Tesla CEO Elon Musk said Wednesday that the best-case scenario would be to cut federal spending by $2 trillion through the Department of Government Efficiency (DOGE), which he co-leads.
“I think we're going to strive for $2 trillion. I think that's the best outcome,” Musk told political strategist Mark Penn. in an interview It will be streamed on Social Platform X.
“But I think there needs to be some excess. If we strive for $2 trillion, I think we have a good chance of getting $1,” he continued. If it reaches $1 trillion and the economy is freed up for further growth, and the production of goods and services keeps pace with the increase in the money supply, there will be no inflation. I think that would be a great outcome. ”
Musk previously called for cutting federal spending by “at least” $2 trillion, but he was met with some skepticism from experts during the 2024 campaign, when he was President-elect Trump's most prominent supporter. I was being looked at the same way.
The billionaire CEO of Tesla and SpaceX also emphasized in an interview Wednesday that he believes there is a lot of government waste, when asked if he had identified any cuts yet. The government said it is “an affluent environment as a goal to save money.”
“Everywhere you look, people think, 'Where can I save money?'” Musk said. “It's like being in a room full of targets. Even if you close your eyes. , you can't miss it.''
President Trump announced in November that Musk and former Republican presidential primary candidate Vivek Ramaswami would be appointed to lead DOGE, which aims to “cut excessive regulation and cut wasteful spending” and reorganize federal agencies. did.
Mr. Musk and Mr. Trump appear to have a close relationship, but Maggie Haberman of the New York Times said this week that Mr. Musk has complained that there are “a lot” of tech billionaires.
Democrats also seem to be leaning toward the billionaire's influence over President Trump, questioning who is actually in charge. Despite speculation that Musk is running things, the president-elect and his team insist he remains the leader of the Republican Party.
