Tesla Motors (TSLA.US) CEO Elon Musk recently stated in an interview that artificial intelligence (AI) is the only viable solution to the United States' mounting debt crisis. During a conversation with investor and podcast host Nikhil Kamath last Sunday, Musk emphasized that productivity gains driven by AI and robotics represent the sole path forward for the country's worsening fiscal predicament.

"This is almost the only way to resolve the U.S. debt crisis," Musk said, adding that the technology "will likely have a significant deflationary effect." According to U.S. Treasury data, the national debt has reached $38.34 trillion as of November 26, more than doubling over the past decade.

Musk noted that while AI's current impact on productivity has not yet outpaced inflation, this dynamic is set to change. "I predict that within three years or less, the growth rate of goods and services output will exceed inflation," he added.

Looking further ahead, Musk forecasted that advancements in AI and robotics will usher in an era where "work becomes optional" within the next two decades. He described this future as an "age of universal high income"—a world of extreme productivity and abundance where people no longer need to work to meet basic needs.

In recent weeks, Musk has repeatedly outlined his vision of AI reshaping the global economy. At Tesla's shareholder meeting last month, he suggested that the company's Optimus humanoid robot could eliminate poverty and reduce the need for human labor. "People often talk about eradicating poverty and ensuring universal access to quality healthcare," Musk said. "There’s really only one way to achieve this, and that’s through Optimus."

During the U.S.-Saudi Investment Forum last month, Musk also claimed that in an AI-dominated future, money would "no longer matter." "Constraints like electricity and resources will still exist," he said, "but at some point, currency will become irrelevant."

The idea of technology-driven productivity leading to shorter workweeks is not new. Economist John Maynard Keynes predicted in 1930 that technological progress would enable future generations to work just 15 hours per week.

Other tech leaders have also highlighted AI’s potential to transform the global economy. Google (GOOGL.US) CEO Sundar Pichai recently stated that AI holds "the potential to create extraordinary value" but will also trigger "societal changes." "It will create new opportunities," Pichai said, "but it will also reshape certain jobs, requiring adaptation. Some roles may be displaced, so society as a whole needs to address this."

Investor Vinod Khosla suggested in September that AI will eventually handle 80% of tasks in 80% of jobs, reducing the value of human labor and increasing leisure time. To prevent rising inequality, Khosla argued that governments should implement universal basic income policies.

However, not everyone believes AI’s benefits will be evenly distributed. Geoffrey Hinton, often called the "godfather of AI," warned that while AI will generate "massive profit growth," most wealth will flow to a small elite. "It will make a few people extremely rich while impoverishing many others," Hinton said in September, adding that AI could lead to "mass unemployment." He stressed that the issue lies not with the technology itself but with the "capitalist system" that determines who benefits from AI-generated value.