The recommendation put forward by tech magnate Elon Musk urges the United States government to curtail wasteful expenditure as a solution to inflationary pressures.
Musk emphasized the importance of ensuring that taxpayer funds are allocated judiciously rather than squandered.
Expressing his views via a post on his X profile, Musk highlighted that inflation stems from the government’s deficit spending, resorting to printing more money to bridge the gap.
Musk shared his perspective, stating, “Inflation arises when the Federal government exceeds its earnings, resorting to printing additional currency to compensate.
“To combat inflation, the focus should be on reducing inefficient government outlays. It is imperative that your tax contributions are utilized effectively, not frivolously.”