Elon Musk Walks Back Vow To Find $2 Trillion In Wasteful Spending
17 hours, 34 minutes ago

Elon Musk Walks Back Vow To Find $2 Trillion In Wasteful Spending

Huff Post  

LOADING ERROR LOADING Republican budget guru Elon Musk admitted Wednesday that his vision of $2 trillion in spending cuts is not very realistic. “I think if we try for $2 trillion, we’ve got a good shot at getting one.” It’s a notable retrenchment from Musk’s prior position. On the campaign trail in October, Musk said he could find “at least $2 trillion” to cut from the federal government’s annual budget of more than $6 trillion. It’s hard to see how Musk’s budget-slashing vision, which is supposed to close the gap between taxes and spending, will fit with Republican plans to extend Trump’s 2017 tax cuts, potentially at a cost of $5 trillion over a decade, with trillions more in additional tax cuts Trump promised on the campaign trail.

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History of this topic

Musk acknowledges $2 trillion spending cut goal a long shot
Trending News
17 hours, 20 minutes ago

Musk acknowledges $2 trillion spending cut goal a long shot

The Hindu  

Elon Musk, who U.S. President-elect Donald Trump has tapped to oversee a government cost-cutting effort, acknowledged that his declared goal of cutting $2 trillion in spending from the $6.8 trillion federal budget would be a long shot. "I think if we try for 2 trillion, we've got a good shot at getting 1," Mr. Musk, the world's richest person, said …

Elon Musk is just for 'show' — and big spending cuts won't happen: conservative columnist
6 days, 14 hours ago

Elon Musk is just for 'show' — and big spending cuts won't happen: conservative columnist

Raw Story  

Elon Musk and Vivek Ramaswamy are making big claims about leading the Department of Government Efficiency, but one conservative columnist warns that it's all for show. It's all a show," wrote Dace Potas, who leads Lone Conservative, which purports to be the largest conservative student publication in America. The narrow Republican majority in Congress would mean that one or two …

Food stamps, environmental safeguards and denying Ozempic: The ways Republicans could pay for Trump’s tax cuts
1 week ago

Food stamps, environmental safeguards and denying Ozempic: The ways Republicans could pay for Trump’s tax cuts

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Donald Trump’ and his Congressional allies could add requirements to …

Yes, There Are Ways To Cut The Budget Deficit. 'DOGE' Hasn’t Found Them So Far.
1 week, 5 days ago

Yes, There Are Ways To Cut The Budget Deficit. 'DOGE' Hasn’t Found Them So Far.

Huff Post  

LOADING ERROR LOADING Tesla CEO Elon Musk posted a very simple question Dec. 7 on his X social media account: “Why are we doing this when our own country is so deeply in debt?” The object of Musk’s curiosity? As one of two co-chiefs of the still nebulous “Department of Government Efficiency” ― at this point, “DOGE” it is more …

Congress fight sent conservatives wake up call that Trump may not be on their side: report
2 weeks, 2 days ago

Congress fight sent conservatives wake up call that Trump may not be on their side: report

Raw Story  

While Elon Musk and Vivek Ramaswamy have conservatives excited about major government cuts, Donald Trump is poised to spend the money they save to fund his big promises, according to a report Tuesday. Politico wrote that 38 House Republicans' refusal to support Trump's demands in a funding bill last week — including his request to increase the debt ceiling — …

'President Musk' trends after Trump's top oligarch torpedoes federal spending deal
3 weeks ago

'President Musk' trends after Trump's top oligarch torpedoes federal spending deal

Raw Story  

Congress is careening toward a government shutdown after U.S. President-elect Trump, egged on by billionaire Elon Musk—who helped bankroll Trump's reelection campaign and is slated to help oversee cuts to government spending and regulation in the new administration—torpedoed a federal spending bill that would have kept the government open for the next few months. These sorts of remarks continued Thursday, …

Trump attempts to kill bipartisan budget deal with Musk's help
3 weeks, 1 day ago

