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Story summary
- Elon Musk endorsed Warren Buffett's proposal to limit the national debt deficit to 3% of GDP, addressing the projected $40 trillion national debt.
- The U.S. Treasury reports the current debt at $38.9 trillion, equating to 124% of GDP.
- The Committee for a Responsible Federal Budget warns that if interest rates surpass economic growth, debt will continue to rise indefinitely.
- Buffett suggests that higher taxes on businesses may be required to manage the fiscal deficit.
