Tesla CEO Elon Musk, who has seemingly become President-elect Donald Trump’s right hand man, and one of the leaders of the new advisory body called the Department of Government Efficiency, or DOGE, said making $2 trillion in federal spending cuts is the best case scenario. However, he also appears to suggest that number is unrealistic.
“I think if we try for $2 trillion, we’ve got a good shot at $1 trillion,” Musk, who owns the social media platform X, told political strategist Mark Penn.
Musk had previously called for $2 trillion in cuts from a federal budget of $7 trillion, which drew some criticism.
Musk also remarked on inflation, which was a leading issue in the 2024 presidential election. He said if the federal government can cut the budget deficit in half, so that the output of goods and services can keep pace with the increase in the money supply, there will be no inflation.
The billionaire reiterated that he believes there is an abundance of government waste, calling it a target rich environment. However, skeptics, such as the magazine The New Republic, are saying that Elon Musk is backtracking on his biggest promise about DOGE.
