Musk: AI could solve the US debt crisis within three years

Jinse Finance reported that Musk, in a conversation released on Sunday with investor and podcast host Nikhil Kamath, said that the only way for the United States to escape its deepening fiscal predicament is through productivity driven by AI and robotics. Musk stated that this is almost the only solution to the US debt crisis. He added that this will likely lead to significant deflation. According to data from the US Treasury Department, as of November 26, the US national debt had reached $38.34 trillion, more than double what it was a decade ago. Musk indicated that AI has not yet sufficiently boosted productivity to allow economic output to outpace inflation, but this is about to change. He said that within three years or even less, his judgment is that the output of goods and services will surpass the rate of inflation. Musk stated that advances in AI and robotics will bring humanity to a stage where "work becomes optional," which could be achieved within the next twenty years. Musk described this outcome as "universal high income," meaning a world with extremely high productivity and an abundance of goods and services, where people can meet their basic needs without having to work.