Tech billionaire Elon Musk has advised the United States government to address inflation by reducing wasteful spending.
Musk emphasized that the root cause of inflation is the federal government's habit of spending more than it earns, which leads to excessive money printing to cover the deficit.
Musk articulated his views in a post on his X handle. He stated, "Inflation is caused by the Federal government spending more than it earns, because they just print more money to make up the difference.
To solve inflation, reduce wasteful government spending. Your tax dollars should be spent well, not poorly."
This advice comes amid Musk's frequent public commentary on various political and social issues, including the U.S. election, UK riots, and the Biafra independence movement.
His latest remarks highlight the importance of fiscal responsibility and effective use of taxpayer money as essential measures to curb inflation.
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