon Musk responded by saying, thank you.
And now here's how Reason characterized it.
And I like this.
If you put that next one up, Reason Magazine characterized it.
It's Rand Paul and Elon Musk versus Donald Trump over the big beautiful bill.
That's probably a good article.
And now he also, Elon Musk also commented on Thomas Massey.
Thomas Massey, going to the next one, put out a post commenting on Elon's record, you know, earthquake post saying he's right.
Thomas Massey said he's right.
Elon Musk responded, simple math.
And someone who we both know, who may or may not be with us in the room, go to the next one, Ron Paul.
When Musk came out with his post on X saying, I'm sorry, I can't stand it anymore, Dr. Ron Paul said, we are with you on this, Elon Musk, with a post to our show yesterday when we defended Rand Paul, to which Elon Musk responded with a red heart, which I think is a good sign.
So not only did he express his concerns about it in a very dramatic way, but he also backstopped the people who are out there fighting it.
Right.
You know, one problem that we always face when things like this happen is where can you get the truth?
And the whole system is based on that.
See, because both sides, you know, they fudge things and distort things and tell flat-out lies about it.
How many times, how many, how many times do you think we've heard lies about why we had to spend more money protecting our security, protecting our country by going into another war which endangers us and bankrupts us?
So the issue really, I think it boils down to a moral issue of the people who won't admit the system we have is based on corruption.
It's based on counterfeiting.
It's based on theft.
It's based on theft, allowing the government to commit crimes that you and I can't commit without being punished.
And so we have a vacuum out there of people dedicated to truth.
So I see what's happened here in this last week.
There's been a bursting out of truth telling what's really going on.
People ought to wake up.
But there's still a lot of people who say, yeah, but, you know, where am I going to get my next benefit?
And those are good questions.
So how do you do that?
Because this system will end, but who's going to take it over?
Will the Marxists, if they were successful in creating the chaos in our cities, will they be the ones to run the picking up of these pieces that have been shattered?
And that is a real threat.
And when I speak about that, the Marxists picking out, I mean, anybody who's an authoritarian, and there are all forms of them.
So I put them all in one category.
People who would like to lie, cheat, and steal, and use that against the people who just want to be left alone and take care of themselves.
And a lot of lies are told in order to continue that process because the minority and people say, well, you know, this isn't good for, you know, political stability.
No, it is true that rich people get richer and the poor get poorer.
They can't keep up.
You can't keep up with minimum wage laws that says you will have to pay more.
That usually makes the problems worse.
They just don't understand the tremendous benefits from living in a free society.
And I hope we can contribute a little bit of education as to why freedom is a superior tool to just working it out by spending more money and printing more money.
Speaker Johnson's Reaction00:05:22
Yeah.
Well, you know, who probably had some heartburn yesterday, Dr. Paul, after Elon's tweet was a guy by the name of Speaker Johnson.
It must have hit him broadside because he's the one who husbanded this bill, husbanded this bill through the House.
He expended a lot of political capital.
He twisted a lot of arms.
He even got the House Freedom Caucus to roll over and beg and get the bill passed.
There were only a couple of holdouts, one of them being Congressman Massey.
So Johnson is blindsided by this.
And if it was anyone else than Musk, I mean, Musk has a lot of power.
He has a lot of wealth and he's willing to use it.
I have three audio video clips of Speaker Mike Johnson reacting to this.
And I thought maybe we would listen to them just to give the sense of how significant this was.
Let's go ahead and cue those clips.
I think they're fairly short.
So let's listen to those.
Let's just listen to them in a row if we can.
Here's Speaker Johnson.
Calls him back today.
I talked to President Trump all the time, multiple times a day.
Obviously, we've talked about this.
As you know, he's not delighted that Elon did a 180 on that.
But look, I don't know what happened in 24 hours.
Everybody can draw their own conclusions about that, okay?
But I look forward to talking to my friend about it again.
And I'm not upset about it.
All right.
Yeah.
Olivia.
See that look when he said, I'm not upset about it.
He looked upset about it.
And the other thing I was thinking about, Darpaul, is he's saying, I talked to Trump multiple times a day.
That's probably part of the problem because, you know, Trump is famous for listening to the last guy he talks to.
You know, he should probably ghost Johnson himself.
But let's listen to that second one now.
We'll go through these pretty quick.
Now, here's him complaining that Musk is just terribly wrong about the bill.
Yeah, let me say this.
It's very disappointing.
Okay.
I've come to consider Elon a good friend.
He's obviously a very intelligent person, and he's done a lot of great work.
With all due respect, my friend Elon is terribly wrong about the one big, beautiful bill.
Yeah, let me see that's done.
Terribly wrong about the one big, but we can all read it.
We've seen what's in it.
How could he be terribly wrong?
You know, it's very, very clear.
And the final one before I throw it back to you is kind of a funny one, actually.
And this is Elon clearly a little bit upset about what's no, this is sorry, Johnson, a little bit upset.
