Key Takeaways Elon Musk said Wednesday that his goal of cutting $2 trillion in government spending may be a difficult number to reach, with half that figure more likely.Musk said in an interview that cutting waste in the federal government is a "target rich environment,

Elon Musk walked back his previous claim that he could cut at least $2 trillion from the federal budget, saying Wednesday that half that amount would be “an epic outcome.”

Elon Musk, who U.S. President-elect Donald Trump has tapped to oversee a government cost-cutting effort, acknowledged that his declared goal of cutting $2 trillion in spending from the $6.8 trillion federal budget would be a long shot.

Elon Musk initially pledged to cut some $2 trillion from the federal budget, alongside his DOGE partner, politician Vivek Ramaswamy.

Billionaire Elon Musk expressed doubt that his government efficiency panel in President-elect Donald Trump’s incoming administration will actually be able to achieve $2 trillion in cuts to the US federal budget,

During a livestremed talk with Stagwell Inc. CEO Mark Penn, tech billionaire Elon Musk admits that the newly formed Department of Government Efficiency may not reach its goal.