Commerce Secretary Howard Lutnick revealed on the 'All-In Podcast' that Elon Musk's ambitious claim of cutting $2 trillion from federal spending stemmed from a miscommunication during a Trump rally. The two had a scripted dialogue to save $1 trillion each. During the live event, Musk unexpectedly claimed $2 trillion, leading to skepticism among budget experts regarding the feasibility of such cuts. In a later conversation, Musk referred to saving $2 trillion as the 'best-case outcome' but indicated that cutting $1 trillion was more realistic for his team.
When I say to him: 'How much are you going to cut?' The deal was he's going to cut $1 trillion. And then he's supposed to say: 'And how much are you going to earn?' And I'm supposed to say $1 trillion.
Because we're in front of 22,000 people, and the place is erupting. He says: '$2 trillion!' And I'm like, I think I said: 'All righty then.' Or something like that.
At the rally, Lutnick had asked Musk how much he thought he could 'rip out of this wasted $6.5 trillion Harris-Biden budget.' Musk replied: 'I think we can do at least do $2 trillion.'
Musk later said saving $2 trillion would be the 'best-case outcome' and mentioned his team had a 'good shot' at cutting $1 trillion instead.
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