President Donald Trump and Elon Musk discussed their administration’s efforts to cut government spending during a Tuesday interview on Hannity, with Musk stating the goal is to eliminate $1 trillion from the federal deficit.
Musk warned that if the deficit is not controlled, the U.S. risks financial collapse, comparing the nation’s debt burden to personal bankruptcy. He cited “massive waste, fraud, and abuse” as primary contributors to the current $2 trillion annual deficit inherited by the administration.
Trump echoed Musk’s concerns, blaming previous leaders for reckless spending. He claimed the government had mismanaged $9 trillion, particularly on environmental initiatives he dismissed as the “Green New Scam.” Trump argued that inflation had surged under past policies and emphasized that he had been in office for only weeks when the economic effects became apparent.
The administration’s cost-cutting initiatives, spearheaded by Musk’s Department of Government Efficiency, have been met with controversy, as federal agencies undergo widespread budget reviews.
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