(Reuters) – Tech billionaire Elon Musk, whom President Donald Trump has tasked with shrinking the U.S. government, said Thursday that he expects to complete most of his $1 trillion cost-cutting plan within 64 days.
Speaking on Fox News’ “Special Report with Bret Baier”, Musk expressed confidence that his Department of Government Efficiency (DOGE) could reduce total federal spending from $7 trillion to $6 trillion by eliminating waste and fraud.
“The government is not efficient, and there is a lot of waste and fraud, so we feel confident that a 15% reduction can be done without affecting any of the critical government services,” Musk said.
Musk’s Role in the Cost-Cutting Initiative
Musk, the world’s richest person, is serving as a “special government employee,” limiting his tenure to 130 days. This means his leadership of DOGE could end as soon as May.
So far, DOGE claims to have saved $115 billion through workforce reductions, asset sales, and contract cancellations. However, budget experts have questioned these savings, noting that DOGE’s figures are unverifiable and have contained errors.
Many analysts believe Musk cannot reach his target without affecting entitlement programs like Social Security, which Trump has pledged not to cut.
Political and Public Reactions
Musk’s efforts have sparked political backlash and nationwide protests, with Tesla dealerships experiencing vandalism and demonstrations from those opposing the federal workforce cuts.
Despite the controversy, Musk remains steadfast in his mission:
“Unless this exercise is successful, the ship of America will sink. That’s why we’re doing it.”
Musk was joined in the interview by key DOGE executives, including Steve Davis (president of The Boring Company) and Joe Gebbia (co-founder of Airbnb).
What’s Next?
With Musk’s tenure at DOGE set to end soon, the success or failure of his cost-cutting mission could have major implications for Trump’s administration and the 2026 budget process.
