Treasury Secretary Scott Bessent Calls Elon Musk a "Loser" and Urges Him to Quit Politics
- Why Did Scott Bessent Call Elon Musk a "Loser"?
- What Sparked the Musk-Trump Feud?
- What’s the America Party’s Strategy?
- How Are Musk’s Businesses Affected?
- FAQ: Musk vs. Bessent and the America Party
In a fiery televised interview, Treasury Secretary Scott Bessent didn’t hold back, labeling Elon Musk a "loser" and criticizing his foray into politics with the newly filed "America Party." Bessent argued Musk lacks public support and should focus on running Tesla and SpaceX instead. The tension stems from Musk’s opposition to Trump’s "Big Beautiful Bill Act," which Musk claims undermines his DOGE efficiency project. Meanwhile, Trump’s camp hints at retaliatory measures, including cutting federal subsidies to Musk’s companies. With Musk’s America Party aiming to disrupt the two-party system, the political drama is just heating up.
Why Did Scott Bessent Call Elon Musk a "Loser"?
During a live CNN interview, Treasury Secretary Scott Bessent bluntly stated, "Most of America thinks he’s a loser," referring to Elon Musk’s political ambitions. Bessent’s critique followed Musk’s unofficial launch of the "America Party," filed with the Federal Election Commission last Saturday. The Treasury Secretary emphasized Musk’s lack of electoral appeal, noting his board members likely want him "back at the helm of his companies." This isn’t just casual criticism—it’s a direct challenge to Musk’s credibility. Bessent praised Musk’s DOGE (Department of Efficiency) goals but dismissed his personal political viability. The feud traces back to May, when Musk resigned from a special government role after clashing with TRUMP over policy. While Bessent initially kept diplomacy intact, this interview marks a gloves-off moment.
What Sparked the Musk-Trump Feud?
The rift centers on the "One Big Beautiful Bill," signed by Trump last Friday. Musk blasted the legislation, claiming it WOULD balloon the national debt by $3.9 trillion over a decade (per the Federal Budget Responsibility Committee) and "mock" DOGE’s work. Republicans speculate Musk’s outrage ties to Biden-era green energy subsidies—critical for Tesla—being axed. Musk denies this, insisting his concern is fiscal responsibility. The tension turned physical in April: MAGA podcaster Steve Bannon alleged Musk "checked" Bessent during a heated meeting. Bessent neither confirmed nor denied the incident but later likened himself to a "ninja" and mocked Musk’s "Viking fantasies" on hisshow. Trump, meanwhile, floated cutting Musk’s federal subsidies and even hinted at expulsion—a stark threat given Musk’s South African origins.
What’s the America Party’s Strategy?
Musk’s America Party plans a surgical strike on Congress, targeting select House and Senate races with what he calls an "extremely concentrated force"—a nod to Epaminondas’ Greek military tactics at Leuctra. While no candidates are named yet, Musk aims to fracture the "unig-tier system" (Democrats and Republicans). His X followers endorsed the idea in a pre-announcement poll. Notably, Musk hasn’t confirmed if he’ll run himself but seeks to shift Congressional power dynamics. Analysts at BTCC suggest this mirrors crypto’s disruption of traditional finance: "It’s about pressure points, not broad coalitions," one remarked. The party’s filing makes it official, but its impact hinges on Musk’s ability to leverage his tech influence into political capital.
How Are Musk’s Businesses Affected?
Bessent’s warning—that Musk’s board wants him "focused on business, not politics"—highlights investor unease. Tesla shares dipped 2.3% post-interview (per TradingView), while SpaceX remains privately traded. The threat of losing federal subsidies looms large: Tesla received $1.5 billion in Biden-era green credits, and SpaceX relies on NASA contracts. CoinGlass data shows crypto markets shrugged off the news, with dogecoin (Musk’s favored meme coin) holding steady at $0.12. Still, the political gambit risks alienating both parties. As one BTCC analyst quipped, "Musk’s playing 4D chess, but the board might prefer checkers."
FAQ: Musk vs. Bessent and the America Party
What did Scott Bessent say about Elon Musk?
Bessent called Musk a "loser" on CNN, stating most Americans don’t support his political ambitions and urging him to focus on Tesla and SpaceX.
Why does Musk oppose the "Big Beautiful Bill"?
Musk claims the bill will add $3.9 trillion to national debt and undermine his DOGE project. Republicans argue he’s really upset over lost green energy subsidies.
Could Trump expel Elon Musk from the U.S.?
Unlikely but not impossible. Musk is a naturalized citizen, and expulsion would require legal grounds. Trump’s threat seems more rhetorical—for now.
What’s the America Party’s goal?
To break the two-party system by targeting key Congressional races, though Musk hasn’t clarified if he’ll run personally.
How did markets react?
Tesla stock dipped slightly, while crypto (including Dogecoin) showed no major movement, per CoinGlass and TradingView data.
