By Nathan Layne and Costas Pitas
(SANGGRALOKA) – Tech tycoon Elon Musk, who was selected by U.S. President Donald Trump to reduce governmental size, stated on Thursday that he aims to complete the majority of the tasks required to slash $1 trillion from federal expenditures before his term concludes within just 64 days.
Musk informed Fox News’ program “Special Report with Brett Baier” that he believed his Department of Government Efficiency could identify $1 trillion in savings, thereby reducing the present overall federal expenditure from approximately $7 trillion to around $6 trillion.
Musk, who tops the list as the wealthiest individual globally, has been appointed by the White House as a “special government employee.” This designation limits his service to a maximum of 130 days. Consequently, his tenure heading up the DOGE initiative might conclude by late May.
“When questioned by Baier regarding my term and the pace at which I anticipate meeting our cost-reduction objective, I mentioned that I believe we will manage to cut down the deficit by around a trillion dollars mostly within the specified timeframe,” Musk stated.
“Given the inefficiency of the government and the significant amount of waste and fraud present, we believe that cutting down expenses by 15% should not impact any essential public services,” Musk stated.
As of March 24, DOGE claims to have saved U.S. taxpayers approximately $115 billion through measures such as cutting down the workforce, selling assets, and canceling contracts.
Nevertheless, the savings amount posted on the DOGE site lacks verification, and its computations have been marred by mistakes and revisions. Financial analysts indicate that Musk won’t be able to achieve his objective without altering entitlement programs such as Social Security, an area where Trump has pledged not to make cuts.
This interview was notable as it represented the initial occasion where Musk and key members of his leadership team from DOGE sat down with journalists to discuss their projects. Joining Musk were seven additional representatives from DOGE, among them being Steve Davis, who serves as the president of Musk’s underground construction venture, The Boring Company, along with Joe Gebbia, one of the founders of Airbnb.
“Unless this effort proves successful, the vessel of America might founder. This is precisely why we’re undertaking it,” stated Musk, who additionally leads electric vehicle manufacturer Tesla as its CEO.
Musk’s part in reducing the size of the federal workforce and cutting budgets for various government agencies has faced significant political criticism recently. This scrutiny coincides with incidents of vandalism targeting Tesla vehicles and dealerships throughout the nation.
(Reported by Nathan Layne from New York; Edited by Ross Colvin, Jamie Freed, and Leslie Adler)