Tech billionaire Elon Musk has announced plans to step down from his role leading the Department of Government Efficiency (DOGE) by the end of May, after claiming his team is on track to cut the US federal deficit by $1 trillion.
In an interview on Fox News, Musk said “he’s done” with the cost-cutting initiative, saying his team is reducing waste and fraud at a rate of “$4 billion a day.” This would bring total federal spending down to $6 trillion, a 15% reduction that Musk insists will not affect critical government services.
“I think we will accomplish most of the work required to reduce the deficit by a trillion dollars within [130 days],” Musk said. “Unless this exercise is successful, the ship of America will sink.”
Inside DOGE’s mission
Musk, 53, was appointed by US President Donald Trump as a special advisor to lead DOGE’s aggressive push to cut government waste. According to Musk, DOGE’s efforts—including workforce reductions, asset sales, and contract cancellations—have saved taxpayers $115 billion as of March 24.
“The government is not efficient, and there is a lot of waste and fraud, so we feel confident that a 15% reduction can be done without affecting any of the critical government services,” Musk said.
DOGE’s core team includes seven members: Aram Moghaddassi, Steve Davis, Brad Smith, Anthony Armstrong, Joe Gebbia, Tom Krause, and Tyler Hassen. Together, they have slashed costs across multiple federal agencies, reportedly shutting down the 10,000-employee USAID and cutting the Consumer Financial Protection Bureau’s workforce from 1,700 to near-zero.
“America will be solvent,” Musk 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.”
Musk under fire amid Tesla turmoil
Musk’s announcement comes as Tesla faces mounting challenges. The electric vehicle giant’s stock price fell by more than 5% last Monday, and nationwide protests against the company have intensified. Speaking to Tesla employees in Austin last Thursday, Musk acknowledged the strain.
“I’m stretched pretty thin. I have like 17 jobs,” Musk admitted, adding that the backlash against Tesla “feels like Armageddon” when watching media coverage.
Despite the turbulence, Musk struck an optimistic tone: “There are rocky moments, a little bit of stormy weather… But the future is incredibly bright and exciting, and we’re going to do things that no one has even dreamed of.”
Legal battles and political fallout
Musk’s aggressive cost-cutting measures have triggered a series of lawsuits accusing DOGE of overreach and privacy violations. Critics argue the department is dismantling essential government functions without legal authority.
Musk and his team have dismissed these concerns. They argue that outdated record-keeping and payment systems are hindering efficiency and promise to implement more modern, tech-driven solutions.
As the May deadline approaches, Musk remains defiant: “We are succeeding. Our goal is to reduce the waste and fraud by $4 billion a day, every day, seven days a week.”
