Elon Musk Pledges to Complete USD 1 Trillion Federal Cost Cuts Soon

Elon Musk, the tech billionaire whom US President Donald Trump has appointed to shrink the government, said on that he would complete the majority of the work to cut $1 trillion in federal spending when his tenure ends in as few as 64 days.

Musk told Fox News' "Special Report with Bret Baier" that he was confident his Department of Government Efficiency could save $1 trillion, reducing total federal spending from $7 trillion to $6 trillion.

The White House designated Musk, the world's richest person, as a "special government employee," limiting his work to 130 days. That means his tenure as head of the DOGE operation could end as early as the end of May.

"I think we will accomplish most of the work required to reduce the deficit by a trillion dollars within that time frame," Musk said when asked about his tenure and how quickly he expected to meet his cost-cutting target.

"The government is inefficient, and there is a lot of waste and fraud, so we are confident that a 15% reduction can be achieved without affecting any critical government services," Musk stated.

DOGE estimates that as of March 24, it had saved US taxpayers $115 billion through actions such as workforce reductions, asset sales, and contract cancellation.

However, the savings total published on the DOGE website is unverifiable, and the calculations contain numerous errors and corrections. According to budget experts, Musk cannot meet his target without affecting entitlement programs such as Social Security, which Trump has vowed not to cut.

The interview marked the first time Musk and his top DOGE executives spoke with the media to explain their work. Musk was joined by seven other DOGE executives, including Steve Davis, president of Musk's tunneling venture, the Boring Company, and Joe Gebbia, co-founder of Airbnb.

"Unless this exercise succeeds, the ship of America will sink. That's why we're doing it," said Musk, the CEO of electric car company Tesla.

Musk's role in reducing the federal workforce and government agency budgets has sparked political outrage in recent weeks, with Tesla cars and dealerships targeted in a wave of vandalism and demonstrations across the nation.