Let's play this one now.
What do you think changed?
Why do you think he's coming out against us now?
And have you spoken to the president and Elon since the end of this week?
Well, I'll tell you, I called Elon last night and he didn't answer.
But I hope to talk to him today.
I mean, it's not, you know, it's very friendly.
And we've laughed about our differences on policy before.
I'm not upset about this.
And I just, I think he understands, and he's acknowledged to me before.
This is so we can probably cut that.
When he says he's not upset about it, if you look at his face, he looks upset.
You know, yesterday you mentioned, I don't remember exactly the personnel that made the comment, but you said they could solve this problem if they would just pick up the phone and call him and sort it out and find out who's how the people stand.
You know, internationally speaking, I think we were talking about it.
But I remember a phone call I had from a very popular president and one that I knew better than most of those presidents, and that was Ronald Reagan.
And I have to give him credit.
He remained dignified.
And he was very interested in national defense.
And his position was a little bit different than mine, but I think it was very, very honest and he was consistent.
And he was trying to get the B1 bomber passed.
And I was having lunch in the dining room on the house side.
And I had somebody come up and say, hey, the president wants to talk to you.
I said, I guess I better take that call.
So I went over and I talked to the president.
Very nice.
And in about 30 seconds, he said what the situation was tough.
And he believed it was very important that we have this.
And it was calm, cool, and collected.
So I saw, I said, Mr. President, I'm so sorry that I'm not able to do that, but I have a campaign on this.
This was my position.
And I promised I wouldn't do it.
He said, oh, I understand.
And that was it.
He was very polite.
He didn't twist my arm or anything.
I thought, well, you know, it is such an advantage to that.
You know, like the other thing, sometimes the mediocre lobbyists, when they come through, they wouldn't come through because that would be my answer.
And they say, I don't think he's going to change.
And I think in many ways, they trend around a little bit like that, too.
Yeah.
They don't think he's going to bend.
Yeah, absolutely.
Nor will Massey.
Yeah, no, no.
And if anything, they're empowered by this.
So that's a very good thing for America.
Well, I'm going to close out, Dr. Paul, with a little announcement.
Go to that very, very last clip.
Our friends over at Young Americans for Liberty, Dr. Paul, it's not going to be a surprise party.
They're putting on a birthday party for you in August.
Am I invited?
You are invited, of course.
First Amendment Mischief00:03:21
And it's going to be here in Lake Jackson.
A lot of the old gang is getting back together again from the campaigns.
So if you were involved at that time, you're going to be among friends.
You can get tickets.
And I will put a link, of course, in the description, ronpaulbarbecue.com.
Check it out.
Check out who's going to be there.
It's going to be a fun event.
It's going to be a busy August for us.
We've got a barbecue on the 9th and the DC conference on the 16th.
It's going to be a wild August for us, but this is going to be a blast.
A lot of fun people, a lot of get-together, good music, good folks.
So I'll put a link in there.
And I will be reminding you as we move forward in these next few weeks to keep an eye on this, make your plans to come down to sunny Lake Jackson in August.
Wow.
It looks like I must attend that one.
Yeah.
It'll be, it's a quick commute for you, though.
I don't even have to get on an airplane.
You can even get on your bike and make it over there.
I want to thank the viewers for tuning in today.
I think significant events have occurred in this last week, and we do our best to try to understand it.
But the one goal that we work real hard at is trying to seek out and study and come across what we think is the truth of the matter.
And that doesn't mean that there's perfection and knowing everything, but there should be never a pretense that you can review and say this is the truth.
And it not being the truth, and they're telling lies on purpose.
There's no way we'll do that, but there'll be every effort we can make to study and understand and explain why living in a libertarian free society, why it's beneficial.
I love the word voluntarism.
Everything is voluntary.
How can you have fights if both sides are voluntary and all association instead of all these 125,000 regulations written that nobody can go through and say, we're going to have a loving society, we're going to have a perfect society, and we're going to divide up the wealth equally.
No, it should be divided up by voluntarism and the idea that you're rewarded for your efforts and that the government has responsibilities.
Like maybe they could apply an honesty to sound money and not lie about the money issue and other statistics that we hear from the government.
I basically, I'll read them.
But first off, I'll say, probably not true.
Oh, yeah, that sounds like it's a possibility.
But it's not like this is government.
This is authentic.
And a lot of people are reluctant to believe that everything they hear from the government.
Matter of fact, one of the most positive things we have now, more and more people percentage-wise are questioning what the government tells us.
I think that's healthy.
And that's why I think the First Amendment is so important, because I've always said we don't have the First Amendment so we can talk about the weather.
We have the First Amendment because we should be able to talk politics and criticize our government.
But I think right now we're losing that because a lot of mischief is done in the name of the First Amendment.
And what they're doing is distorting the principle of what the First Amendment should be doing.
I want to thank everybody for tuning in today to the Liberty Report.