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00:00And we would expect that, and that's the way it works.
00:03So I'd like to have Elon Musk please say a few words.
00:07Thank you, Elon.
00:08Mr. Musk.
00:09Thank you, Mr. President.
00:10Well, I actually just call myself a humble tech
00:13support here because this is actually, as crazy as
00:18it sounds, that that is almost a literal
00:22description of the work that the Doge team is
00:24doing, is helping fix the government computer
00:26systems.
00:27Many of these systems are extremely old.
00:29They don't communicate.
00:30There are a lot of mistakes in the systems.
00:32The software doesn't work.
00:36So we are actually tech support.
00:38It's ironic, but it's true.
00:42The overall goal here with the Doge team
00:44is to help address the enormous deficit.
00:47We simply cannot sustain as a country $2 trillion deficits.
00:52The interest rates, just the interest on the national debt
00:56now exceeds the Defense Department's spending.
00:59We spend a lot on the Defense Department,
01:01but we're spending over a trillion dollars on interest.
01:05If this continues, the country will
01:06go become de facto bankrupt.
01:09It's not an optional thing.
01:11It is an essential thing.
01:13That's the reason I'm taking a lot of flack
01:16and getting a lot of death threats, by the way.
01:18I like to stack them up.
01:20But if we don't do this, America will go bankrupt.
01:24That's why it has to be done.
01:27And I'm confident at this point, knock on wood,
01:30knock on my wooden head, there's a lot of wood up there,
01:36that we can actually find a trillion dollars in savings.
01:40That would be a roughly 15% of the $7 trillion budget.
01:45And obviously, that can only be done with the support
01:47of everyone in this room.
01:48And I'd like to thank everyone for your support.
01:50Thank you very much.
01:52This can only be done with your support.
01:55So DOJ is a support function for the president
01:59and for the agencies and departments
02:02to help achieve those savings and to effectively find
02:0615% reduction in fraud and waste.
02:12And we bring the receipts.
02:14So people say, well, is this real?
02:15Just go to DOJ.gov.
02:18Line item by line item, we specify each item.
02:21And I should say, also, we will make mistakes.
02:24We won't be perfect.
02:26But when we make a mistake, we'll fix it very quickly.
02:30So for example, with USAID, one of the things
02:33we accidentally canceled very briefly was Ebola prevention.
02:37I think we all want Ebola prevention.
02:39So we restored the Ebola prevention immediately.
02:42And there was no interruption.
02:45But we do need to move quickly if we
02:48are to achieve a trillion-dollar deficit
02:51reduction in financial year 2026.
02:55It requires saving $4 billion per day, every day,
02:59from now through the end of September.
03:02But we can do it, and we will do it.