'Some temporary hardship': Elon Musk admits his plan with Trump would harm the economy

In a telephone town hall, Musk acknowledged that spending cuts would cause 'some temporary hardship,' but insisted they were necessary for 'long-term prosperity.'

Musk stated that his role in Trump's proposed Department of Government Efficiency would involve cutting 'at least $2 trillion' from the federal budget, risking significant economic consequences.

The last time the U.S. faced similar government spending cuts was during the early years of the Great Depression, a period policymakers wish to avoid repeating.

Musk's agreement with a tweet about severe economic overreactions from proposed spending cuts and mass deportations highlights a troubling potential path for the economy.

Read at Fast Company