Elon Musk says ‘America is going bankrupt’ as 76% of June tax receipts went to interest on debt

The fiscal position of the United States continues to deteriorate as the federal government’s deficit has swollen to $1.27 trillion in the fiscal year ending in June, hampered by surging interest payments on the growing national debt, which is quickly approaching $35 trillion. The situation is exemplified by the data from June, with the Treasury Department...