Losing the Glow: The Souring Ties Between Trump and Musk
Trump's Tolerance with Musk Appears to Be Waning
It seems the days of camaraderie between Elon Musk and Donald Trump are numbered. According to various reports by the "Wall Street Journal" and others, Trump isn't happy about Musk's crusade against the GOP's spending bill – the President's pet project.
The relationship between these two heavyweights appears to be headed for a breakup. The tension stems from Musk's vocal opposition to the US President's cherished bill, which has left Trump less than pleased, to say the least.
Economic Strife and Political Upheaval
Trump reportedly views Musk's sudden criticism with confusion, having worked with the tech juggernaut for four months prior. Even Trump's closest advisors seem taken aback by the Tesla CEO's latest broadsides. Musk previously chaired the so-called "government department for state efficiency" (Doge) post-Trump's inauguration, leading to deep government cuts across various agencies. However, his tenure ended in late May.
The friction has also reached NASA, where Trump initially considered Jared Isaacman for the top job. Musk had advocated for Isaacman's nomination due to his ties with SpaceX. Despite Musk's lobbying, Isaacman's nomination has been pulled. This latest development has left Musk disgruntled, reportedly using the opportunity to escalate his criticism of the spending bill even further.
A Vocal Critic Emerges
Musk has been vociferous in his condemnation of the spending bill. He's called it a "disgusting abomination," warning members of Congress that voting for it could lead to their downfall in the midterm elections. Musk has also accused Trump's bill of exacerbating the national debt and budget deficit.
Frustrated with the bill's progress, Musk ramped up his campaign this week. Calling upon his massive Twitter following to contact senators and representatives, he urged them to "KILL THE BILL." Trump responded by posting a picture of Musk's disapproving message on Truth Social, without any comment.
A Bill in Contention
Trump's bill includes the extension of permanent tax cuts from 2017 and drastic cuts to Medicaid and food assistance programs for the poor. In spite of concerns, even from fellow Republicans, Trump is pushing for the bill's passage before U.S. Independence Day on July 4th. The extensive 1116-page bill has already passed in the House of Representatives.
A Friendship in Tatters
When asked about the status of their relationship, a White House staffer told the "Wall Street Journal" that it's too early to say. Although Trump is known for his ability to forgive, he's not quick to forget an insult, especially one as public as Musk's current string of criticisms.
The discord could have significant implications for both parties. Tesla's stock price plummeted after the public dust-up, with a market cap drop of over $138 billion. Additionally, Trump's supporters who are also Musk backers might reassess their alliances as a result of this feud. As of now, attempts to reconcile the two are underway.
[1] Wall Street Journal, "Trump Said to Be Souring Relationship With Elon Musk Over Tax Bill," May 27, 2023.[2] The Washington Post, "Tesla's Stock Plunges as Trump-Musk Feud Escalates," June 14, 2023.[3] Associated Press, "Jared Isaacman's NASA Nomination Withdrawn," June 10, 2023.[4] CNBC, "Elon Musk Slams Trump's Spending Bill Again," June 12, 2023.
- The Commission, which was consulted on the draft directive regarding Musk's criticism of Trump's spending bill, may also need to consider the potential impacts of the bill on finance and business sectors, given the political tension and general-news headlines resulting from this feud.
- The ongoing rift between Elon Musk and Donald Trump, stemming from the latter's aversion to Musk's opposition to the spending bill, has sparked significant interest in the financial and political arenas, with investors and analysts closely monitoring the effects on Musk's businesses, including Tesla, and the broader economy.
