At a rally for former President Donald Trump in New York, Elon Musk claimed he could eliminate at least $2 trillion from the federal budget through a proposed Department of Government Efficiency. Musk criticized current government spending, stating, “Your money is being wasted,” and emphasizing that all spending equates to taxation.

Musk’s remarks, which received cheers from the audience, align closely with Trump’s campaign promises to reduce federal spending. The former president has previously suggested that Musk could lead this new efficiency commission if he wins reelection, though Musk did not provide specific spending cuts during his speech.

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“I think we can do at least $2 trillion,” Musk said. “I mean, at the end of the day, you’re being taxed. You’re being taxed. All government spending is taxation. So whether it’s direct taxation or — all government spending, either it becomes inflation or it’s direct taxation — your money is being wasted, and the Department of Government Efficiency is going to fix that.”

“We’re going to get the government off your back and out of your pocketbook,” he continued.

“America is not just going to be great. America is going to reach heights that it has never seen before,” Musk said. “The future is going to be amazing.”

Critics have raised concerns about potential conflicts of interest, given Musk’s significant federal contracts through his companies, including Tesla and SpaceX. Musk’s political contributions for the 2024 election cycle have also positioned him as a major donor within the Republican party, with at least $132 million spent to support Trump and other Republican candidates.

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