Elon Musk Claims He Can Cut $2 Trillion from US Federal Budget

October 29, 2024 - In a bold statement at a recent rally for Donald Trump in New York's Madison Square Garden, Elon Musk claimed he could reduce the US federal budget by $2 trillion. Musk, the CEO of SpaceX and Tesla, emphasized his commitment to eliminating what he considers "wasteful" government spending.

"Your money is being wasted," Musk told the crowd. "We're going to get the government off your back and out of your pocketbook." He outlined his vision for substantial budget cuts, focusing on streamlining federal expenditures and reducing inefficiencies.

Elon Musk Claims He Can Cut $2 Trillion from US Federal Budget

Musk's proposal has sparked significant debate among political and economic experts. While some fiscal conservatives have praised his stance, others have expressed skepticism about the feasibility of such drastic cuts. Critics argue that reducing the federal budget by $2 trillion would require significant cuts to essential programs, including defense, education, Social Security, and Medicare.

Video: Musk Says He Can Cut $2 Trillion From Budget at Trump Rally

Despite the controversy, Musk's remarks have resonated with many Americans concerned about the national debt, which currently exceeds $30 trillion. His involvement in the political arena, particularly his support for Trump's campaign, underscores his growing influence in both business and politics.

US Government Spending in 2024

As the debate continues, the public and policymakers alike are closely watching how Musk's bold claims will impact the future of US government spending.