Trump attempts to kill bipartisan budget deal with Musk's help

Associated Press  

▶ Follow live updates on federal funding negotiations as a government shutdown looms. AP AUDIO: Trump brings chaos back to Washington by attempting to kill bipartisan budget deal with Musk’s help AP Washington correspondent Sagar Meghani reports President-elect Donald Trump has sunk a deal to keep the government funded days before a shutdown deadline. “The people who elected us are …

Elon Musk comes out swinging against government spending package in early test of his political might
3 weeks, 2 days ago

Elon Musk comes out swinging against government spending package in early test of his political might

CNN  

New York CNN — In a flurry of posts Wednesday on his social media platform X, Elon Musk derided a Republican-backed government spending bill that if not passed by Friday night would lead to a government shut down. “This bill should not pass,” Musk posted Wednesday morning, responding to a post by Vivek Ramaswamy, the co-leader of President-elect Donald Trump’s …

Trump news: One surprising thing Elon Musk and Vivek Ramaswamy could actually do to cut government spending.
4 weeks, 2 days ago

Trump news: One surprising thing Elon Musk and Vivek Ramaswamy could actually do to cut government spending.

Slate  

Sign up for the Slatest to get the most insightful analysis, criticism, and advice out there, delivered to your inbox daily. If Musk and Ramaswamy are serious about cutting government spending, they should start with the tax code. This spending—disguised as deductions, exemptions, and tax credits—tends to favor the wealthy in ways that would likely never be approved if proposed …

Rand Paul: 'You don't get close' to Musk's spending cut goals without key social programs
1 month ago

Rand Paul: 'You don't get close' to Musk's spending cut goals without key social programs

Raw Story  

Sen. Rand Paul said Friday evening on Fox News what many have thought: President-elect Donald Trump's initiative for massive government spending cuts must go after major social programs to work. Proposing cuts to Social Security and Medicare, America's flagship basic income and health insurance programs for retirees, is generally considered a third rail in American politics. But Paul is likely …

Musk and Ramaswamy's DOGE echoes past budget promises that faced big hurdles
1 month ago

Musk and Ramaswamy's DOGE echoes past budget promises that faced big hurdles

NPR  

Musk and Ramaswamy's DOGE echoes past budget promises that faced big hurdles toggle caption Roberto Schmidt/AFP via Getty Images Elon Musk and Vivek Ramaswamy test drove their new Department of Government Efficiency, or DOGE, on Capitol Hill this week, visiting House and Senate Republicans, who celebrated their promise of reduced government and dramatically lower federal spending. Even the Senate Budget …

Elon Musk heads to US Congress to discuss government trimming
1 month ago

Elon Musk heads to US Congress to discuss government trimming

Hindustan Times  

Elon Musk, appointed by Donald Trump to head a government efficiency commission, will meet with congressional lawmakers in Washington on Thursday to discuss his plans for radical budget cuts. U.S. President-elect Donald Trump and Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket in Brownsville, Texas, U.S., November 19, 2024. "On Nov. 5, voters …

GOP lawmakers try to draft DOGE leaders to their side of the spending war
1 month ago

GOP lawmakers try to draft DOGE leaders to their side of the spending war

Politico  

“They’re just gonna have to shame my colleagues into cutting spending,” Massie said of Musk and Ramaswamy. Roy said he told the duo during the GOP’s widely attended meeting Thursday afternoon that “you’re looking for the problem, and the problem’s in that room.” “They’re just gonna have to shame my colleagues into cutting spending.” Rep. Thomas Massie said of Musk …

Bernie Sanders admits 'Musk is right' to shrink federal government
1 month, 1 week ago

Bernie Sanders admits 'Musk is right' to shrink federal government

Daily Mail  

Tesla CEO Elon Musk received unexpected support for his plans to shrink the federal government - from Democratic Socialist Bernie Sanders. The Vermont senator, who twice came in second place for the Democratic nomination for president, praised Musk's plans to reign in defense spending, saying: 'Elon Musk is right.' But Sanders is not the first Democrat who has expressed support …

"Elon Musk is right": Sanders agrees with DOGE head on cutting Pentagon spending
1 month, 1 week ago

