Musk had earlier said he would be able to cut the federal budget by 'at least $2 trillion.'
Elon Musk has backtracked on his earlier goal of cutting $2 trillion from the federal budget.In a live interview on X, formerly Twitter, with Stagwell CEO Mark Penn on Wednesday, Musk said slashing $2 trillion from the budget would be 'the best-case outcome,' but he thinks there is a 'good shot' of cutting half that amount.'We'll try for $2 trillion. I think that's like the best-case outcome,' he said.
'If we can get, drop the budget deficit from $2 trillion to $1 trillion, and kind of free up the economy to, you know, have additional growth such that the output of goods and services keeps pace with the increase in the money supply, then there will be no inflation,' he said. 'So that, I think, would be an epic outcome.'Penn asked if Musk had identified cuts that he thinks will be successful.
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