Elon Musk, head of the US Department of Government Efficiency (DOGE), is leading efforts to cut federal spending. At a recent cabinet meeting, Musk stated the goal is to reduce the deficit by $1 trillion by fiscal year 2026. He warned of potential bankruptcy if no action is taken.
Musk's role involves cost-cutting across various federal agencies. President Trump supports these efforts, addressing concerns about resistance to Musk's methods.