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Current plans aim to reduce the budget by up to $2 trillion annually, dwarfing the historic measures of the 1990s. However, achieving this goal is complicated by the fact that mandatory spending, including requirements for social programs, forms a substantial portion of the budget. These expenses cannot be easily adjusted without navigating legal and political hurdles.
Elon Musk's involvement in this initiative has sparked speculation about its motivation and feasibility. Simply cutting discretionary spending does not address the underlying mandatory costs that cannot be swiftly altered. Moreover, implementing aggressive budget cuts could inadvertently lead to increased unemployment and decreased tax revenue, potentially worsening fiscal challenges.