Elon Musk, co-head of the newly created Department of Government Efficiency (DOGE), maintained Wednesday that the goal of cutting $2 trillion from the federal budget would be the “best-case outcome,” but conceded that $1 trillion was a more realistic target.

The Details: In an interview on X Wednesday with a political strategist, Musk said, “I think if we try for $2 trillion, we’ve got a good shot at getting 1.” Musk refrained from discussing the specifics of where budget cuts may occur but insisted the federal government is “a very target-rich environment for saving money.”

For Context: The budget for the U.S. government in fiscal year 2025 is set to be the largest it has ever been, at $7.3 trillion. DOGE is tasked with recommending major government cuts and reforms and bringing transparency to government spending. Nearly 74% of all federal outlays consist of interest on public debt, Medicare, Social Security, and other mandatory programs, spurring questions on where the cuts would occur. Vivek Ramaswamy, Musk’s partner in leading DOGE, also explained the goals of “eliminating illicit regulations” which he said will stimulate the economy “even though it doesn’t technically reduce the government’s budget.”

How the Media Covered It: The Daily Beast (Left bias) focused on “Musk’s backtracking” from his initial $2 trillion goal, calling the announcement a “big downgrade.” Outlets on the right like the New York Post (Lean Right bias) tended to be more optimistic, and while recognizing some of the challenges, focused more on Musk’s preview of an “epic outcome” and the “good shot” at getting $1 trillion in cuts.