Musk, who now heads the Department of Government Efficiency under President Donald Trump, slammed the bureaucratic waste made by the Biden government in the cabinet meeting today. He announced an ambitious plan to eliminate $150 billion in fraud and redundancy by Financial Year 2026.
“Well, thanks to your fantastic leadership, this amazing cabinet, and the very talented Doge team, I’m excited to announce that we anticipate savings… by $150 billion,” Musk said. He mocked current inefficiencies, citing cases like “people getting unemployment insurance who haven’t been born yet,” calling it “just crazy.”
Musk described the federal landscape as a “target rich environment” for cutbacks, saying the savings would actually enhance public services. The comments came as Trump’s sweeping tariffs take center stage, and Musk is framing his agency’s mission as a vital counter to the problem — eliminating waste at home while the administration wars over trade imbalances abroad.
The department's acronym, DOGE, alludes to Musk's 2021 nickname, "The Dogefather," a reference to his backing of the Dogecoin cryptocurrency. There, we see Musk's quirky take on government reform, which is lighthearted branding.
DOGE, established by President Trump in Jan. 2025, is focused on modernizing federal operations and eliminating inefficiencies. While the initial estimates spoke of $1 trillion in savings, the updated tally stands at $150 billion.