Elon Musk made the remark about DOGE’s potential to cut costs during a livestream with Stagwell Inc. CEO Mark Penn.
The newly formed Department of Government Efficiency may not reach its target of cutting $2 trillion in federal spending, Elon Musk admitted in a conversation on Wednesday with Stagwell Inc. CEO Mark Penn. The two spoke for just over 34 minutes in a livestreamed conversation on X, the social media platform owned by Musk.
“I think we’ll try for 2 trillion. I think that’s like the best-case outcome,” Musk told Penn, adding that he believes if DOGE aims for $2 trillion in cuts, they have a “good shot at getting one.”
South Florida real estate tycoons make the case that DOGE co-chair Elon Musk could be mulling over a move to the Sunshine State. (Brandon Bell/Getty Images / Getty Images)
ELON MUSK AND VIVEK RAMASWAMY POINT TO DOGE TARGETS
Despite his admission about the committee’s goal, Musk believes he’s walking into a “very target-rich environment” and that DOGE will not have issues finding places to cut.
“It’s like being in a room full of targets,” Musk said. “Like you could close your eyes, and you can’t miss.”
Elon Musk appears on Capitol Hill in Washington, D.C., on Dec. 5, 2024. (Anna Moneymaker/Getty Images / Getty Images)
MUSK, RAMASWAMY UNVEIL THE DOGE FULL-TIME, SALARIED ROLES THEY’RE TRYING TO FILL
While Musk did not seem worried about DOGE’s ability to figure out what should be cut, he expressed concern about making those in government “care about spending” taxpayers’ money. He also claimed that those in government “who do care” about “spending money effectively” face roadblocks.
“The system prevents them from doing so,” Musk told Penn.
Elon Musk, left, and Vivek Ramaswamy make their way to a meeting in the Capitol Visitor Center in Washington, D.C., with House and Senate Republicans to talk about President-elect Trump’s “Department of Government Efficiency,” on Dec. 5, 2024. (Tom Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)
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Rather than acting as a typical department, DOGE will act as a committee outside the government to examine issues of spending, waste, and efficiency. DOGE is set to operate for two years and will be led by Musk and tech entrepreneur Vivek Ramaswamy.
