The Richest Man In The World Says ‘We Have To Reduce Spending To Live Within Our Means’
Elon Musk is once again raising eyebrows through his involvement in the Trump administration.
Frederic Legrand - COMEO | Shutterstock Since Donald Trump’s second presidential inauguration, Elon Musk has inserted himself into the inner workings of the government more and more through the Department of Government Efficiency (DOGE), which he heads.
Politicians and citizens alike have expressed concern over the power Musk, an unelected official, seems to wield. Even more concerning, however, is his inability to understand the struggles of most Americans in this turbulent economy.
In his most recent head-turning move, the billionaire said Americans should be prepared for some financial hardship to get back on track.
According to Forbes, Musk’s net worth currently sits at $401.2 billion, making him the richest man in the world. Despite his immense wealth, Musk thinks that it’s time for Americans to tighten their belts when it comes to spending.
In a telephone town hall with the America PAC, Musk told listeners that it was time to be more financially conscious and be ready to make some cuts.
“The reality is that there is so much government waste … kind of like being in a room full of targets, you can’t miss,” Musk was heard saying in the audio recording. “Fire in any direction, and you’re going to hit a target. As a country, we need to live within our means. That means looking at every line item, every expense, and saying, ‘Is this necessary at all?’ And if it is necessary, how do we get better value for our money?”
The only suggestion Musk offered for how to do this was to make the tax code easier to understand. “My opinion is we need to simplify the tax law,” he continued. “It’s incredibly complex … Companies and people are spending a bunch of money on complex accounting and legal stuff. We just need to have a much simpler tax code that is easier to understand.”
Although Musk only mentioned the tax code, it seems clear that he has his sights set on bigger shake-ups.
In the telephone town hall, all Musk was readily willing to admit to was adjusting the tax code. However, his actions show that he has other, bigger plans for cutting spending within the government.
Writing for Snopes, Nur Ibrahim said, “Since Trump took office, he and Musk have taken drastic measures to curb government spending, which critics call an ‘erosion’ of democracy.”
A group of Reuters contributors reported that Musk has been involved in the “buyout” for federal workers that President Trump has instituted, offering to pay them a lump sum in exchange for their resignation. Closely related to this is the dismantling of organizations like the U.S. Agency for International Development (USAID) and the Department of Education, leaving thousands of federal workers jobless.
The DOGE is reportedly closely involved in these efforts, with Musk looking into possibly getting rid of other government agencies, like the General Services Administration, the National Oceanic and Atmospheric Administration, and the Centers for Medicare and Medicaid Services, Reuters reported.
Musk argued that a little bit of ‘hardship’ now will lead to ‘prosperity’ later on.
Obviously, Musk seems intent on cutting as many governmental costs as possible, regardless of how they may affect people. But he assured town hall listeners that this would be worth it in the long run. “Most importantly, we have to reduce spending to live within our means,” he stated. “That does really involve temporary hardship, but it will ensure long-term prosperity.”
One X user, known only as V, validly inquired, “The man with more money than anyone else on Earth says everyone’s temporary hardship will be worth it. How much hardship will HE endure during all this?”
It is interesting that the richest person in the world would say that temporary economic hardship is necessary. With his hundreds of billions of dollars, he will surely not face any hardship, no matter how bad things get for the average American.
It makes one question what the new administration’s priorities are and who they’re really looking out for.
Mary-Faith Martinez is a writer with a bachelor’s degree in English and Journalism who covers news, psychology, lifestyle, and human interest topics.