Tech billionaire Elon Musk announced on Thursday that he will step down from his position in the Donald Trump administration at the end of May after overseeing a $1 trillion reduction in the U.S. deficit. Musk, who was appointed as a “special government employee” for a 130-day term, has led cost-cutting initiatives as the head of the Department of Government Efficiency (DOGE).
Musk Calls It a ‘Revolution in Government’
In an interview with Fox News, Musk described his tenure as a historic transformation in federal spending.
“This is a revolution, possibly the biggest in government since the original revolution,” Musk said. “In the end, America will be in a much stronger position, with a fantastic future ahead.”
Musk, 53, who also heads Tesla and SpaceX and owns social media platform X, has received both praise and criticism for his aggressive cost-cutting strategies. Under DOGE, an agency composed of engineers and entrepreneurs, tens of thousands of federal employees have been laid off, and funding for multiple programs has been slashed.
Musk Confirms 130-Day Term Limit
When asked if he would extend his tenure, Musk stated that he believes his objectives will be largely completed by then.
“I think we will have accomplished the majority of what’s needed to cut the deficit by $1 trillion within that timeframe,” he said.
According to DOGE’s website, as of March 27, the agency has saved American taxpayers approximately $130 billion, equating to about $807 per person.
Eliminating Waste and Fraud: A 15% Cut is ‘Achievable’
Musk and his seven-member DOGE team—including Steve Davis, Joe Gebbia, Aram Moghaddassi, Brad Smith, Anthony Armstrong, Tom Krause, and Tyler Hassen—have focused on reducing government inefficiencies.
“Our goal is to cut spending by eliminating waste and fraud, aiming for a 15% reduction, which seems entirely realistic,” Musk told Fox News’ Bret Baier.
“The government operates inefficiently, with significant waste and fraud. We are confident that a 15% cut can be achieved without impacting critical services.”
Federal Credit Card Oversight: ‘This Doesn’t Make Sense’
A key area of DOGE’s focus has been federal credit card usage. DOGE member Steve Davis pointed out that there are around 4.6 million government-issued credit cards for an estimated 2.3 to 2.4 million employees.
“This doesn’t add up,” Davis said. “We’ve asked agencies whether they actually need all these cards, if they are being used, and if they can physically account for them.”
Musk called the situation absurd.
“There shouldn’t be more government credit cards than there are employees,” he said.
Criticism Over Lack of Oversight
Despite the administration’s claims of efficiency, critics argue that DOGE wields too much authority with insufficient oversight. Opponents allege that Musk’s team has unilaterally canceled federal contracts and implemented budget cuts without congressional approval.
Musk dismissed these concerns, insisting that his team takes a meticulous approach to decision-making.
“Some may say we’re making impulsive cuts, but that’s far from the truth,” Musk said. “We double-check, even triple-check, before making a decision.”
He also acknowledged that mistakes can happen.
“That’s not to say we don’t make errors. Expecting a flawless approach is like demanding a baseball player to bat a thousand—it’s impossible. When we make mistakes, we correct them quickly and move forward.”