What is the financial goal of Trump and Musk's Department of Government Efficiency (DoGE)?

Following a court ruling that allowed Elon Musk's Department of Government Efficiency to proceed despite lawsuits from 14 Democratic states, Trump and Musk immediately reaffirmed their commitment to drastically reduce government spending. According to the transcript, they explicitly stated that the goal of the department is to cut approximately one trillion dollars from the federal deficit. This ambitious target represents a significant shift in fiscal policy, coming shortly after the judge denied requests for a temporary restraining order against DoGE while acknowledging concerns about Musk's expanding authority in government operations.