Musk eyes US$1 trillion US spending cut, walking back earlier goal
Trump ally Musk admits his pledge to cut US$2 trillion in spending probably isn’t realistic
Elon Musk, who has been tasked by President-elect Donald Trump to lead a government efficiency commission, has acknowledged his goal of slashing federal spending would be tricky – now eyeing US$1 trillion in cuts, half his original goal.
On Trump’s campaign trail, Musk vowed to lower federal spending by US$2 trillion, a whopping 30 per cent cut from 2024.
But the world’s richest person said in a discussion streamed online Wednesday evening: “We’ll try for US$2 trillion. I think that’s like the best case outcome”.
“If we try for US$2 trillion, we’ve got a good shot at getting one,” he added, while speaking with political strategist Mark Penn.
Musk, who is one of Trump’s closest allies, was named head of a newly created Department of Government Efficiency – dubbed DOGE – along with businessman Vivek Ramaswamy after last year’s election. Neither of them has experience in government.
Although the office has an advisory role, Musk’s star power and strong influence in Trump’s inner circle bring political clout.
