Musk Makes Massive Announcement Just Days Before Election

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The pattern of billionaire businessmen holding public office would continue if Elon Musk joined the US administration after Donald Trump won the November election. The rich have always taken political leadership roles in U.S. history, as seen by individuals like the late Vice President Nelson Rockefeller, former New York City Mayor Michael Bloomberg, Illinois Governor JB Pritzker, and former President Trump himself.

With polls indicating a tightly contested election, Musk has emerged as a serious contender for Trump’s cabinet, following Trump’s suggestion that the tech billionaire could serve as the Secretary of cost-cutting. It was noted that Trump, who transitioned into politics after years in real estate, has shown a pattern of appointing high-net-worth individuals from the private sector. During his first term, five Cabinet secretaries who had spent the majority of their careers in business, including former Exxon Mobil CEO Rex Tillerson, billionaire philanthropist Betsy DeVos, and former WWE CEO Linda McMahon, were nominated by Trump.

As the world’s richest man, Musk has advocated for major government spending reductions, although specifics on targeted cuts were not provided. During Trump’s rally at Madison Square Garden on Sunday, Musk reportedly indicated that the federal budget could be reduced by at least $2 trillion. It was conveyed that Musk had told Howard Lutnick, CEO of Cantor Fitzgerald and a member of Trump’s transition team, that the Department of Government Efficiency would address this waste, stating an intent to get the government off the public’s back and out of their wallets.

Such an ambitious reduction—nearly one-third of the previous year’s federal budget—would likely require cuts in traditionally protected areas, including Social Security, healthcare, veterans’ benefits, and defense. Musk has acknowledged that such a drastic spending reduction would create substantial economic challenges. When a post on X suggested an initial severe overreaction in the economy and anticipated market downturns, Musk said this sounds about right.

Historical precedents exist for politicians promoting waste reduction. Still, no direct parallel is seen for a businessman like Musk leading a department dedicated to efficiency, as noted by Bruce Schulman, a history professor at Boston University. Figures like former President George W. Bush and presidential nominee Mitt Romney, who emphasized their business backgrounds, typically had prior public service experience before seeking top government roles. Initiatives aimed at reducing government waste, such as the Hoover Commission and the National Partnership for Reinventing Government, were generally led by established government officials rather than private-sector leaders.

Schulman remarked that efforts to eliminate waste have been modest in impact and primarily for political show, although the size of the federal government has remained relatively constant in terms of employees and spending, even as the U.S. population has grown. He commented that the government has become cleaner than it was in the 1960s and 1970s. A potential Cabinet role would likely appeal to Musk, who has emerged as a prominent and influential Trump supporter since an assassination attempt on Trump earlier this year, according to reports.

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