Elon Musk says DOGE probably won't find $2 trillion in federal budget cuts
Tech billionaire Elon Musk said Wednesday that his budget-cutting effort on behalf of President-elect Donald Trump would most likely not find $2 trillion in savings, backtracking on a goal he set earlier as co-head of a new advisory body, the Department of Government Efficiency, or DOGE.
Tech billionaire Elon Musk said Wednesday that his budget-cutting effort on behalf of President-elect Donald Trump would most likely not find $2 trillion in savings, backtracking on a goal he set earlier as co-head of a new advisory body, the Department of Government Efficiency, or DOGE.
Musk told political strategist Mark Penn in an interview broadcast on X that the $2 trillion figure was a “best-case outcome” and that he thought there was only a “good shot” at cutting half that.
Musk’s lowered estimate is a significant downgrade from his earlier view. At a rally for Trump at Madison Square Garden in New York on Oct. 27, Musk said he’d be able to cut the federal budget by “at least $2 trillion.”
That figure was quickly dismissed as implausible by budget experts, who said the entire discretionary budget was only $1.7 trillion. Musk hadn’t waved people off the number until Wednesday, and it has been widely cited in reports about DOGE’s plans.
Musk, along with former Republican presidential candidate Vivek Ramaswamy, is co-leading the DOGE budget-slashing effort, which Trump named in reference to an internet meme. The advisory panel has no official authority and is expected to make recommendations to the White House after Trump is sworn in for a second term.
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