Warren Buffett’s well-known deficit plan held lawmakers accountable for keeping to a specific number. According to the headline, Elon Musk once backed the idea.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Elon Musk once backed Buffett’s 5-minute fix for national debt: ‘This is the way’
Read the original on Yahoo Finance ↗
Keywords
Elon MuskWarren Buffettpublic debt
Open a keyword to see other news on the same topic.
Related news
- Trump's Latest Warning Is Scaring Retirement Savers. What Would Warren Buffett Do to Stay Ahead?
September inflation rose to 3.7%, well above the Federal Reserve's 2% target, as tariffs and the war in Iran pushed up consumer prices and the Fed raised interest rates. U.S. debt has reached $40 trillion and keeps rising, Treasury yields have climbed, and President Trump was quoted saying that certain levels of inflation would pay off the debt very rapidly. At the end of 2025 shareholder meeting, Warren Buffett warned he would not want to own assets in a currency that is heading toward serious decline, and Berkshire Hathaway holds about $365.5 billion in cash. The article argues that diversified investors have come through worse periods, such as the 1970s when inflation peaked at almost 15%.
- You Cant Outrun a Bear Market , but Successful Investors Dont Have to Because They Follow This Playbook Instead
Despite headwinds such as more than $40 trillion in U.S. debt and loan delinquencies at their highest since 2010, the S&P 500 was up 14% in 2026 as of October 13. A bear market is a drop of 20% or more, and the article argues that panic selling during downturns can be costly, since 48% of the S&P 500's best days from 1996 through 2025 occurred during bear markets, according to Hartford Funds. A $10,000 investment in 1996 would have grown to $192,167 by the end of 2025, but missing the 10 best days would have reduced that to $85,490, and missing the 30 best days to $31,123. Instead of trying to time the market, it suggests holding high-conviction stocks that investors are comfortable buying more of if prices fall, echoing Warren Buffett's advice that one should not own a stock for ten minutes unless willing to own it for ten years.
- Warren Buffett Should Emulate Musk and Give Berkshire Stock to America’s Kids
The article argues that Warren Buffett should follow Elon Musk’s example by giving Berkshire stock to America’s children. It suggests such a gift would likely be a great investment for the children.
- Elon Musk: The only way to solve America's $40,000 billion debt
In a conversation with biographer Walter Isaacson on The Builders podcast, Elon Musk said AI and robots may be the only way to solve America's public debt. After 130 days as a special government employee, he concluded that spending cuts are not a workable fix because of political opposition, and instead pointed to sharp productivity gains from automation. US public debt hit a record $40,000 billion in August 2026. Musk also predicted that in a multi-planet civilization, currency could be measured in physical quantities such as watts and tons rather than traditional money. The article notes that higher productivity does not guarantee lower federal debt, since the government would still need to collect enough revenue through taxes or other sources.
- Elon Musk Says AI And Robots Are The Only Way To Solve America's $40 Trillion Debt Problem — 'We're Not Gonna Save Our Way There'
Elon Musk told biographer Walter Isaacson, in a podcast interview reported by Axios, that the US national debt can only be solved with AI and robots, not by trying to save its way out. Musk said his time leading the Department of Government Efficiency (DOGE) showed how hard it is to cut the deficit from within government, because cutting wasteful spending means you make a lot of enemies. The U.S. national debt stood at roughly $40.39 trillion as of Oct. 15, according to Treasury data cited in the report. He added that he should have focused on AI sooner and been more in the background during his time in the Trump administration. The article also notes Tesla's shift toward robotics, and Musk's claim that AI and robots could enable universal high income, a view criticized by NYC Mayor Zohran Mamdani and Sen. Bernie Sanders.
- Elon Musk Has a Tesla Problem He Can’t Seem to Fix
Related markets
Latest news
- Interest Rates on October 31 at Agribank, Vietcombank, BIDV, VietinBank, MB, VPBank, Techcombank, Sacombank, HDBank,...
