Odaily News Elon Musk said he thinks he can reduce annual U.S. government spending by $2 trillion and laid out his vision for deep cuts if Donald Trump wins the presidency. "Your money is being wasted," Musk said at a Trump rally at Madison Square Garden in New York on Sunday. "We're going to get the government off your back and off your wallet." Trump said he would ask Musk to lead an initiative to cut government spending, dubbed the Department of Government Efficiency, or DOGE. Critics say the position would represent a conflict of interest for Musk. The companies he runs, including Tesla Inc and SpaceX, have billions of dollars in federal contracts and benefit from federal spending, including electric vehicle tax credits and infrastructure investments. The $2 trillion goal represents almost a third of existing spending. The federal government spent $6.75 trillion in fiscal 2024, according to the Treasury Department. Trump talked about cutting the federal debt during his campaign but did not detail specific programs he would cut. Instead, he promised a series of tax cuts aimed at key voter groups that economists warn would cause the deficit to balloon. Federal filings show Musk has spent at least $132 million to support Trump and other Republicans in the 2024 election, making him one of the top donors of the entire 2024 cycle. (Bloomberg)