Musk proposed massive spending cuts to the U.S. budget

American entrepreneur and head of the U.S. Department of Government Efficiency (DOGE) Ilon Musk proposed to cut the United States budget spending by $4 billion a day to reduce the federal deficit in 2026. He announced this on his social network X (former Twitter) on January 31.

"Reducing the federal deficit from $2 trillion to $1 trillion in fiscal year 2026 (beginning October 1, 2025 and ending September 30, 2026. - Ed.) requires spending cuts averaging $4 billion a day," he wrote.

According to Musk, even such measures will lead to a budget deficit of $1 trillion, but economic growth must match this figure, which in turn means no inflation in 2026.

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In 2024, Musk actively supported Donald Trump's candidacy for the U.S. presidency, speaking in favor of him at rallies. After the inauguration on January 20, the American leader signed a decree on the creation of the Department of Government Efficiency, the head of which he appointed the American entrepreneur. It was reported that among the main goals of DOGE - optimization of government spending.

In December 2024, Musk has already stated that the United States should reduce defense spending on European countries because of the budget deficit and public debt.