Elon Musk had claimed during Trump’s presidential campaign that he could reduce the U.S. federal budget by at least $2 trillion—an amount that would exceed the annual spending Congress allocates to defense and other government agencies.

As US President-elect Donald Trump completes his cabinet appointments for his tenure beginning in January 2025, he has selected businessman Elon Musk and businessman-turned-politician Vivek Ramaswamy to lead his administration's Department of Government Efficiency.
In a statement on Nov 12, Trump announced that Ramaswamy and Musk would head the newly formed Department of Government Efficiency (DOGE), which will be tasked with "slashing excess regulations" and "cutting wasteful expenditures."

“Together, these two wonderful Americans will pave the way for my administration to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies—all essential to the 'Save America' movement,” the statement from Trump read.
“This will send shockwaves through the system, and anyone involved in government waste—which is a lot of people!” Musk said about his appointment to the new government post.
Trump compared the new department to "the Manhattan Project of our time," claiming that Republican politicians had long dreamed of its creation.
"I look forward to Elon and Vivek making changes to the federal bureaucracy with an eye on efficiency, while at the same time making life better for all Americans. Importantly, we will drive out the massive waste and fraud that exists throughout our annual $6.5 trillion government budget," Trump said.
Ramaswamy posted on X, “And yes, this means I’m withdrawing myself from consideration for the pending Senate appointment in Ohio. Whoever Governor DeWine appoints to JD’s seat has big shoes to fill. I will help them however I can.”
Elon Musk had claimed during Trump’s presidential campaign that he could reduce the US federal budget by at least $2 trillion—an amount that would exceed the annual spending Congress allocates to defense and other government agencies.
To cut such a significant portion of the government budget, some of the most well-known entitlement programs, like Social Security, Medicare, Medicaid, and veterans' benefits, would likely need to be reduced.
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