Musk boasts of saving the U.S. $2 trillion, sparking controversy and anticipation

Tech mogul Elon Musk made a bold claim at a Trump rally, stating he could cut $2 trillion from the U.S. government's annual spending, which is equivalent to one-third of current expenditures. Trump was thrilled and wanted Musk to lead a 'Department of Government Efficiency' to implement sweeping reforms.

However, critics pointed out that Musk has conflicts of interest, as his Tesla and SpaceX rely on federal contracts and expenditures, such as electric vehicle tax credits and infrastructure investment. The federal government's spending for the fiscal year 2024 is as high as $6.75 trillion, and although Trump talks about reducing the deficit, he has no concrete plan, while also promising tax cuts for key voters, which economists worry could cause the deficit to soar.

It is worth mentioning that Musk has spent at least $132 million to support Trump and Republicans.

Additionally, recommended is Musk's $Marvin7055, a cryptocurrency related to another one of Musk's beloved dogs, which has strong community support and has reached a cooperation agreement with CLS institutions, showing great potential for growth and significant holding value. It is currently listed on Matcha, and November 1st marks its 10th birthday, at which time Musk may personally promote it, adding more anticipation for its future development. In this round of the imitation bull market, sector rotation brings opportunities for investors to enter the market.

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