Musk: AI can solve the U.S. debt crisis within three years.

Golden Finance reported that in a conversation released on Sunday with investor and podcast host Nikhil Kamath, Musk stated that the only way for the U.S. to escape its deepening fiscal crisis is through productivity driven by AI and Bots. Musk said this is almost the only way to solve the U.S. debt crisis. He added that this is likely to bring significant deflation. According to data from the U.S. Treasury, as of November 26, the national debt of the United States has reached $38.34 trillion, more than double what it was ten years ago. Musk stated that AI has not yet sufficiently enhanced productivity to allow economic output to exceed the rate of inflation, but this is about to change. He said that within three years or less, his judgment is that the output of goods and services will exceed the rate of inflation. Musk stated that advancements in AI and Bots technology will bring humanity to a stage where “work becomes optional,” potentially within the next twenty years. Musk described this outcome as “universal high income,” which means a world of extremely high productivity, with an abundance of goods and services, where people can meet their basic needs without having to work.