Elon Musk says it is 'essential' to reduce federal spending

US tech billionaire Elon Musk, whom US President Donald Trump has tasked with cutting wasteful spending and overhauling the federal bureaucracy, said it is "essential" to reduce federal expenditures.

Soundbite said Elon Musk, US tech billionaire, adviser to US President Donald Trump "It's not optional for us to reduce the federal expenses. It's essential. It's essential for America to remain solvent as a country.

And it's essential for America to have the resources necessary to provide things to its citizens, and not simply be servicing vast amounts of debt." "It's essential for America to remain solvent as a country," Musk said as he stands next to Trump in the Oval Office of the White House.