Mint Quick Edit: Elon Musk’s new ‘America Party’ has spotted a gap in US politics

This is what Musk had threatened after his falling-out with Republican US President Donald Trump over the latter’s One Big Beautiful Bill, which was passed by American lawmakers despite Musk’s fierce objections to the huge overload of public debt it would result in.

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This criticism is valid. Over time, it could lead to the US inflating its debt away, even practising financial repression. It’s also true that Musk’s own business interests are hurt by the legislation’s withdrawal of clean-energy incentives. 

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Tesla, his electric car company, has been doing poorly even with state support. Musk himself can’t be president of the US as he was not born there,  but the country is arguably in need of a political voice for fiscal responsibility. 

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The billionaire seems keen to rally Republicans who may privately be alarmed by Trump’s  governance. Whether he is the ideal leader of such a rebellion on the right is another matter. The wealthy assuming political power is common in America, but Musk’s agenda will be under close scrutiny.