Kevin O'Leary Supports Elon Musk's $2 Trillion Plan To Slash Government Spending With Trump's Backing–'It's Time To Release The Hounds'

Kevin O'Leary, best known from Shark Tank, has backed Elon Musk's sweeping $2 trillion plan to slash federal spending. With former President Donald Trump's backing, Musk is proposed to head the Department of Government Efficiency (DOGE) if Trump secures a second term. 

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O'Leary enthusiastically remarked on Fox News, "Release the hounds" about unleashing Musk's cost-cutting skills across federal agencies. "Let them in there and come back with a shopping list of ideas and let's debate it. Why not? We need to find some savings."

In O'Leary's view, the U.S. federal government is "the biggest business in America." He sees Musk, the mind behind Tesla and SpaceX, as uniquely equipped to tackle this budget behemoth. 

"Who has the executional skills and the track record to even look at this problem?" he said, emphasizing that Musk's focus and determination make him an ideal candidate. Indeed, O'Leary believes that Musk's efficiency ethos, which has driven companies like SpaceX to success, would transfer seamlessly to federal budget cuts – an area few entrepreneurs would tread.

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Musk has clarified that he views today's government spending as unsustainable, especially with national debt interest payments now outstripping the defense budget. 

Speaking at a Trump rally, he linked federal spending to inflation and increased taxes, which he warned are squeezing taxpayers dry. With his proposal to shave off $2 trillion, Musk aims to start the work he sees as vital for long-term economic stability.

But this grand vision has detractors. Some experts question whether cutting a third of federal spending is possible without compromising essential services. 

Analysis from the Washington Post noted that Musk’s cuts could gut programs like health care, food security and housing, impacting millions of Americans. Even previously untouchable sectors, such as Social Security and the military, may be affected. 

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Musk acknowledged on X (formerly Twitter) that his proposed cuts could result in economic turmoil, suggesting that hard times would be ahead before any benefits emerged.

Still, O'Leary remains undeterred. He sees Musk's focus as an asset, contrasting the entrepreneur's "100% signal" approach with what he describes as other business leaders' focus on "noise." To O'Leary, Musk's dedication to his projects means he is all about the mission and not distracted by side issues, making him ideal for leading such a challenging initiative. 

He even suggested that Musk go beyond the $2 trillion target. "We've got to go find $2 trillion; we've got to go find $5 trillion," O'Leary urged.

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