Elon Musk claims he can cut the federal budget for Trump by ‘at least’ $2 trillion…. See More

The Tesla CEO is expected to lead a group auditing government spending in a potential Trump administration

In between belting out a 2024 version of the “Dean Scream” and asking supporters of former President Donald Trump to vote, Elon Musk claimed he could slash $2 trillion in government spending in a hypothetical federal government gig.

After taking the stage at Trump’s Sunday rally at New York City’s Madison Square Garden, Cantor Fitzgerald CEO Howard Lutnick asked Musk how much a potential commission dedicated to cutting federal spending could “rip out” of “this wasted $6.5 trillion Harris-Biden budget?” The federal government has spent $6.75 trillion in fiscal year 2024, according to the Treasury Department.

Elon Musk endorsed Donald Trump for president after the attempted assassination
Trump says Elon Musk has agreed to lead a commission to slash government spending

“I think we could do at least $2 trillion,” Musk said. “Your money is being wasted, and the Department of Government Efficiency (DOGE) is going to fix that. We’re going to get the government off your back and out of your pocketbook.”

DOGE, which pays tribute to Musk’s favorite memecoin, is a commission proposed by Musk and Trump that would conduct a “complete financial and performance audit of the entire federal government” and recommend reforms. Musk has frequently railed against government overspending and would lead the task force, which Trump has vowed to launch if he wins the Nov. 5 presidential election.

Lutnick is leading Trump’s transition team, a role that he reportedly has been accused of using to help benefit Cantor Fitzgerald and its cryptocurrency business. He describes himself as a “founding member” of DOGE.

Besides Musk and Lutnick, it’s unclear who else would be part of the potential commission. One potential member is former Trump national security advisor Michael Flynn, who has become widely regarded as a conspiracy theorist. During an event hosted by Rod of Iron Ministries, an offshoot of the Unification Church, Flynn’s son said his father would likely help lead DOGE, CNN reported.

For Musk, leading DOGE would put him in a position to influence government agencies that regulate his companies, including Tesla (TSLA
+1.24%
) and SpaceX. Both of those firms have repeatedly come into conflict with federal agencies, such as the Environmental Protection Agency.

Last week, Musk told investors he would use such a job to push for a national approach to autonomous vehicle regulation. He also said he expects Tesla to get approval to launch rideshare services in California, Texas, and “some other states” in 2025, along with approval for a “fully autonomous” version of the company’s driver-assist software.

Musk has made himself a close ally of Trump’s in recent months, speaking alongside him in Butler, Pennsylvania, and delivering a series of pro-Trump speeches elsewhere in the swing state. He has also donated tens of millions of dollars to his pro-Trump “America PAC,” which has been organizing canvassing efforts in battleground states.