NAIROBI (CoinChapter.com)—Elon Musk, co-founder of D.O.G.E., made a brief but buzzworthy appearance at Donald Trump’s New York rally on Sunday, claiming he could slash a third of the federal budget through a “Department of Government Efficiency.” Trump, not missing a beat, dubbed it the “DOGE” department—a nod to Musk’s meme-famous cryptocurrency. While Musk’s plan to cut $2 trillion was discussed further in the event, his bold claim left many wondering about the specifics, adding an air of mystery to his proposal.
Elon Musk Pitches a $2 Trillion “Efficiency” Plan—Details TBD
Musk pledged to save the U.S. $2 trillion if put in charge of government efficiency. Yet, as with many of Musk’s grand promises, details were sparse. “All government spending is taxation,” he said, underscoring a core fiscal belief that government waste directly impacts Americans’ wallets through either direct taxes or inflation. Musk’s plan, though tantalizing, skipped specifics, leaving room for speculation about where these cuts might actually hit.
Elon Musk addresses a crowd at Trump’s New York rally. Source: Sky News/ YouTube
Howard Lutnick, CEO of financial firm Cantor Fitzgerald, set the stage by challenging Musk: “How much do you think we can rip out of this wasted $6.5 trillion Harris-Biden budget?” Musk’s confident “at least $2 trillion” response was met with applause but also raised questions. While Musk’s endorsement of lower government spending echoed Trump’s platform, his vague fiscal philosophy gave little clarity on how he might navigate real-world trade-offs.
Could Musk Lead a New “DOGE” Department Under Trump?
Elon Musk’s appearance at the rally fueled speculation about a potential role in Trump’s hypothetical second administration. Trump has previously floated the idea of a “Department of Government Efficiency”—or “DOGE,” a nod to Musk’s infamous memecoin—to slash federal waste. With Musk’s clear alignment on budget cuts and deregulation, the prospect of him leading a “DOGE” department no longer seems outlandish. Musk has already hinted he’d be “happy to help out” with government efficiency, lending credibility to the notion.
Beyond rally appearances, Musk has become a significant financial force in Trump’s campaign. Reports show he has funneled nearly $119 million into America PAC, a political action committee backing Trump’s reelection. Musk’s influence stretches further, with a daily $1 million giveaway aimed at swing state voters who sign a pro-free speech and right-to-bear-arms petitio. Some experts question the very legality of this initiative. With financial heft and political clout, Musk’s potential role in a “DOGE” department could mark an unprecedented tech-government collaboration.
Musk’s Support Sparks Heated Debates on Tech and Politics
Elon Musk’s endorsement of Donald Trump has sparked heated reactions. In particular, after Musk claimed he could save the U.S. $2 trillion without offering specific cuts or policies. The Committee for a Responsible Federal Budget (CRFB) has previously critiqued similar budget-cutting promises. The CFRB noted that such proposals often lack viable solutions for maintaining key programs like Social Security.
U.S. 2024 spending reaches $6.75 trillion. Source: Bureau of Economic Analysis
In a survey by The Wall Street Journal, 65% of economists predicted Trump’s fiscal policies would worsen the deficit. Additionally, the Committee for a Responsible Federal Budget warned Trump’s tax proposals, including Social Security changes, could destabilize the U.S. economy.
Elon Musk’s plans to reduce government spending, and his outspoken support for Trump, underscore a growing alignment between tech and conservative politics. But whether Musk’s “DOGE” department ever sees the light of day or remains a rally soundbite, his influence in U.S. politics continues to deepen as he transitions from entrepreneur to political provocateur.
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