Elon Musk has a message for Americans: brace for higher cost of living as he cuts spending as a member of Donald Trump’s cabinet.
With less than a week before the presidential election (Nov. 5), Musk says Trump’s plans to cut spending as President would likely include “temporary hardship” for Americans.
At a virtual town hall event on Friday (Oct. 25) on X.com, the multi-billionaire Tesla boss said he is “praying for a victory” for Trump, so he can begin cutting federal spending.
The U.S deficit topped $1.8 trillion in 2024, according to CNBC.
Trump has said he will appoint Musk to his White House cabinet to help him balance the budget.
Musk says government spending is out of control and the U.S. has to get back on track so every American can afford a Tesla down the road.
But righting the ship will cause more hardship for Americans who are already struggling to pay their bills.
“We have to reduce spending to live within our means,” Musk said. “And, you know that necessarily involves some temporary hardship, but it will ensure long-term prosperity.”
“There is so much government waste that it’s kind of like being in a room full of targets, like you can’t miss — you fire in any direction you’re going to hit a target.”
He added: “Everyone’s going to have to take a haircut… we can’t be a wasteful …we need to live honestly,” Musk said.
