Elon Musk Proposes Government Efficiency Commission in Trump Discussion

During a live discussion with Donald Trump, Elon Musk proposed the idea of a "government efficiency commission" aimed at curbing U.S. government overspending. Musk emphasised that excessive government expenditure is a primary driver of inflation, calling for urgent spending cuts to stabilise the economy.

Inflation and Overspending

Musk explained that inflation results from government overspending, as the government can issue checks without the risk of them bouncing. When spending surpasses revenue, it increases the money supply, leading to inflation if the growth in money outpaces the production of goods and services.

Musk’s Willingness to Participate

This was not Musk's first mention of the commission. He previously discussed the concept in a podcast with Lex Fridman, stating that he would be willing to join such a commission if it were established. Musk reiterated concerns over the daily increase in national debt due to government spending, highlighting inflation as a hidden tax on the public.

Trump’s Focus on Energy

While Musk advocated for spending cuts, Trump focused on the rising energy costs, arguing that lowering these prices would help alleviate economic pressures. Trump also linked the future demands of artificial intelligence (AI) to increased energy production, predicting that AI will eventually double the current energy requirements.

No Mention of Bitcoin

There was significant anticipation among the crypto community that Trump would discuss Bitcoin during the talk, with Polymarket bettors assigning a high probability to its mention. However, despite this expectation, neither crypto nor Bitcoin was discussed.