Elon Musk's budget claims fall short amid new bill buzz
Elon Musk, who leads the U.S. Government Efficiency Department, claims he saved $175 billion, despite originally promising $2 trillion. However, according to Axios, the actual savings are only $16 billion.
Musk, heading the DOGE team, was tasked with reducing U.S. budget expenditures by $2 trillion. But as reported by Axios, the realized savings amount to just $16 billion. Musk asserts he saved $175 billion, a figure far from his original promises.
During the election campaign, Musk promised that his initiatives would significantly reduce expenditures, cut unnecessary regulations, and eliminate redundant jobs. However, it appears the impact of his work is minimal, and many people lost their jobs without a clear reason.
New budget bill
Musk's savings may be overshadowed by a new budget bill proposed by Donald Trump. Dubbed by the president as a "big, beautiful bill," it suggests tax cuts and increased spending, which economists warn could exacerbate the U.S. budget deficit by $3 trillion over 10 years.
At the end of last year, Musk, alongside Vivek Ramaswamy, a former presidential candidate, announced mass layoffs of federal officials in pursuit of savings. However, the "New York Times" calculated that even completely cutting non-defense-related discretionary government spending wouldn't achieve the anticipated savings.
On Tuesday, Musk, who will soon step down from his role at the White House, thanked Trump for the "chance to cut unnecessary government spending."
The crucial point is that he had an opportunity to make a real difference. Instead, he remained inactive—aside from cutting thousands of jobs without a clear justification, according to Bloomberg’s evaluation.
