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SpaceX CEO Elon Musk, who President Donald Trump appointed as leader of the new Department of Government Efficiency (DOGE), has announced his new goals for the agency.
Musk previously announced Thursday that the organization would reduce the current federal deficit by $1 trillion by 2026, cutting an average of four billion dollars daily. He elaborated that, if these numbers were successfully met, there would be “no inflation in 2026.”
As February begins, Musk explained that he was feeling “cautiously optimistic” that this $4 billion cut target could be met, and if implemented consistently, reduce the deficit by one trillion dollars in 2026.
DOGE has supposedly already eliminated one billion dollars through the elimination of 104 diversity, equity, and inclusion (DEI) contracts, according to Fox News.
Shortly before Joe Biden left office, the nation’s deficit increased to $1.8 trillion, the third highest in history.
Thus, DOGE was established by President Trump shortly after his inauguration on Jan. 20, 2025, through an executive order to “maximize governmental efficiency and productivity.”