"Elon Musk reiterated that the Department of Government Efficiency will try to cut $2 trillion from federal spending, but he said they may not reach that goal.
"I think if we try for $2 trillion, we've got a good shot at getting one," Musk said Wednesday in a conversation with Mark Penn, chairman and chief executive of ad company Stagwell, that was livestreamed on Musk's social-media platform X.
Musk said the $2 trillion goal is "like the best-case outcome." He also said the group should set an ambitious target to help them get results.
President-elect Donald Trump tapped Musk and Vivek Ramaswamy to co-lead the Department of Government Efficiency, or DOGE, an effort to cut federal spending and regulations. The entrepreneurs have proposed ideas such as reducing the federal workforce, requiring federal employees to return to the office five days a week, and removing government agencies outright.
Musk previously suggested he could cut at least $2 trillion in federal spending.
He voiced confidence in his efforts. "It's a very target-rich environment for saving money," he said.
"It's very, very hard for people to care about spending someone else's money," Musk said about government spending.
Musk oversees six companies, including electric-vehicle maker Tesla and space-exploration company SpaceX. Last year, Musk dove into politics, contributing roughly a quarter of a billion dollars to Trump's election efforts." [1]
1. U.S. News: Musk Says Goal to Cut $2 Trillion 'Best Case'. Corse, Alexa. Wall Street Journal, Eastern edition; New York, N.Y.. 10 Jan 2025: A6.
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