"At least $2 trillion" was Elon Musk's casual preelection response when asked how much a new Donald Trump administration could cut from the federal government. As a goal for the new administration, $2 trillion in cuts is both perfectly reasonable and politically impossible. The federal government, now burning $6.8 trillion annually, ran on $4.4 trillion just five years ago—hardly a time of fiscal restraint. But any ambition to curb government spending will have to contend with a political reality that isn't exactly primed for austerity—especially under a second Trump administration, where a potent combination of executive power, cronyism, and party infighting looks likely to dominate.
Musk, along with one-time presidential aspirant Vivek Ramaswamy, has been tapped to head a new Department of Government Efficiency (DOGE), which will have a mandate to cut, but unclear status and authority.