"Elon Musk is right": Sanders agrees with DOGE head on cutting Pentagon spending

Salon  

Politics can create strange bedfellows, and they don't come much stranger than the United States' most prominent democratic socialist and the world's richest man. Elon Musk has been appointed as the head of the quasi-governmental Department of Government Efficiency for the upcoming term of President-elect Donald Trump. Vermont Sen. Bernie Sanders agreed with Elon Musk's hypothetical slash-and-burn approach to government …

'Headed for a brawl': Trump's plan reportedly 'dividing GOP lawmakers'
1 month, 1 week ago

'Headed for a brawl': Trump's plan reportedly 'dividing GOP lawmakers'

Raw Story  

On Friday, Politico wrote that Republicans are gearing up for a fight over Trump's new $4.6 trillion tax cut. Politico reported in 2018 that their analysis put Trump's tax cuts at a $2.3 trillion addition to the deficit. The Center of Budget and Policy Priorities revealed in June that the 2017 tax cut passed by Trump and the GOP "skewed …

Musk to hold talks with Republicans on sweeping spending cuts
1 month, 1 week ago

Musk to hold talks with Republicans on sweeping spending cuts

Raw Story  

Donald Trump's incoming government efficiency chief Elon Musk will meet Republican lawmakers next week to begin discussions about the tech billionaire's new commission tasked with cutting billions of dollars in federal spending. Mike Johnson, the Republican speaker of the House of Representatives, said in a post on X he was looking forward to hosting Musk next Thursday, along with his …

'Almost impossible': Fact-checker says Elon Musk's math does not add up
1 month, 2 weeks ago

'Almost impossible': Fact-checker says Elon Musk's math does not add up

Raw Story  

Tech billionaire Elon Musk has promised to slash government waste and inefficiency and balance the budget through his Trump-approved independent task force known as the Department of Government Efficiency, or DOGE — named after an internet meme. But many of their examples of government waste are misleading, wrote Glenn Kessler for The Washington Post Fact-Checker — and worse, the simple …

Musk wants $2 trillion of spending cuts. Here’s why that’s hard.
1 month, 2 weeks ago

Musk wants $2 trillion of spending cuts. Here’s why that’s hard.

Live Mint  

The U.S. federal government spent $6.75 trillion in the most recent fiscal year ended Sept. 30, according to the Congressional Budget Office. Elon Musk has been tasked alongside biotech company founder Vivek Ramaswamy with leading President-elect Donald Trump’s effort to reduce this government spending through the new Department of Government Efficiency. Social Security benefits cost the government $1.45 trillion in …

Elon Musk mocks own government efficiency department with ‘I can’t believe DOGE is real’ post with laughing emojis
1 month, 2 weeks ago

Elon Musk mocks own government efficiency department with ‘I can’t believe DOGE is real’ post with laughing emojis

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Elon Musk has shared his own disbelief that the government …

Elon Musk’s budget crusade could cause a constitutional clash in Trump’s second term
1 month, 2 weeks ago

Elon Musk’s budget crusade could cause a constitutional clash in Trump’s second term

LA Times  

President-elect Donald Trump walks with Elon Musk before the launch of the sixth test flight of the SpaceX Starship rocket last week in Boca Chica, Texas. Now is the moment for decisive action.” Trump has already suggested taking such a big step, saying last year that he would “use the president’s long-recognized impoundment power to squeeze the bloated federal bureaucracy …

Elon Musk's budget-cutting promises defy arithmetic
1 month, 2 weeks ago

Elon Musk's budget-cutting promises defy arithmetic

LA Times  

President-elect Donald Trump’s designated debt-busters, Elon Musk and Vivek Ramaswamy, last week wrote an op-ed in the Wall Street Journal providing the fullest accounting yet of their plans to cut “waste, fraud and abuse” — that most well-worn and oft-broken of political promises. Indeed, an omission from the dynamic duo’s piece suggests that they — and Trump — may have …

Elon Musk and Vivek Ramaswamy’s ‘budget cuts’ could spark constitutional clash in Trump presidency: Report
1 month, 2 weeks ago

Elon Musk and Vivek Ramaswamy’s ‘budget cuts’ could spark constitutional clash in Trump presidency: Report

