Elon Musk Joins Trump to Slash Government Waste and Regulations

1 min read
Source: Business Insider
Elon Musk Joins Trump to Slash Government Waste and Regulations
Photo: Business Insider
TL;DR

President-elect Donald Trump has appointed Elon Musk and Vivek Ramaswamy to lead a new "Department of Government Efficiency" aimed at reducing U.S. government spending, which totaled $6.75 trillion in fiscal year 2024. The largest expenditures were on Social Security, health, and Medicare. Musk has pledged to identify $2 trillion in cuts, focusing on areas like transportation and education, though any changes would require congressional approval. The initiative aims to bring an entrepreneurial approach to government reform, with transparency promised in its operations.

Share this article

Want the full story? Read the original reporting

Read on Business Insider