Elon Musk commented on DOGE's potential for cost reduction during a livestream with Stagwell Inc. CEO Mark Penn.
newly formed Department of Government Efficiency The goal of cutting $2 trillion in federal spending may not be reached, Elon Musk acknowledged Wednesday in a conversation with Stagwell Inc. CEO Mark Penn. The two spoke for just 34 minutes in a live streamed 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,” Penn said, adding that he believes that if the DOGE is aiming for a $2 trillion cut, they have a “good shot at getting one.”
South Florida real estate tycoons have sued that DOGE co-chair Elon Musk is mulling a move to the Sunshine State. (Photo by Brandon Bell/Getty Images/Getty Images)
Elon Musk and Vivek Ramaswamy point to dose targets
Despite his acknowledgment of the committee's goals, Musk believes he's walking into a “very goal-rich environment” and that DOGE will have no problem finding a place to cut.
“It's like having a room full of targets,” Musk said. “Like you can close your eyes, and you can't miss.”
Elon Musk arrives on Capitol Hill on December 5, 2024. in Washington, DC (Anna Moneymaker/Getty Images/Getty Images)
Mask, Ramaswamy unveils the full-time dose, salaried role they are trying to fill
While Musk didn't seem worried about the DOGE's ability to figure out what to cut, he did express concerns about public figures “caring about spending” taxpayer money. He also claimed that those in government who “care” about “spending money effectively” face obstacles.
“The system prevents them from doing that,” Musk told Penn.
Elon Musk and Vivek Ramaswamy on their way to a meeting with House and Senate Republicans at the Capitol Visitor Center to talk about President-elect Donald Trump's “Department of Government Efficiency” on Thursday, Dec. 5, 2024. (Getty Images/Getty Images via Tom Williams/CQ-Roll Call, Inc)
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Instead of acting as a general department, the DOGE will act as a committee outside the government to examine issues of spending, waste, and efficiency. DOGE will operate for two years and will be headed by mask and technology entrepreneur Vivek Ramaswamy.