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Elon Musk Renews Criticism of Trump Spending Bill, Calls for New Political Party

Elon Musk speaks during a press conference with US President Donald Trump (not pictured), at the White House in Washington, DC, US, May 30, 2025. (Reuters)
Elon Musk speaks during a press conference with US President Donald Trump (not pictured), at the White House in Washington, DC, US, May 30, 2025. (Reuters)
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Elon Musk Renews Criticism of Trump Spending Bill, Calls for New Political Party

Elon Musk speaks during a press conference with US President Donald Trump (not pictured), at the White House in Washington, DC, US, May 30, 2025. (Reuters)
Elon Musk speaks during a press conference with US President Donald Trump (not pictured), at the White House in Washington, DC, US, May 30, 2025. (Reuters)

Billionaire Elon Musk reiterated his criticism of US President Donald Trump's spending legislation on Monday, arguing that it underscores the need for a new political party.

The Tesla chief slammed the "insane spending" of the bill, particularly the measure that increases the debt ceiling by $5 trillion.

"It is obvious ... that we live in a one-party country – the PORKY PIG PARTY!! Time for a new political party that actually cares about the people," Musk wrote on X.

Musk has repeatedly expressed frustration with what he sees as bipartisan indifference to ballooning government debt. Earlier this month, he publicly clashed with Trump over the bill, before backtracking later.

The bitter public feud has led to volatility for Tesla, with shares of the company seeing wild price swings that erased approximately $150 billion of its market value, though it has since recovered.

The dispute underscores growing tensions between the administration and prominent business leaders over fiscal policy priorities.

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Mojtaba Khamenei Says Closure of Strait of Hormuz Should be Used as 'Leverage'

(FILES) In this picture obtained from Iran's ISNA news agency, Mojtaba Khamenei (C), son of Iran's supreme leader Ayatollah Ali Khamenei, walks along a street in Tehran on May 31, 2019. (Photo by Hamid FOROUTAN / ISNA / AFP)
(FILES) In this picture obtained from Iran's ISNA news agency, Mojtaba Khamenei (C), son of Iran's supreme leader Ayatollah Ali Khamenei, walks along a street in Tehran on May 31, 2019. (Photo by Hamid FOROUTAN / ISNA / AFP)
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Mojtaba Khamenei Says Closure of Strait of Hormuz Should be Used as 'Leverage'

(FILES) In this picture obtained from Iran's ISNA news agency, Mojtaba Khamenei (C), son of Iran's supreme leader Ayatollah Ali Khamenei, walks along a street in Tehran on May 31, 2019. (Photo by Hamid FOROUTAN / ISNA / AFP)
(FILES) In this picture obtained from Iran's ISNA news agency, Mojtaba Khamenei (C), son of Iran's supreme leader Ayatollah Ali Khamenei, walks along a street in Tehran on May 31, 2019. (Photo by Hamid FOROUTAN / ISNA / AFP)

Iran’s Supreme Leader Mojtaba Khamenei issued his first statement on the war on Thursday, saying that the leverage of closing the Strait of Hormuz should be used.

Khamenei called on people in Gulf countries to “shut down” US bases, saying promised US protection is “nothing more than a lie.”

Khamenei did not appear on camera. Israeli intelligence assessed that he was likely wounded in the war’s opening salvo, which he said also killed his wife, one of his sisters, his niece and his father, Supreme Leader Ali Khamenei.

US President Donald Trump has promised to “finish the job,” even as Iran is “virtually destroyed.” The first week of the war cost the United States $11.3 billion, according to the Pentagon.

“One point I must emphasize is that, in any case, we will obtain compensation from the enemy,” Khamenei said.

“If it refuses, we will take from its assets to the extent we deem appropriate, and if that is not possible, we will destroy its assets to the same extent.”

 

 

 

 

World

Russia Condemns Trump Comments on 'Takeover' of Cuba

US President Donald Trump greets Russian President Vladimir Putin, Aug. 15, 2025, at Joint Base Elmendorf-Richardson, Alaska. (AP Photo/Julia Demaree Nikhinson, File)
US President Donald Trump greets Russian President Vladimir Putin, Aug. 15, 2025, at Joint Base Elmendorf-Richardson, Alaska. (AP Photo/Julia Demaree Nikhinson, File)
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Russia Condemns Trump Comments on 'Takeover' of Cuba

US President Donald Trump greets Russian President Vladimir Putin, Aug. 15, 2025, at Joint Base Elmendorf-Richardson, Alaska. (AP Photo/Julia Demaree Nikhinson, File)
US President Donald Trump greets Russian President Vladimir Putin, Aug. 15, 2025, at Joint Base Elmendorf-Richardson, Alaska. (AP Photo/Julia Demaree Nikhinson, File)

Russia condemned on Thursday what it called blackmail and threats by US President Donald Trump to initiate a "takeover" of Cuba, a traditional ally of Moscow.

Russian Foreign Ministry spokeswoman Maria Zakharova said Moscow would provide all possible political and diplomatic support to Cuba and called for a diplomatic solution to the tensions with Washington, Reuters reported.

Trump said on Monday that Cuba was in "deep trouble" and that US Secretary of State Marco Rubio was dealing with the issue, which may or may not be a "friendly takeover."

World

Trump Says Stopping a Nuclear Iran More Important than Oil Prices

US President Donald Trump talks to the media upon his arrival at Joint Base Andrews, Maryland, US, March 11, 2026. REUTERS/Kevin Lamarque
US President Donald Trump talks to the media upon his arrival at Joint Base Andrews, Maryland, US, March 11, 2026. REUTERS/Kevin Lamarque
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Trump Says Stopping a Nuclear Iran More Important than Oil Prices

US President Donald Trump talks to the media upon his arrival at Joint Base Andrews, Maryland, US, March 11, 2026. REUTERS/Kevin Lamarque
US President Donald Trump talks to the media upon his arrival at Joint Base Andrews, Maryland, US, March 11, 2026. REUTERS/Kevin Lamarque

US President Donald Trump on Thursday said that stopping Iran from getting nuclear weapons was more important to him than controlling oil prices, Reuters reported.

"The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money. BUT, of far greater interest and importance to me, as President, is stopping an evil Empire, Iran, from having Nuclear Weapons, and destroying the Middle East and, indeed, the World," said Trump in a post on his Truth Social platform.