Live Mint  

When Elon Musk first proposed a new initiative to reduce the size of government, Donald Trump didn’t seem to take it seriously. His eventual name for the idea But now that Trump has won the election, Musk's fantasy is becoming reality, with the potential to spark a constitutional clash over the balance of power in Washington, reported AP, citing Elon …

Elon Musk’s budget crusade could cause a constitutional clash in Trump’s second term
1 month, 2 weeks ago

Elon Musk’s budget crusade could cause a constitutional clash in Trump’s second term

Associated Press  

WASHINGTON — When Elon Musk first suggested a new effort to cut the size of government, Donald Trump didn’t seem to take it seriously. Now is the moment for decisive action.” Trump has already suggested taking such a big step, saying last year that he would “use the president’s long-recognized impoundment power to squeeze the bloated federal bureaucracy for massive …

Elon Musk cutting $2 trillion of US spending is not good for markets: Expert
1 month, 3 weeks ago

Elon Musk cutting $2 trillion of US spending is not good for markets: Expert

Hindustan Times  

Elon Musk's plans to cut US spending by $2 trillion under the Trump 2.0 administration will strengthen the dollar and be negative for markets, Christopher Wood, global head of equity strategy at Jefferies said in a television interview on Thursday. Musk, one of Donald Trump's largest endorsers, has now been appointed to co-head the new Department of Government Efficiency for …

Department of Government Efficiency: What areas Elon Musk may cut
1 month, 3 weeks ago

Department of Government Efficiency: What areas Elon Musk may cut

CNN  

CNN — President-elect Donald Trump and Elon Musk have big ambitions for making the federal government leaner and more efficient by reviewing its budget and operations from top to bottom. Musk, the world’s richest person who owns or runs several companies, has warned that his goals – including cutting at least $2 trillion in federal spending – could cause “temporary …

Here's how Elon Musk's Department of Government Efficiency might work
1 month, 3 weeks ago

Here's how Elon Musk's Department of Government Efficiency might work

Hindustan Times  

Donald Trump has tasked Elon Musk with setting up a panel to streamline the U.S. government. Musk, whose companies include the electric vehicle maker Tesla and commercial space company SpaceX, has a deep knowledge of the National Aeronautics and Space Administration and the Pentagon, agencies he has extensive contracts with for rockets, satellites and other space operations. Musk said at …

Cost-cutting lessons from Musk world for DOGE
2 months ago

Cost-cutting lessons from Musk world for DOGE

Live Mint  

Lessons from the Elon Musk School of Management shed light on how the billionaire will go about slashing government spending in a new Trump White House. Little is known about how exactly President-elect Donald Trump will use the world’s richest man in his coming administration beyond proposing to appoint him to a new government efficiency commission, as “secretary of cost-cutting." …

Elon Musk’s ‘crazy’ plan to rip $2 trillion out of America
2 months ago

Elon Musk’s ‘crazy’ plan to rip $2 trillion out of America

The Telegraph  

Dressed all in black, Elon Musk let out a roar. At last week’s Madison Square Garden rally, the billionaire pointed to his black “Make America Great Again” cap proclaiming: “I am dark, gothic Maga.” Once a self-described “socialist”, Musk has emerged as one of Donald Trump’s most prominent and strident supporters in the final few weeks of the US election …

Musk's Spending Cuts Plan: A Call for Fiscal Responsibility
2 months, 1 week ago

Musk's Spending Cuts Plan: A Call for Fiscal Responsibility

Live Mint  

Elon Musk outlines his plans to reduce federal spending if Donald Trump is re-elected. Musk proposes drastic budget cuts, aiming to eliminate $2 trillion from the budget and ensure long-term economic prosperity. He emphasizes the need for fiscal responsibility and believes that everyone will have to take a haircut to achieve this goal.

