Elon Musk said in an online post that President Donald Trump has lifted the U.S. federal budget deficit to about $2.5 trillion a year, up from what he called an “already insane” $2 trillion under President Joe Biden, and warned the increase could bankrupt the country. The Tesla and SpaceX chief added that the swelling deficit is the reason he has recently turned from occasional ally to outspoken critic of Trump. Musk’s remarks are among his sharpest public attacks on the president and underline growing tensions between the two high-profile figures. Musk’s comments came hours after Trump announced plans to form a new political organization, the America Party, ahead of the 2026 mid-term elections. Representatives for the White House and for Musk did not immediately respond to requests for comment.