Elon Musk, co-leading the Department of Government Efficiency under President-elect Donald Trump, has revised his ambitious claim to cut the federal budget. He described the $2 trillion target as “the best-case outcome.”In an interview on X, Musk stated that halving the federal budget deficit to $1 trillion would still be an “epic outcome,” citing potential economic growth and inflation control as benefits. Musk emphasized waste in government spending but offered no specifics. DOGE, co-led by entrepreneur Vivek Ramaswamy, lacks direct authority but aims to recommend budget and regulatory reforms to the White House. Critics question the feasibility of Musk’s $2 trillion target, but the initiative has gained bipartisan support.
Category
🗞
NewsTranscript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Elon Musk, who is co-leading the Department of Government Efficiency under President-Elect
00:05Donald Trump, has revised his ambitious claim to cut the federal budget.
00:09He described the $2 trillion target as the best-case outcome in an interview on X.
00:15Musk stated that halving the federal budget deficit to $1 trillion would still be an epic outcome,
00:20citing potential economic growth and inflation control as benefits.
00:24Musk emphasized wasted government spending but offered no specifics.
00:28Doge, co-led by entrepreneur Vivek Ramaswamy,
00:31lacks direct authority but aims to recommend budget and regulatory reforms to the White House.
00:36Critics question the feasibility of Musk's $2 trillion target,
00:40but the initiative has gained bipartisan support.