Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Politics

Musk confident DOGE will save $1 trillion as government cost cutting continues

by admin May 31, 2025
May 31, 2025
Musk confident DOGE will save $1 trillion as government cost cutting continues

Tesla and SpaceX CEO Elon Musk wrapped up his time as the public face of DOGE in a press conference with President Donald Trump on Monday, leaving behind a total estimated $175 billion in government cost-cutting over the past few months. 

The $175 billion in savings from slashing government contracts, selling assets, identifying improper payments, and other cost-cutting measures amounts to $1,086.96 per each individual taxpayer, according to the DOGE website. 

The cuts took place all across the government, highlighted by a complete dismantling of USAID, where 83% of the agency’s programs and 5,200 contracts were canceled following the conclusion of a six-week review by DOGE.

Trump discussed some of the other more significant cuts in the Friday press conference.

$20 million for Arab Sesame Street in the Middle East,’ Trump said. ‘Nobody knows what that’s all about. Nobody’s been able to find it. $8 million for making mice transgenders. So they spent $8 million in making mice transgender. And those are better than many others. I could sit here all day and read things just like that.’

While some outlets, including The New York Times and BBC News, have disputed DOGE’s $175 billion estimate and argued the true number is smaller, Musk told reporters in the Oval Office on Friday that the savings will continue to build, and he is confident the total cuts will amount to $1 trillion in the coming years. 

The DOGE influence will only grow stronger,’ Musk said. ‘I liken it to a sort of person of Buddhism. It’s like a way of life so it is permeating throughout the government. And I’m confident that over time, we’ll see $1 trillion of savings, and a reduction in $1 trillion of waste, fraud reduction.’

Additionally, Musk said that the DOGE cuts would soon hit the $200 billion threshold for fiscal year 25-26.

From the start, DOGE was hit with not only a tsunami of negative press and outraged Democratic lawmakers, but also a series of lawsuits, which bogged it down in protracted legal battles as Musk struggled to reach his original estimates of $1-2 trillion in cuts. 

This, coupled with the reality of most of the major end cuts requiring congressional approval to carry out, relegated DOGE’s impact on cutting around the edges of the big programs and agencies it likely would have liked to eliminate entirely.

Musk was asked on Friday what the biggest ‘roadblock’ was for him at DOGE.

‘It’s mostly just a lot of hard work,’ Musk responded. ‘It’s really not any one person or Congress. It’s going through really millions of line items and saying just each one of them makes sense or does not make sense.’

‘Obviously, at times when you cut expenses, those who are receiving the money, whether they receive, whether they’re receiving that money legitimately or not. They do complain, and you’re not going to hear someone confessing that they received money inappropriately. Never. They’re going to always say that they received money appropriately for a report. Of course, naturally, that’s what you’d expect.’

Fox News Digital’s Peter Pinedo contributed to this report.

This post appeared first on FOX NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Who will be Elon’s successor? The top names in line for DOGE chief
next post
Elon Musk sports black eye at farewell presser in Oval Office: ‘Horsing around with little X’

Related Posts

‘Unethical garbage’: ProPublica faces backlash for ‘journalism’ claim...

December 14, 2024

Israel kills Hamas commander who led heinous Oct....

January 1, 2025

Netanyahu apologized for airstrikes during ‘heart-to-heart’ with Qatari...

September 30, 2025

DOGE subcommittee holds first hearing slamming $36T national...

February 13, 2025

Vance rips Harris in battleground Georgia: ‘Stop telling...

October 27, 2024

With Gaetz dropping out, do Hegseth, RFK Jr....

November 22, 2024

Trump turns to Supreme Court in fight to...

July 3, 2025

‘History of anger problems’: Jill Biden mocked for...

May 31, 2024

Rick Scott calls Democrats ‘heartless’ as he pitches...

November 13, 2025

Trump predicts little progress in potential shutdown talks...

August 14, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Minnesota remains frontline in Vance’s ‘war on fraud’ as Walz given 60 days ‘to clean up the systems’

      February 26, 2026
    • Sens Sanders and Mullin clash in heated Senate hearing exchange: ‘You’re part of the problem’

      February 26, 2026
    • Trump’s fraud czar nominee touts Minnesota blueprint to root out Obamacare fraud, senior scams

      February 26, 2026
    • Trump’s ‘war on fraud’ draws range of reactions during SOTU speech

      February 26, 2026
    • Biden’s FBI subpoenaed Kash Patel’s and Susie Wiles’ phone records during federal Trump investigation

      February 26, 2026

    Categories

    • Business (1,159)
    • Investing (4,142)
    • Politics (5,085)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2026 sportinvestorsleague.com | All Rights Reserved