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Donald Trump wants to make the government leaner and more efficient, handing the task to Tesla CEO Elon Musk and former Republican presidential candidate Vivek Ramaswamy. The two will co-lead the new Department of Government Efficiency or "DOGE" for short.
The federal budget totaled $6.75 trillion for fiscal year 2024. Musk wants to slash that by two trillion.
In 2024, the highest spending buckets were Social Security, at $1.46 trillion, health, at $912 billion, and Medicare, at $874 billion. Musk hasn’t given specific plans but says everyone would be "getting a haircut."
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