Elon Musk admits his $2TRN economy drive means 'market will tumble'

Elon Musk has admitted his transportation to slash astatine slightest $2trillion from national spending if fixed nan chance by Trump would lead to a 'tumble' successful nan markets. 

Musk, nan CEO of Tesla and SpaceX who has put successful his CV to go nan head of a caller 'Office of Government Efficiency' nether a 2nd Trump administration, said mean Americans would suffer immoderate financial difficulties if his scheme were enacted. 

'Most importantly, we person to trim spending to unrecorded wrong our means,' he said successful a virtual townhall connected X, adding that these efforts will 'involve immoderate impermanent hardship, but it will guarantee semipermanent prosperity.' 

He later added that if we were fixed a authorities role, he would 'balance nan fund immediately.'

'Obviously, a batch of group who are taking advantage of authorities are going to beryllium upset astir that. I'll astir apt request a batch of security, but it's sewage to beryllium done. And if it's not done, we'll conscionable spell bankrupt,' he insisted. 

He besides replied to an anonymous X relationship that believed that if Musk's awesome spending cuts were pushed through, there would beryllium an 'initial terrible overreaction successful nan economy' and that nan 'market will tumble', but said 'there will beryllium a accelerated betterment to a healthier, sustainable economy.'

At 1:46am, Musk simply replied: 'Sounds astir right.' 

It comes aft he told nan astir 20,000 attendees of Trump's rally astatine New York's Madison Square Gardens connected Sunday: 'Your money is being wasted. We're going to get nan authorities disconnected your backmost and retired of your pouch book.' 

Howard Lutnick - president and CEO of financial services institution Cantor Fitzgerald, who besides helms nan Trump 2024 Transition Team - introduced nan X proprietor to nan shape astatine nan conclusion of his speech.

Lutnick said Musk would soon go nan caput of a newly-created Department of Government Efficiency, an agency whose initials spell retired DOGE, nan cryptocurrency Musk erstwhile promoted.

Before Lutnick ceded nan lectern to nan world's richest man, he asked Musk: 'How overmuch do you deliberation we tin rip retired of this wasted $6.5 trillion Harris-Biden budget?' 

'I deliberation we tin do astatine slightest $2 trillion,' Musk replied, getting cheers from nan audience.

The national authorities spent $6.75 trillion successful fiscal twelvemonth 2024, but only took successful $4.92 trillion successful revenue, leaving a $1.83 trillion shortfall, according to nan Treasury Department.

Musk's cuts would shrink nan fund by astir a 3rd and would beryllium much than this year's shortage spending.

During his speech, Musk besides reiterated what he said astir being 'dark MAGA' astatine nan early October rally Trump did successful Butler, Pennsylvania, wherever nan Republican campaigner was changeable by a would-be assassin months earlier.

‘I’m dark, gothic MAGA!' Musk screamed into nan microphone while donning a achromatic MAGA hat.

Musk getting a prime-time spot astatine nan latest Trump rally comes arsenic he faces disapproval and imaginable investigations complete his $1 cardinal regular giveaway to registered voters successful plaything states.

The random lottery began connected October 19 and is being offered to those who signed his petition successful support of free reside and weapon rights.

The seven-figure prize was first won by 3 Pennsylvania Republican voters, each of whom proudly posed pinch their oversized show checks.

Musk, however, has paused nan giveaway successful Pennsylvania aft warnings from nan Justice Department.

The DOJ sent a missive notifying Musk's America PAC that its lottery is perchance successful usurpation of national law, according to aggregate reports.

Plenty of speculation emerged that his 11th hr predetermination sweepstakes would deed roadblocks, pinch galore pointing retired that it's forbidden to springiness distant money to sway voters aliases get them to registry to vote.

DOJ warnings and calls for investigations by Democrats and Republicans alike haven't yet deterred Musk, who arsenic precocious arsenic Friday handed retired different $1 cardinal to a Wisconsin teacher, Brian Bauer.