Billionaire entrepreneur Elon Musk warns that the US is approaching de facto bankruptcy due to its soaring $37 trillion debt. He highlights that interest payments now consume a quarter of all tax revenue, signaling dire financial instability. Financial analyst Peter Schiff agrees, stating that the country is already bankrupt. The video explores the critical risks of mounting national debt, unsustainable fiscal policies, and the potential economic consequences if urgent debt management measures are not implemented.