Howard Lutnick says Elon Musk vowed onstage that DOGE would cut $2 trillion in spending when he was supposed to say $1 trillion

Speaking connected an occurrence of the "All-In Podcast," which aired Thursday, Lutnick said the 2 had planned to denote astatine a Trump rally successful Madison Square Garden that they would collectively prevention and gain $2 trillion for the US.

"When I accidental to him: 'How overmuch are you going to cut?' The woody was he's going to chopped $1 trillion. And past he's expected to say: 'And however overmuch are you going to earn?' And I'm expected to accidental $1 trillion," Lutnick said connected the podcast.

But Lutnick said Musk didn't execute their publication arsenic planned.

"Because we're successful beforehand of 22,000 people, and the spot is erupting," Lutnick said. "He says: '$2 trillion!' And I'm like, I deliberation I said: 'All righty then.' Or thing similar that. I mean, what was I expected to say?" Lutnick continued.

At the rally, Lutnick had asked Musk however overmuch helium thought helium could "rip retired of this wasted $6.5 trillion Harris-Biden budget."

"I deliberation we tin bash astatine slightest bash $2 trillion," Musk replied.

Their onstage infinitesimal became the ground for doubts among immoderate national fund experts that Musk could genuinely chopped $2 trillion, oregon astir a 3rd of the $6.75 trillion spent by the US successful the 2024 fiscal year.

In January, Musk told governmental strategist Mark Penn that redeeming $2 trillion would beryllium the "best-case outcome" and that his squad had a "good shot" astatine cutting $1 trillion instead.

"If we tin driblet the fund shortage from $2 trillion to $1 trillion and escaped up the system to person further maturation specified that the output of goods and services keeps gait with the summation successful the wealth supply, past determination volition beryllium nary inflation. So that, I think, would beryllium an epic outcome," Musk said successful January.

In November, Musk had backed Lutnick to beryllium President Donald Trump's treasury caput pick.

Musk wrote successful an X station past that arsenic treasury secretary, Lutnick "will really enact change" arsenic opposed to Trump's eventual choice, Scott Bessent. Bessent was the "business-as-usual" option, Musk added.