Musk Slashes DOGE Savings Forecast By 85%

Elon Musk announced Thursday that the Department of Government Efficiency (DOGE) is now targeting $150 billion in federal savings for fiscal year 2026 — dramatically scaling back earlier claims of slashing as much as $2 trillion.

Musk initially projected DOGE would deliver $2 trillion in savings by targeting government waste, fraud and abuse. That figure was halved to $1 trillion earlier this year, but Musk walked it back again at Thursday’s Cabinet meeting, saying the revised $150 billion projection will “result in better services for the American people” and ensure federal spending “in a way that is sensible and fair and good.” (RELATED: ‘Accountability Is Coming’: Joni Ernst Sends Musk’s DOGE ‘A Trillion Dollars’ Worth Of Ideas To Gut Gov’t Spending)

“I’m excited to announce we anticipate saving in FY ’26 from a reduction of waste and fraud a reduction of $150 billion dollars,” Musk said. “And some of it is just absurd, like, people getting unemployment insurance who haven’t been born yet. I mean, I think anyone can appreciate — I mean, come on, that’s just crazy.”

The announcement marks the latest in a string of revised projections from Musk, who has become the face of President Donald Trump’s aggressive federal efficiency agenda.

“Your people are fantastic,” the president responded. “In fact, hopefully they’ll stay around for the long haul. We’d like to keep as many as we can. They’re great — smart, sharp, finding things that nobody would have thought of.”

Musk originally floated the $2 trillion figure during campaign appearances last fall.

“I think we could do at least $2 trillion,” Musk said