Tesla CEO Elon Musk discussed the potential to significantly reduce federal spending by $2 trillion through the “Department of Government Efficiency” (DOGE), a new initiative he is leading. Speaking to political strategist Mark Penn on Wednesday during a live interview on his social platform X, Musk expressed optimism about achieving this ambitious goal.
“We’re aiming for $2 trillion in cuts—that would be the best-case scenario,” Musk explained. He added that targeting such a high figure could realistically lead to at least $1 trillion in savings. Musk emphasized that cutting the budget deficit from $2 trillion to $1 trillion could stimulate the economy by aligning the growth of goods and services with increases in the money supply, potentially avoiding inflation.
Musk, who had previously advocated for a minimum of $2 trillion in federal spending cuts during the 2024 campaign, faced some skepticism from experts. Nonetheless, he remains a major advocate for reducing government expenditure, which he believes is rife with inefficiencies.
During the interview, Musk remarked on the ease of identifying potential savings, describing the government as “a target-rich environment for saving money.” He likened finding areas to cut costs to being in a room full of targets where “you can close your eyes, and you can’t miss.”
The initiative to streamline government operations, known as DOGE, was announced by then-President-elect Trump in November. It is co-led by Musk and former GOP presidential candidate Vivek Ramaswamy, focusing on eliminating excessive regulations, cutting wasteful expenditures, and restructuring federal agencies.
Leave a Reply
You must be logged in to post a comment.