The following report is by Fortune:
The richest man on earth proposed a Department of Government Efficiency (DOGE) in the run-up to the presidential election in November, and has since been instated as one of the project’s co-leads.
Musk initially pledged to cut some $2 trillion from the federal budget, alongside his DOGE partner, politician Vivek Ramaswamy.
But now the Tesla boss suggests the savings may not be as deep as he had previously hoped for.
“We’ll try for $2 trillion. I think that’s like the best-case outcome,” Musk told Mark Penn, chairman and CEO of marketing business Stagwell, in a live interview on X.
“I think if we try for $2 trillion, we’ve got a good shot at getting one.
“In terms of saving money in the government, well, as you know, it’s a very target-rich environment for saving money. It was like, ‘Where will you find places to save money?’ I’m like, ‘It’s like being in a room full of targets,’” Musk, a key Trump ally, continued.
How will Musk’s DOGE aim to save money?
Among Musk’s top to-do list items is getting federal staff back in the office. Office utilization aside, the X owner has outright said that a return-to-office mandate will help cut headcount.
Writing in the Wall Street Journal alongside Ramaswamy in November, the billionaire outlined: “Requiring federal employees to come to the office five days a week would result in a wave of voluntary terminations that we welcome: If federal employees don’t want to show up, American taxpayers shouldn’t pay them for the COVID-era privilege of staying home.”
Other savings will come through audits of procurement processes, the pair added in the op-ed, as well as scrutiny of expenditures and where they are being allocated.
“You could close your eyes, and you can’t miss,” Musk added in the interview with Penn this week.
The man worth $426 billion, per Bloomberg, continued to outline the many ways in which the current federal authorities misuse funds, though he didn’t expand on why the apparent raft of opportunities for efficiency translates into a lower-than-expected cut to the budget deficit.
“There’s just a lot of waste in government, especially [in] the federal government you’ve just got a situation where the checks never bounce, like they’ve got the infinite money computer,” Musk said.
“The people that spend the money … it’s not their money. It’s very hard for people to care about spending someone else’s money. Actually, I know people in the government who do care about—just as a matter of principle—and they try to do so, and they can’t, the system prevents them from doing so,” the SpaceX founder continued.
In a familiar situation for many business leaders, Musk alleges staff are told to spend all of their budgets toward the end of the cycle to avoid having their funds cut in future allocation rounds.
“It’s actually sort of a perverse incentive to waste money,” he added.
Potential for a ‘golden age’
Perhaps unsurprisingly, Musk is feeling good about economic prospects under another Trump administration.
The billionaire has seen his personal wealth swell, courtesy of the incoming president-elect. According to Bloomberg, before Trump’s return to the Oval Office, Musk was worth $264 billion.
Since then, that figure has soared to an eye-watering $426 billion—an increase of more than 60%.
His fortunes have been boosted by Trump’s reimagined outlook on EVs—which Musk, of course, has a vested interest in as Tesla’s CEO—and a wider market rally.
Some of this has been prompted by Wall Street’s anticipation of a regulation-lite approach under Trump, with JPMorgan CEO Jamie Dimon saying bankers are “dancing in the street.”
Musk is similarly looking forward to a more hands-off approach from the White House, adding in the interview Wednesday: “I’m actually pretty optimistic about the next four or five years. I think we have the potential for a golden age.
“It’s very important to get rid of the mountain of regulations that are holding things back … There are good regulations, but there’s just so much that we can’t get anything done.”
Musk isn’t the only Republican feeling sunny about the economy.
A December Gallup survey of more than 2,000 voters revealed that 88% of Republicans expect the stock market to rise in 2025, and 87% expect inflation to continue at a reasonable rate.
A further 78% predict general economic prosperity, compared with 40% of independent voters and 15% of Democrats.
AUTHOR COMMENTARY
I mention this because as we are less than two weeks away from Trump’s inauguration, we have seen the Trump campaign rescind and backtrack on a number of campaign promises made – which is no surprise to WinePress readers – and this is just another one of them. Musk and Vivek were touted as being two people who cut out all this excess waste and government spending, but that too was just them and Trump blowing hot air, per usual.