Donald Trump Claims 'Nobody's Going To Feel It' When Elon Musk Slashes Government
2 months, 1 week ago

Donald Trump Claims 'Nobody's Going To Feel It' When Elon Musk Slashes Government

Huff Post  

LOADING ERROR LOADING Former President Donald Trump confirmed Tuesday that he’d consider giving billionaire Elon Musk a role slashing the federal government if he returns to the White House next year. Musk, one of Trump’s biggest financial backers, has said that he would subtract trillions from federal spending — and said the cuts would result in “some temporary hardship” for …

Elon Musk Says Trump Will Bring 'Temporary Hardship' For Americans
2 months, 1 week ago

Elon Musk Says Trump Will Bring 'Temporary Hardship' For Americans

Huff Post  

LOADING ERROR LOADING Former President Donald Trump’s biggest financial backer and top campaign surrogate, Tesla CEO Elon Musk, says he and Trump plan to inflict “temporary hardship” on American citizens if the Republican nominee wins the White House in November. Musk, the tech billionaire who has spent more than $130 million backing Trump and regularly spreads racist conspiracy theories about …

Elon Musk Has New Idea For Donald Trump: Giant Budget Cuts
2 months, 1 week ago

Elon Musk Has New Idea For Donald Trump: Giant Budget Cuts

Huff Post  

LOADING ERROR LOADING During Donald Trump’s rally at Madison Square Garden on Sunday, campaign surrogate Elon Musk pitched an eyebrow-raising $2 trillion budget cut. Trump has promoted Musk as someone who could identify wasteful federal spending, but a $2 trillion cut would amount to almost a third of the budget and crush a range of popular programs ― especially if …

Musk's plan to tackle government debt with AI may have some merit, says ALEX BRUMMER
2 months, 2 weeks ago

Musk's plan to tackle government debt with AI may have some merit, says ALEX BRUMMER

Daily Mail  

There is a long and curious practice in US elections of ‘walking around money’. Debt buster: Tesla, Space X and X tycoon Elon Musk said that if Donald Trump is elected president, he would support a new 'Department of Efficiency' Musk is campaigning for the Republican candidate on a manifesto of cutting government spending. Data from the US Congressional Budget …

Trump's plan would add $4 trillion more to U.S. debt compared to Harris', analysis says
3 months ago

Trump's plan would add $4 trillion more to U.S. debt compared to Harris', analysis says

NPR  

Trump's plan would add $4 trillion more to U.S. debt compared to Harris', analysis says toggle caption Saul Loeb/AFP via Getty Images With less than a month left until Election Day, both the Harris and Trump campaigns have presented their economic visions to the American people — including proposed tax cuts, border security spending and affordable housing policies. Trump's estimated …

Trump plans to hire Elon Musk to lead "government efficiency commission"
4 months ago

Trump plans to hire Elon Musk to lead "government efficiency commission"

Salon  

At an economics conference on Thursday, former president Donald Trump unveiled plans to bring Elon Musk in for a job in his administration, giving billionaires another voice via the Tesla CEO, who is a vocal critic of corporate regulation and a warrior against labor protections. Trump, who previously mulled bringing Musk on, reportedly received a $45 million-per-month campaign lifeline through …

Democrats Hope To Undo Many Trump Tax Cuts To Fund Biden's $3.5 Trillion Budget Plan
3 years, 3 months ago

Democrats Hope To Undo Many Trump Tax Cuts To Fund Biden's $3.5 Trillion Budget Plan

NPR  

Democrats Hope To Undo Many Trump Tax Cuts To Fund Biden's $3.5 Trillion Budget Plan Enlarge this image toggle caption Drew Angerer/Getty Images Drew Angerer/Getty Images Democrats hope to unwind many of the tax cuts Republicans enacted under former President Donald Trump as a way to pay for the majority of the $3.5 trillion spending bill currently under consideration in …

Beware of budget gimmicks in push for massive spending deals
3 years, 5 months ago

Beware of budget gimmicks in push for massive spending deals

Associated Press  

WASHINGTON — Senators fashioning a pair of colossal bills that would deliver more than $4 trillion for infrastructure, health care, environment and other initiatives insist they will fully pay for both plans. ___ DUELING IRS NUMBERS The Congressional Budget Office, lawmakers’ nonpartisan accountant, estimated last year that Congress could collect $61 billion more in taxes over the next decade by …

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