Treasury Secretary Criticizes Musk Over Political Party Launch

Treasury Secretary Scott Bessent publicly criticized Elon Musk, calling him a "loser" and suggesting he should focus on his businesses rather than politics. This remark came just a day after Musk announced the creation of his own political party, the America Party, which was filed with the Federal Election Commission.

Bessent's comments were made during a live TV interview, where he expressed his belief that Musk lacks the national support needed to lead a successful political movement. He also implied that the board members of Musk's companies would prefer him to concentrate on his business activities rather than his political endeavors.

Musk, who leads Tesla and SpaceX, has been advocating for a third political party for around two weeks. His decision to form the America Party followed a disagreement with President Trump and Republicans over the One Big Beautiful Bill Act, which Musk believes will have significant long-term financial costs and undermines the work of his now-defunct Department of Government Efficiency project (DOGE).

The tension between Bessent and Musk is not new. Musk resigned from his special government role in May after clashing with Trump. Initially, Bessent maintained a diplomatic stance, but his recent interview indicates a more confrontational approach.

Musk's opposition to the One Big Beautiful Bill Act is centered on its projected impact on the national debt, which is estimated to increase by $3.9 trillion over the next decade. Musk has criticized the bill for undermining the efforts of his DOGE team and has expressed frustration with the political landscape.

Musk's political ambitions have been met with skepticism from both Democrats and Republicans. Some Republicans believe his opposition to the bill may be more about the removal of Biden-era green energy subsidies, which have affected Tesla. Musk, however, maintains that his primary concern is the increase in federal debt.

The America Party, as described by Musk, will focus on targeting specific House and Senate races with a concentrated effort. Musk has referenced a Greek military strategy used by Epaminondas at the Battle of Leuctra to explain his approach. He has not yet named any candidates or races but has confirmed that his team has officially filed to make the party a reality.

Musk's political goals appear to be centered on breaking the "uniparty system" and changing the balance of power in Congress. He has not indicated whether he will run for office himself but has made it clear that he intends to find pressure points to influence the political landscape.