SEE:
- Flip-Flop: Trump’s Team Demands Continuing Aid To Ukraine But Will Raise NATO Spending To 5%
- Flip-Flop: Trump’s New Love For H-1B Visas Completely Contradicts Campaign Statements, Cheap Labor Continues As Usual To Pacify Musk
- Uniparty: Trump National Security Advisor Mike Waltz Says ‘We Are Hand In Glove’ With Biden Admin Concerning ‘Our Adversaries’
- Elon Musk Tweets ‘Novus Ordo Seclorum’ After Donald Trump Wins Reelection. MAGA Is The Pied Piper
- ‘Fear Ye Not Me? Saith The Lord.’ Americans Are Hysterical Over Election Outcome But Have No Fear Of God. BlackRock Says ‘It Doesn’t Matter’
While I am certainly no fan of big government, the reality is that the U.S. government and public sector is so gargantuan that if you make too many cuts it would, I presume, be detrimental to the economy, considering that this country’s GDP also counts government and military spending. Remove those two data points and the real GDP is somewhere in no man’s land…
Proverbs 28:1 The wicked flee when no man pursueth: but the righteous are bold as a lion.
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
The WinePress needs your support! If God has laid it on your heart to want to contribute, please prayerfully consider donating to this ministry. If you cannot gift a monetary donation, then please donate your fervent prayers to keep this ministry going! Thank you and may God bless you.
There are certainly a number of particulars like that to take into consideration. That is a nice level to carry up. I offer the ideas above as normal inspiration however clearly there are questions like the one you deliver up the place crucial thing shall be working in trustworthy good faith. I don?t know if greatest practices have emerged around things like that, but I am certain that your job is clearly recognized as a fair game. Each girls and boys feel the influence of just a moment’s pleasure, for the remainder of their lives.
whoah this weblog is magnificent i like studying your posts. Stay up the good work! You recognize, many individuals are searching around for this information, you could help them greatly.
Merely wanna input on few general things, The website pattern is perfect, the subject matter is really fantastic. “Drop the question what tomorrow may bring, and count as profit every day that fate allows you.” by Horace.
Some truly select articles on this site, saved to fav.
Thanks a lot for providing individuals with an extraordinarily memorable chance to check tips from this web site. It’s always very terrific and also packed with a good time for me and my office acquaintances to search your website more than three times every week to read through the new things you have got. And indeed, I am just certainly amazed considering the magnificent information served by you. Some 4 points in this article are unequivocally the most suitable we have all had.
Exactly what I was looking for, thankyou for putting up.
Good info. Lucky me I reach on your website by accident, I bookmarked it.
What i don’t understood is if truth be told how you are now not really a lot more smartly-preferred than you might be now. You’re so intelligent. You realize therefore considerably in relation to this subject, produced me for my part imagine it from numerous numerous angles. Its like women and men don’t seem to be fascinated until it’s one thing to do with Woman gaga! Your own stuffs outstanding. Always maintain it up!
You made some nice points there. I looked on the internet for the subject matter and found most individuals will approve with your site.
Terrific work! That is the type of information that are meant to be shared around the net. Shame on Google for now not positioning this publish upper! Come on over and talk over with my website . Thanks =)
I like this website very much so much wonderful info .
Hello.This article was extremely remarkable, particularly because I was looking for thoughts on this issue last Thursday.
Thanks for sharing excellent informations. Your website is very cool. I’m impressed by the details that you have on this site. It reveals how nicely you perceive this subject. Bookmarked this web page, will come back for more articles. You, my pal, ROCK! I found just the information I already searched everywhere and simply could not come across. What a perfect site.
Virtually all of what you say is astonishingly legitimate and it makes me wonder why I had not looked at this with this light previously. Your piece truly did switch the light on for me as far as this particular subject matter goes. Nevertheless there is 1 factor I am not really too comfortable with so whilst I attempt to reconcile that with the actual central theme of the issue, permit me see exactly what all the rest of the readers have to point out.Very well done.
I went over this website and I believe you have a lot of wonderful info, saved to bookmarks (:.
Right now it sounds like WordPress is the best blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?
F*ckin’ amazing things here. I am very happy to look your article. Thanks a lot and i am taking a look ahead to touch you. Will you please drop me a e-mail?
You have brought up a very good points, appreciate it for the post.
Wow, marvelous blog layout! How long have you been blogging for? you made blogging look easy. The overall look of your website is wonderful, as well as the content!
This really answered my problem, thank you!
I do agree with all the ideas you have presented in your post. They’re very convincing and will certainly work. Still, the posts are too short for newbies. Could you please extend them a bit from next time? Thanks for the post.
Hi there! This post couldn’t be written any better! Reading through this post reminds me of my previous room mate! He always kept talking about this. I will forward this article to him. Pretty sure he will have a good read. Thank you for sharing!
