Elon Musk has shared an update regarding the progress of his Department of Government Efficiency (DOGE) in reducing U.S. government inefficiencies on social media platform X.

The Tesla billionaire explained on Jan. 30 that reducing the federal deficit from $2 trillion to $1 trillion in fiscal year 2026 would require cutting approximately $4 billion per day in projected spending through Sept. 30. “Reducing the federal deficit from $2T to $1T in FY2026 requires cutting an average of ~$4B/day in projected 2026 spending from now to Sept. 30,” he wrote, emphasizing:

That would still result in a ~$1T deficit, but economic growth should be able to match that number, which would mean no inflation in 2026. Super big deal.

His comments emphasized the scale of spending cuts needed and suggested that economic growth could offset the remaining deficit without contributing to inflation.

Established by Donald Trump’s executive order on Jan. 20, following his November 2024 announcement, DOGE was initially set to be co-led by Vivek Ramaswamy and Elon Musk, but Ramaswamy left before the project began. Scheduled to conclude on July 4, 2026, DOGE aims to cut wasteful spending and remove unnecessary regulations. According to its founding executive order, its official purpose is to modernize federal technology and software to improve government efficiency and productivity.

On Jan. 28, DOGE shared on X that it is saving the federal government about $1 billion per day by reducing unnecessary hiring, eliminating diversity, equity, and inclusion (DEI) programs, and stopping improper payments to foreign organizations, aligning with the president’s executive orders.

Musk has repeatedly warned about the dangers of rising government debt, cautioning that continued deficit spending could push the U.S. toward financial instability or even bankruptcy. He has stressed the need for substantial fiscal reforms, warning of potential economic consequences such as inflation, decreased investor confidence, and financial crises. His advocacy through DOGE reflects his broader concerns about the sustainability of current government policies.

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