Musk Counters Biden: 'A Recession Is Inevitable at Some Point'
Elon Musk. (Dimitrios Kambouris/Getty Images for The Met Museum/Vogue)
By Luca Cacciatore | Tuesday, 21 June 2022 06:24 PM
In a conversation on Tuesday at the Qatar Economic Forum, billionaire Elon Musk broke with President Joe Biden's claim last week that a recession in the U.S. economy is ''not inevitable,'' Mediaite reported.
''Joe Biden has just come out and said that a recession in America is not inevitable. How do you feel about the economy?'' Bloomberg News Editor-in-Chief John Micklethwait asked the CEO of Tesla and SpaceX.
''A recession is inevitable at some point,'' Musk responded. ''As to whether there is a recession in the near term, that is more likely than not.''
Musk's alternative analysis of the U.S. economy appears far less hopeful than the one outlined by Biden in an interview last week with The Associated Press.
''First of all, it's not inevitable,'' the president said concerning an imminent recession. ''Secondly, we're in a stronger position than any nation in the world to overcome this inflation.''
Biden also denied that his administration's energy policies or historic spending were to blame for skyrocketing inflation.
''If it's my fault, why is it the case in every other major industrial country in the world that inflation is higher?'' Biden said. ''You ask yourself that? I'm not being a wiseguy.''
Micklethwait also asked Musk on Tuesday if he would endorse Donald Trump in 2024 if the former president decides to run again.
''I'm still undecided at this point,'' he replied.
The billionaire had just recently announced he voted Republican the first time last week, casting his ballot for Rep. Mayra Flores in the special election in Texas' 34th Congressional District.
''Massive red wave in 2022,'' Musk added in his Twitter post.