"Elon Musk eyes radical overhaul of US gov’t as ‘Secretary of Cost-Cutting’
Tesla and SpaceX CEO stands to gain a cabinet position if Donald Trump wins the US presidential election.
" "“Secretary of Cost Cutting”"
I agree many parts of the US debt is a shocker. Musk on the other hand is Mr. inconsistent in several ways?
"During Trump’s Madison Square Garden rally on Sunday, the CEO of Tesla and SpaceX CEO said the federal budget could be slashed by “at least” $2 trillion.
“Your money is being wasted, and the Department of Government Efficiency is going to fix that,” Musk told Howard Lutnick, the chief executive of Wall Street firm Cantor Fitzgerald and a member of Trump’s transition planning team, when asked how much he could “rip out” of the latest federal budget.
“We’re going to get the government off your back and out of your pocketbook.”
"
This will be interesting to watch. Trump is well known for his Tariffs and his thought other countries pay of higher prices in USA for goods subject to tariffs. My economic 101 teacher may have failed me had I put that in my exams?
With the possibility Trump wins their election. I have NFI or 'not a clue' and do not vote in USA of course!
USA 2024 may have " Federal outlays total $6.8 trillion (23.9% of GDP)."
Less 2 trillion is a "29.4118% decrease" in US government spending. That would be significantly deflationary.
"Citi quantifies the impact of a unilateral tariff increase by the US
" Citi quantifies the impact of a unilateral tariff increase by the US
"Citi notes that the scenario analyzed does not account for retaliatory measures from other countries, which are a likely real-world consequence of such a protectionist move. "
The world is a dynamic place. What impact Musk has in this is as clear as mud.
