Under the Biden-Harris regime, the country experienced the worst levels of inflation. Thousands of American people barely earn enough to sustain their daily needs while the government continues to splurge taxpayers’ money on wars and undocumented migrants.
During the historic interview of billionaire Elon Musk with former President Donald Trump on Monday night, the world’s richest man suggested that the government should create a commission to address the federal government’s crisis on spending, and he would very much be willing to be part of it.
“A lot of people just don’t understand where inflation comes from. Inflation comes from government overspending because the checks never bounce when it’s written by the government.”
Musk also took the time to explain how inflation works.
He quipped, “So if the government spends far more than it brings in, that increases the money supply, and if the money supply increases faster than the rate of goods and services, that’s inflation.”
“So really, we need to reduce our government spending. And I think we need a government efficiency commission to say, ‘Where are we spending money that’s sensible, and where is it not sensible,’” the Tesla CEO argued.
Trump backed the proposal and said. “The waste is incredible, and nobody negotiates prices.”
He also praised President Javier Milei and acknowledged his cost-cutting efforts to revive the Argentinian economy.
The X owner also lamented, “we need to live within our means.”
“We’re currently adding, I think, a trillion dollars to the deficit, roughly every hundred days. The interest payments on the national debt now exceed the defense budget. It’s on the order of a trillion dollars. It keeps growing.”
The former president added as an example that in 2017, he was able to reduce the price of Boeing’s contract to create Air Force One planes.
“I think it would be great just to have a government efficiency commission that takes a look at these things and ensures that the taxpayers’ money, the taxpayer’s hard-earned money, is spent in a good way, and I’d be happy to help out on such a commission,” Musk furthered.
The former president then added that he loved the suggestion.
“I’d love it. You’re the greatest cutter. You would be very good. You would love it.”
President Ronald Reagan first established such a commission in 1982 to reduce government overspending, which is made up of “experts from the private sector.”
According to the Reagan Foundation, under his term, the government dropped from 10 percent in 1982 to only 1 percent by 1987.
