Tech billionaire Elon Musk made headlines with bold claims of potential budget cuts on Sunday, saying that he could slash at least $2 trillion from the federal budget if former President Donald Trump wins the upcoming election.
Musk laid out his vision during a rally for Trump at New York’s Madison Square Garden , emphasising the need to curb government spending .
"Your money is being wasted," Musk said to an enthusiastic crowd for Trump, adding, "We’re going to get the government off your back and out of your pocketbook." Musk’s proposal aligns with Trump’s campaign rhetoric of reducing federal expenditures and shrinking government intervention.
Trump has proposed that Musk, currently the world’s richest individual and a substantial donor to the Trump campaign, lead a new governmental body called the "Department of Government Efficiency," or DOGE—an acronym that also nods to the cryptocurrency Musk famously backs.
This initiative would focus on cutting wasteful federal spending, with Musk set to oversee its efforts if Trump is elected.
Entering the stage to chants of "Elon," Musk was met with a warm reception at the rally, with Trump supporters cheering his pledge to rein in government costs.
"This is the kind of positive energy that America is all about," Musk said, addressing the crowd. His promise to cut $2 trillion would majorly impact the federal budget, which saw outlays exceed $6.75 trillion in the 2024 fiscal year ending on September 30.
Musk’s support for Trump extends beyond budget proposals. He has leveraged his platform, X, to back Trump’s campaign efforts, and his wealth has facilitated substantial giveaways to supporters—initiatives that have stirred some legal debate.
As election day approaches, the possibility of Musk's role in a Trump administration has fueled discussions on potential government reform and the billionaire's growing influence on American politics.
Musk laid out his vision during a rally for Trump at New York’s Madison Square Garden , emphasising the need to curb government spending .
"Your money is being wasted," Musk said to an enthusiastic crowd for Trump, adding, "We’re going to get the government off your back and out of your pocketbook." Musk’s proposal aligns with Trump’s campaign rhetoric of reducing federal expenditures and shrinking government intervention.
Trump has proposed that Musk, currently the world’s richest individual and a substantial donor to the Trump campaign, lead a new governmental body called the "Department of Government Efficiency," or DOGE—an acronym that also nods to the cryptocurrency Musk famously backs.
This initiative would focus on cutting wasteful federal spending, with Musk set to oversee its efforts if Trump is elected.
Entering the stage to chants of "Elon," Musk was met with a warm reception at the rally, with Trump supporters cheering his pledge to rein in government costs.
"This is the kind of positive energy that America is all about," Musk said, addressing the crowd. His promise to cut $2 trillion would majorly impact the federal budget, which saw outlays exceed $6.75 trillion in the 2024 fiscal year ending on September 30.
Musk’s support for Trump extends beyond budget proposals. He has leveraged his platform, X, to back Trump’s campaign efforts, and his wealth has facilitated substantial giveaways to supporters—initiatives that have stirred some legal debate.
As election day approaches, the possibility of Musk's role in a Trump administration has fueled discussions on potential government reform and the billionaire's growing influence on American politics.
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