What did Elon Musk predict about the economy in October 2024?
Elon Musk, Trump campaign surrogate, proposed head of the Department of Government Efficiency ·
Well, I think we can do at least $2 trillion, yeah.
Spending rose ~$275 billion instead
Musk said at least $2 trillion could be cut from federal spending. Instead federal outlays rose about $275 billion, roughly 4 percent, in fiscal 2025.
Federal outlays rose about $275 billion, roughly 4 percent, in fiscal 2025 instead of falling (Congressional Budget Office, Monthly Budget Review: Summary for Fiscal Year 2025).
Prediction vs. outcome · Economy
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The claim
- Date
- Where
- Trump campaign rally at Madison Square Garden, New York, answering Howard Lutnick on stage.