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Elon Musk defends cost-cutting efforts in Oval Office appearance

Mint Ahmedabad

|

February 13, 2025

Trump signed an executive order giving DOGE more authority to reduce the size of the federal workforce

- Tarini Parti & Alex Leary

Elon Musk defends cost-cutting efforts in Oval Office appearance

Elon Musk defended his cost-cutting plans as a common-sense campaign to rein in out-of-control government spending, amid opposition from Democrats and legal challenges that have stalled some of his efforts.

Appearing Tuesday alongside President Trump in the Oval Office, the billionaire offered a lengthy explanation of his views on the federal government and made the case for his Department of Government Efficiency.

Musk, wearing a black "Make America Great Again" hat, described federal workers as an "unelected, fourth, unconstitutional branch of government" that he said has "more power than any elected representative."

"It does not match the will of people," he said. "So it's just something we've got to fix, and they've also got to address the deficit."

Trump signed an executive order Tuesday giving DOGE more authority to reduce the size of the federal workforce. The order directs agencies to restrict hiring to essential positions, with some exceptions.

Musk was joined in the Oval Office by one of his sons, who sat on his father's shoulders for part of the impromptu news conference. The roughly 30-minute event was one of Musk's lengthiest public discussions about DOGE's work.

"It's not optional for us to reduce the federal expenses," Musk said. "It's essential. It's essential for America to remain solvent as a country."

Musk compared the scrutiny he is facing to a "daily proctology exam." He said the public could make its own judgments about his potential conflicts of interest. Trump added that if the White House thought there was a lack of transparency or a conflict for Musk, then "we would not let him do that segment or look in that area."

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Carmakers tap EMs to shield exports amid China threat

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Flipkart-backed super.money preps ‘buy now, pay later’ play

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KKR to raise $15 bn in new Asia PE fund

KKR has kicked off fundraising for its fifth Asia private equity fund, seeking to raise $15 billion in what would be one of the region's largest buyout fundraisings, three people with knowledge of the matter said.

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Mahindra targets 8-fold auto growth

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Decoding Narayana stock spurt

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Bajaj's arm hires CIO from Kotak

The alternative investment management arm of the Bajaj Group, one of India’s oldest conglomerates, hired a chief investment officer (CIO) from Kotak Alternate Asset Managers Ltd, according to people familiar with the matter, underscoring an intensifying talent battle in the $169 billion asset management industry.

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Fed’s October rate decision fueled pushback over possible December cut

Divisions over whether the Federal Reserve should cut interest rates next month deepened at officials’ October meeting, leaving a growing contingent—and potentially a narrow majority—of policymakers uncomfortable with a December rate reduction.

time to read

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