Politics
NEW: DOGE’s Next Target Is Revealed; Musk Puts Federal Reserve In His Crosshairs
Elon Musk isn’t slowing down. Fresh off a whirlwind first 100 days leading the Department of Government Efficiency (DOGE), Musk hinted that the Federal Reserve may be DOGE’s next major focus — and yes, that $1 trillion savings goal is still on the table.
Speaking with the Daily Caller and several reporters from the Roosevelt Room of the White House, Musk gave an unfiltered update on DOGE’s progress, future plans, and a few eyebrow-raising moments from life in D.C., including sleepovers in the Lincoln Bedroom.
“DOGE is a way of life, like Buddhism,” Musk joked.
Launched by executive order on Day One of Trump’s second term, DOGE was created to gut inefficiency across the bloated federal bureaucracy. According to a six-page fact sheet Musk provided during the meeting, DOGE claims to have slashed $160 billion in government spending — roughly $1,000 back in the pocket of each taxpayer. That includes the elimination of nearly 275,000 federal jobs and the cancellation of over 2,300 contracts, many of which were tied to DEI initiatives and public health campaigns.
Among the team’s early achievements: 470,000 government credit cards canceled, and 11 million deceased Social Security number holders purged from the rolls.
“There are hundreds of thousands of cases of fraud in the federal government,” Musk told reporters, noting that DOGE now sends cases directly to Attorney General Pam Bondi and the DOJ for prosecution. “We try to find the cases that are the most clear cut… then [DOJ] has to decide whether it has the resources to pursue.”
NATIONAL HARBOR, MD, USA — February 20 2025: Elon Musk speaks with Newsmax Host Rob Schmitt on day 1 of the 2025 Conservative Political Action Conference.
“There are definitely fraud rings operating… It’s kind of like the mafia,” he explained, describing a system where investigators must “arrest one of the foot soldiers” and work their way up the chain.
The next big fish? Possibly the Federal Reserve. Musk was stunned to hear the Fed was planning to spend $2.5 billion on a headquarters renovation.
“That’s an eyebrow raiser,” he said. “We would certainly look to see if indeed the Federal Reserve is spending two and a half billion dollars on their design.”
While Musk announced he’ll soon step back from DOGE’s day-to-day operations to refocus on his companies, he’s not stepping away entirely. He plans to remain in D.C. two days per week and confirmed DOGE could continue through the full Trump term, depending on how long the president wants him around.
“I think it’s possible” to save $2 trillion, Musk said, acknowledging the challenge ahead. “But it requires dealing with a lot of complaints… how much pain does the cabinet and Congress want to take?”
That pain has already arrived in the form of protests. In recent weeks, DOGE-related backlash included arson attacks on Tesla chargers and even Molotov cocktails thrown at dealerships. Musk remained defiant.
WASHINGTON DC USA FEBRUARY 17, 2025: Demonstrators gather at the U.S. Capitol to protest the actions of President Trump’s administration and billionaire Elon Musk in Washington DC on President’s Day,
“I’m proud of the incredible work by those teams who’ve taken a lot of flack,” he said, praising their sacrifice. “These are people that came from high-paying private sector jobs.”
Despite public criticism and legal challenges, Musk is bullish on the mission.
“We’re probably getting things right 70/80% of the time,” Musk said, noting that while mistakes have been made — such as early missteps in slashing USAID — the wins “far exceed the losses.”
One hundred days in, Musk seems energized and ready to keep pushing.
