Elon Musk claims DOGE can hit a trillion-dollar value without service cuts, promising more money for Social Security recipients.
Elon Musk, the well-known businessman, recently shared his views on Dogecoin (DOGE) and federal spending.
He believes cutting a trillion dollars from the government budget is possible without affecting essential services.
He also promised that Social Security recipients will receive more money because of this effort.
Elon Musk claims DOGE can reach trillion-dollar value while promising increased benefits for social security recipients
Musk spoke confidently about his goal of reducing federal spending by a trillion dollars.
He stated that this aim could help cut the country’s annual deficit in half.
“This is a revolution,” Musk told Fox News. He claimed that this effort could lead to significant improvements in how the government operates.
He assured viewers that the critical services people rely on will continue to function properly.
However, he also acknowledged that there may be complaints along the way.
The DOGE chief declared. “The critical programs that people depend upon will work, and it’s going to be a fantastic future. And are we going to get a lot of complaints along the way? Absolutely.”
Elon Musk aims to achieve significant financial savings quickly.
If Musk’s team maintains the $4 billion daily savings, they could save around $520 billion in the 130 days allowed for their work. Musk believes that this goal is realistic and achievable.
He pointed out that the focus is on reducing waste and fraud in government programs. So far, he feels they are making progress.
Musk has been working hard to implement changes across various federal agencies since the beginning of the year.
“I think we will accomplish most of the work required to reduce the deficit by a trillion dollars within [130 days],” Musk told Baier.
“Our goal is to reduce the waste and fraud by $4 billion a day, every day, seven days a week. And so far, we are succeeding.”
He implemented major staff reductions in federal agencies.
For example, he has overseen the layoffs of many employees at the U.S. Agency for International Development (USAID) and the Consumer Financial Protection Bureau (CFPB).
These changes are part of his plan to lower government spending.
Despite the mass layoffs, Musk and his team noted that very few federal workers have actually been fired. Many employees chose to accept buyout offers.
Musk emphasized that the reductions have not significantly impacted the overall workforce.
The tech CEO promised increased benefits for social security recipients
One of Musk’s main goals is to improve the Social Security system.
He stated that legitimate recipients of Social Security will receive more money, not less.
“When you want to change your bank account, you can call Social Security. We learned 40% of the phone calls that they get are from fraudsters” who are trying to steal payments, he said.
Musk chimed in: “In fact, what we’re doing will help their benefits. Legitimate people, as a result of the work of DOGE, will receive more Social Security, not less.
I want to emphasize that, as a result of the work of DOGE, legitimate recipients of Social Security will receive more money, not less money.”
“The 94-year-old grandmother is actually a result of DOGE’s work going to get her check, she’s not going to be robbed by forces like she’s getting robbed today, and the solvency of the federal government will ensure that she continues to receive those social security checks,” Musk added.
“The reason we’re doing this is because if we don’t do it, America is going to go insolvent and go bankrupt, and nobody’s going to get anything.”
Improving the experience for users
Musk’s team is also focusing on improving the overall experience for Social Security users. They aim to make processes easier and more efficient.
For instance, they want to digitize the retirement process for government employees, which is currently outdated.
This change could streamline how benefits are managed and accessed.
Joe Gebbia, a co-founder of Airbnb, is working alongside Musk on these improvements.
He believes that the government can provide a better user experience, similar to popular technology companies.
“It’s an injustice to civil servants who are subjected to these processes that are older than the age of half the people watching the show tonight,” Gebbia said.
“We really believe that the government can have an Apple store-like experience — beautifully designed, great user experience, modern systems.”