A survey of online savings deposit rates at 35 banks as of October 31, 2026 shows significant differences between banks and terms. The 3-month term is most commonly listed at 4.75% a year, while SCB lists 0.1% a year, the lowest in the table. For 12 months, MBV, PGBank, Sacombank, VCBNeo and VIB all list 7% a year, while VPBank leads the 18-month term at 7.4% a year. The article notes that actual rates offered by staff at some banks can reach 8–9% a year, depending on deposit amount and conditions.
- Protest Wave Spreads to Germany; France Braces for Halloween Riot Risk
In Germany, more than 160,000 people are expected to join protests on October 31 in 34 cities, organized by the 'Gen Z regelt' movement against mandatory military service and for more education funding. German authorities warned that extremist groups, including far-left ones, could try to exploit the situation to cause disorder. In France, 70,000 police will be deployed for the nationwide protest on October 31, two weeks after riots and looting damaged many shops and public buildings. Interior Minister Laurent Nunez said current law allows police to ban face coverings when public order is threatened, as authorities worry rioters may use Halloween masks to hide their identities. BSK, the national student representative body, has distanced itself from the movement and plans its own protest on November 20.
- Finance Minister Explains Inflation Control and Disbursement Progress
Finance Minister Ngô Văn Tuấn said economic growth reached 9.01% and inflation 4.52% in the first nine months, with rising oil prices tied to geopolitical conflicts as the main price pressure. Brent was forecast to average $79 per barrel in 2026 but had risen to $118-120 at the time of his remarks, while the government is rolling out tax exemptions, reductions and extensions with total support of about 360,000 billion VND in 2026. Market capital mobilization rose 15% in the first nine months, and 10 IPOs since late 2025 raised over 60,000 billion VND, nine times the total for 2021-2025. Public investment disbursement reached 62.9% after nine months, but advances still account for about 37%, and the minister acknowledged that budget forecasts have not closely matched actual results.
- Governor Discusses Interest Rates, Real Estate Credit and Capital for Businesses
State Bank of Vietnam Governor Phạm Đức Ấn said real estate credit grew 9.84%, below overall credit growth of about 12.27%. Deposit rates rose 1.42% while lending rates rose 0.99%, narrowing the gap between them. Short-term deposits make up about 80% of total deposits, but because people frequently roll them over, this funding is relatively stable. Small and medium-sized enterprises still struggle to access bank loans due to small capital, weak resilience and opaque financial information, so the Governor stressed that firms should not keep two different balance sheets for tax and borrowing. The SBV will encourage banks to support firms, including debt restructuring under current regulations.
- Why Are Bank Deposits So High?
State Bank of Vietnam Governor Phạm Đức Ấn said deposits remain concentrated in banks mainly because people still trust the banking system. Short-term deposits make up 80% of total deposits, but since people frequently roll them over, this funding is relatively stable and helps banks lower funding costs, which supports lower lending rates. He said that as the capital market develops and becomes more attractive and safer, household investment allocation could become more balanced. The Governor also said credit growth reached about 12.27%, with real estate credit up 9.84%, below the overall rate, while deposit rates rose 1.42% and lending rates rose 0.99%.
- SpaceX Just Dropped 9% in a October. Is It Time to Sell, or Load Up?
SpaceX (SPCX) stock is down 9% over the past month and closed at $134.70, near its $135 June IPO price, even as third-quarter revenue rose 161% to $14.6 billion. Its AI segment, Super Intelligence, generated $7.6 billion of revenue and absorbed $16.4 billion of the quarter's $19.6 billion in capex, while the Connectivity segment earned $2.4 billion of $2.8 billion in operating income. Bloomberg identified Anthropic as the customer behind 34.5% of third-quarter revenue, and Anthropic's IPO filing says it agreed to spend up to $120.5 billion with SpaceX through 2029, though either side can cancel on 90 days' written notice once initial noncancelable periods end in January and March 2027. The average analyst target rose from about $224 to $257.11 after the third-quarter report, 91% above Friday's close.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.