Lutnick says Musk will cut $1 trillion in waste while administration earns $1 trillion revenue to balance budget.
“Elon Musk is gonna cut a trillion of waste, fraud, and abuse, and we are gonna earn a trillion dollars of revenue, and we are gonna balance the budget for Donald Trump.”
Lutnick proposes selling 400,000 green cards at $5 million each would generate $2 trillion and eliminate the deficit.
“Do realize if we sold those 400,000 a year for 5,000,000 each? You know, that's $2,000,000,000,000 every time. 2,000,000,000,000. We'd have no budget deficit. We could lower taxes on America.”
Lutnick predicts Trump will balance the budget and interest rates will drop 150 basis points during his term.
“Let Donald Trump is going to balance the budget of The United States Of America. Interest rates are gonna drop a 150 basis points during his term.”
Lutnick claims the administration will cut a trillion in expenses and raise a trillion in new revenues.
“I think we're going cut a trillion dollars a year in expense, and then I think we can, through tariffs and other means, we're going to get revenues of a trillion dollars.”
Lutnick insists he is present to discuss the budget rather than other topics.
“But I am here today to testify about the budget, and I look forward to discussing the president's budget with you today.”
Lutnick redirects to budget testimony while reiterating his voluntary commitment to answer all questions within two weeks.
“But I am volunteering within two weeks to answer any and all questions on this topic.”