Elon Musk Visits White House, Promises to Cut Billions in Federal Spending. The billionaire entrepreneur met with US officials and threatened to “slash” the federal budget if his demands were not met.
Musk’s comments came after a recent surge in the price of Dogecoin (DOGE), a cryptocurrency that has become closely tied to the billionaire’s interests. While Musk did not explicitly promise to support DOGE, his visit to the White House may have been seen as an effort to rally support for his cause.
However, the prospects for Musk’s efforts appear bleak. The current Congress is largely dysfunctional, with few bills passed since President Donald Trump took office in January. Any attempts to reduce spending would need to navigate this challenging legislative landscape.
As a result, it remains unclear whether Musk’s threats will have any tangible impact on federal spending or if DOGE will continue to benefit from the increased attention.
Source: https://www.washingtonpost.com/politics/2025/05/01/musk-steps-back-doge-looks-congress-finish-what-it-started