Billionaire entrepreneur Elon Musk has intensified his criticism of US President Donald Trump’s proposed spending legislation, warning that the country is heading toward unsustainable debt and suggesting the creation of a new political party.
"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 Monday on his social media platform, X.
The Tesla and SpaceX chief was responding to a bill that includes a $5 trillion increase in the federal debt ceiling — a move Musk described as "insane spending."
Musk has repeatedly voiced concern over what he calls bipartisan complacency on fiscal responsibility.
Earlier this month, he publicly clashed with Trump over the bill, later softening his tone, but the dispute highlighted deeper tensions between political leaders and the country’s most high-profile business figures.
Tesla shares experienced significant turbulence following Musk’s initial criticism of the bill, with the company temporarily losing around $150 billion in market value.
While the stock has since rebounded, the episode underscored the sensitivity of markets to public friction between policymakers and corporate leaders.
Musk’s remarks come at a time of increasing debate in Washington over the growing national debt, and may signal broader disillusionment among Silicon Valley figures with both major US parties.
A new political party in US
Musk warned that if what he called this "insane spending bill" is passed, the "America Party" would be formed the very next day.
"Our country needs an alternative to the Democrat-Republican uniparty, so the people can have a real voice," he wrote.
The United States has long drawn criticism for its limited two-party political landscape, dominated by Democrats and Republicans.
Over the years, calls have repeatedly emerged to create a new party that could revitalise political life in the country.
While the US Constitution does not prohibit the formation of new political parties, the structure of the American political system heavily favours the two main parties — making it extremely difficult for smaller or newer movements to gain lasting traction.
