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Elon Musk said on Wednesday that saving $2 trillion would be a "best-case outcome" for DOGE.
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Musk said DOGE had a "good shot" at saving $1 trillion, which would still be an "epic outcome."
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The Tesla chief had previously suggested his commission would save at least $2 trillion.
Elon Musk cast doubt on his previous promise that Donald Trump's "Department of Government Efficiency" would save the government $2 trillion.
"I think we'll try for $2 trillion. I think that's, like, the best-case outcome," Musk told the political strategist Mark Penn during a Wednesday-evening chat on X.
In October, Musk argued that DOGE would save the government at least $2 trillion. Some federal budget experts questioned the possibility of making such significant cuts, especially given that Trump has promised not to touch programs like Social Security and Medicare.
"But I do think that you kind of have to have some overage," Musk told Penn. He added that he thought the commission had a "good shot" at saving $1 trillion.
He continued: "If we can drop the budget deficit from $2 trillion to $1 trillion and free up the economy to 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. So that, I think, would be an epic outcome."
Musk did not specify in October which cuts he planned to make to achieve that target, which would involve slashing government spending by nearly a third; the federal government spent $6.75 trillion in the 2024 fiscal year.
Musk told Penn on Wednesday that he still thought the government was "a very target-rich environment for saving money."
"It's like being in a room full of targets," he added. "Like, you could close your eyes, and you can't miss."
Republican lawmakers have moved quickly to support DOGE's efforts. Sen. Joni Ernst of Iowa and Rep. Marjorie Taylor Greene of Georgia are set to lead their chambers' work with the panel.
The Tesla CEO's influence has soared since Trump's victory. In recent weeks Musk helped kill sweeping legislation to fund the federal government, briefly increasing the risk of a shutdown.
Trump has waved off concerns about Musk's political moves in Europe. The Tesla CEO has repeatedly criticized British Prime Minister Keir Starmer and called for the Reform UK leader Nigel Farage, a Trump ally, to step aside. Musk also endorsed Germany's far-right AfD party ahead of elections next month; top leaders have pushed back.