I really like reading through and I believe this website got some really useful stuff on it! .
Thanks , I’ve just been searching for info about this topic for ages and yours is the greatest I have discovered so far. But, what about the bottom line? Are you sure about the source?
Dead written articles, Really enjoyed reading through.
Unquestionably believe that which you stated. Your favourite justification seemed to be on the net the simplest factor to have in mind of. I say to you, I definitely get annoyed while people think about worries that they plainly don’t recognize about. You controlled to hit the nail upon the highest as smartly as outlined out the whole thing with no need side effect , people can take a signal. Will probably be back to get more. Thanks
Thank you for some other informative web site. Where else may I get that kind of information written in such an ideal manner? I have a project that I’m simply now working on, and I have been at the glance out for such information.
Hey very cool web site!! Man .. Beautiful .. Amazing .. I’ll bookmark your blog and take the feeds also?KI’m glad to search out numerous helpful information here within the submit, we need work out extra techniques on this regard, thank you for sharing. . . . . .
Wow, awesome weblog structure! How lengthy have you been running a blog for? you made running a blog look easy. The full look of your site is magnificent, as smartly as the content material!
I found your weblog website on google and examine just a few of your early posts. Continue to keep up the excellent operate. I just additional up your RSS feed to my MSN Information Reader. Looking for ahead to studying more from you later on!…
That is very interesting, You are an overly professional blogger. I have joined your rss feed and look forward to searching for extra of your great post. Also, I’ve shared your website in my social networks!
I enjoy the efforts you have put in this, regards for all the great posts.
An interesting discussion is worth comment. I think that you should write more on this topic, it might not be a taboo subject but generally people are not enough to speak on such topics. To the next. Cheers
Hi my friend! I want to say that this article is amazing, great written and include almost all important infos. I would like to see more posts like this .
You have remarked very interesting details! ps decent web site. “Wisdom is the supreme part of happiness.” by Sophocles.
I went over this website and I conceive you have a lot of great info, bookmarked (:.
Someone essentially lend a hand to make significantly posts I would state. That is the very first time I frequented your website page and thus far? I surprised with the analysis you made to create this particular submit extraordinary. Wonderful process!
You have noted very interesting points! ps decent web site.
I have to express my thanks to you just for bailing me out of such a dilemma. After checking throughout the world-wide-web and finding views which were not helpful, I was thinking my life was done. Being alive devoid of the strategies to the difficulties you have solved all through your entire article is a critical case, and the ones that could have adversely damaged my entire career if I hadn’t noticed the blog. Your knowledge and kindness in handling the whole lot was priceless. I’m not sure what I would have done if I had not come upon such a stuff like this. I can at this point look forward to my future. Thanks for your time so much for your reliable and result oriented help. I will not hesitate to refer your site to anybody who would like support on this issue.
Hello my friend! I wish to say that this article is awesome, nice written and include approximately all vital infos. I’d like to see more posts like this.
Your style is so unique compared to many other people. Thank you for publishing when you have the opportunity,Guess I will just make this bookmarked.2
I couldn’t resist commenting
Hello my loved one! I wish to say that this post is awesome, nice written and include approximately all significant infos. I?¦d like to look more posts like this .
Hello, Neat post. There is a problem with your web site in web explorer, would test thisK IE nonetheless is the marketplace chief and a good portion of other people will leave out your great writing because of this problem.
Fantastic site you have here but I was curious if you knew of any message boards that cover the same topics talked about in this article? I’d really like to be a part of community where I can get suggestions from other experienced people that share the same interest. If you have any recommendations, please let me know. Thank you!
I haven’t checked in here for some time since I thought it was getting boring, but the last few posts are good quality so I guess I will add you back to my everyday bloglist. You deserve it my friend 🙂
Attractive section of content. I just stumbled upon your website and in accession capital to assert that I get in fact enjoyed account your blog posts. Any way I will be subscribing to your augment and even I achievement you access consistently quickly.
You really make it appear really easy together with your presentation but I to find this matter to be actually something that I feel I’d by no means understand. It kind of feels too complicated and extremely broad for me. I’m looking forward in your next publish, I?¦ll try to get the grasp of it!
I like the valuable info you supply in your articles. I will bookmark your blog and check once more right here regularly. I’m somewhat certain I will be told plenty of new stuff proper here! Best of luck for the next!
Utterly composed articles, Really enjoyed reading through.