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Elon Musk: “I think there's like 20,000 people that work at the Fed…”

Featuring: Elon Musk, Senior Advisor to the President, Head of Department of Government Efficiency | National

Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency

Published March 30, 2025 | Video Starts at 34:37

Second of all, my question is, what is your opinion on the Federal Reserve and do you have any intentions of doing anything with them and the Fed? Yeah, I don't know. I always wanted to say that, but I think there's like 20,000 people that work at the Fed. Seems pretty high. There's a lot of people that work at the Fed on those things. Like, why do we have so many people at the Fed and what do they do? (34:37–34:42)

CLAIM

Asserts that approximately 20,000 people work at the Federal Reserve, suggesting this number is excessive.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Elon Musk

“Interest payments now exceed the entire budget of the military.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 35:55-36:02
“We found 20 million dead people mocked as alive in the Social Security database.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 42:30-42:37
“40% of the calls into Social Security were fraudulent.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:14:35-1:14:42
“The only two American car companies that have not gone bankrupt are Tesla and Ford.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:23:02-1:23:09
“Japan is in absolute population decline. So they're losing about, I think, roughly a million people a year.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:50:03-1:50:11
“Korea has only a third replacement rate, which means that in three generations, the country will be 3 or 4% of its current size.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:50:13-1:50:23
“The House majority right now is razor thin. It's really just a few seats.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 01:40-01:46
“If the Supreme Court is able to redraw the district, they will gerrymander the districts and deprive Wisconsin of two House seats on the…”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 01:47-01:59
“The result of that could be that the House switches to a Democratic House.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 02:01-02:08
“The reforms that we're getting done in D.C. thanks to President Trump and his great team, are really profound.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 02:29-02:44
“There is a tremendous amount of waste and fraud in the federal government.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 03:52-03:57
“The legacy media is in part to blame for this and maybe primarily to blame for this.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 06:00-06:05
“It's just indicative of the poor quality of education pushed by the National Department of Education.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 06:52-06:59
“Let the states decide on the educational agenda and not have something pushed by a bunch of NEO Marxists in D.C.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 07:05-07:12
“It's astounding how much anti American propaganda is pushed on kids today in schools.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 07:18-07:26
“Judges should be simply interpreting the law, not making the law.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 07:41-07:48
“Any federal judge can stop any action by the President, you know, of the United States.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 08:15-08:23
“It's quite shocking that...in New York and California, it's like illegal to show ID at an election.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 12:04-12:18
“What's happening on Tuesday is a vote for which party controls the U.S. House of Representatives.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 13:09-13:19
“The betting markets vary between 85% and 90% Probability of loss for Justice Schimmel.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 16:19-16:31
“The Dems are 100,000 votes ahead.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 17:04-17:08
“If the people that voted for President Trump simply vote on Tuesday, we will win.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 17:08-17:14
“With Grok, our aspiration is a maximally truth seeking AI.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 20:07-20:12
“There is a massive amount of corruption, but it is circuitous.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 23:01-23:08
“The government can send money to an NGO that is then no longer governed by the laws of the United States.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 23:31-23:38
“I'm highly confident that a bunch of that money then comes back to the United States and lands in the pockets of [wealthy members of…”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 23:43-23:49
“There were a lot of Republicans that were debanked thousands, which is really outrageous.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 25:43-25:50
“Violent protests overwhelmingly is coming from the left these days.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 25:59-26:04
“All of the legacy media and all of the new social media were in lockstep together and they were all parroting the same left wing talking…”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 27:35-27:45
“On the X platform, we don't prioritize one side or the other. We try to be as fair as possible.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 29:20-29:37
“There's a very big rise in the number of administrators, but not a very big rise in the number of teachers.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 33:36-33:44
“Administrative expense has gone ballistic, but teaching expense is more or less flat.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 34:01-34:07
“Government spending is not far in excess of government revenue. We have a deficit of $2 trillion.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 35:27-35:39
“The very simple, straightforward goal of the DOGE team is to get rid of waste and fraud.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 36:04-36:12
“We're trying to save a trillion dollars of expenditures.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 37:58-38:02
“The Democrat administration, the Biden administration, has basically taken every arm of the US Government and bent it towards creating a…”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 39:57-40:12
“They're actually spending at this point tens of billions to attract and retain illegals in the United States.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 40:58-41:06
“With the asylum program, they can get a green card within a year, and then they can get citizenship as quickly as four years after getting a…”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 41:20-41:33
“It was a massive, large scale program to import as many illegals as possible, ultimately to change the entire voting map of the United…”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 45:57-46:14
“New York tried to make it legal for illegal immigrants to vote in the state of New York that was only shut down by the New York Supreme…”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 49:51-50:08
“California has made it health care available to all illegals in the state.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 50:10-50:16
“They initially claimed that [healthcare for illegal immigrants in California] would only cost 3 billion. It's now 9 billion and climbing.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 50:16-50:21
“Federal Emergency Management Agency funds were being used to house illegals in luxury hotels in New York.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 51:26-51:34
“The time frame for going from asylum to citizen is roughly five years.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 52:02-52:08
“You can show basically, like a fake utility bill or, you know, a medical bill and school id. And you get a Social Security number.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 53:21-53:32
“If you turn the swing states blue, then there are no swing states. And then we're in a permanent one, one party system.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 53:42-53:50
“The same people who said, who are saying that there should be no voter ID at voting stations demanded vaccine ID from everyone.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 54:54-55:03
“Decentralization is good to minimize corruption.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:02:01-1:02:05
“We're trying to be as literal as possible. It just Department of Government Efficiency.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:02:13-1:02:19
“If it doesn't seem sensible, then we say, well, we shouldn't spend that money anymore and we should stop it.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:02:31-1:02:40
“All the Doge actions are posted on the doge.gov website and on the Doge handle on X.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:02:43-1:02:49
“At least for some period of time, we're going to make sure that your taxpayer money is spent at least 15% better.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:03:14-1:03:23
“If we have the combination of a trillion dollar increase in economic output and a trillion dollar decrease in the budget deficit, then the…”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:03:35-1:03:52
“Inflation is really just a pernicious tax that has been used by governments throughout history.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:04:10-1:04:16
“By reducing waste and fraud will essentially make the economy more efficient and will shift people resources from the government to the…”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:04:44-1:04:57
“Of the 7 trillion in government spending, let's try to see if we can make it 15% more efficient.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:07:31-1:07:36
“We found there were a whole bunch of what I call ghost payments going out where the government contracting officer had retired or changed…”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:10:03-1:10:21
“We made a recommendation to the treasury that the payment classification codes and the explanation for the payment be mandatory fields and…”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:10:50-1:11:07
“The government could not pass an audit because the information did not exist that would be required to pass an audit.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:11:22-1:11:32
“My guess is this will probably save $100 billion a year.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:12:02-1:12:06
“The actual thing we're doing is making sure that people do get their Social Security and that it doesn't get stolen.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:18:35-1:18:42
“It is actually possible to both register to vote on Tuesday. If someone has not registered to vote, they can register to vote in Wisconsin…”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:20:26-1:20:36
“There is over $30 trillion of national debt and that doesn't count future obligations.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:24:34-1:24:45
“A country collectively can also go de facto bankrupt, essentially by diluting the currency to where it's worthless.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:25:22-1:25:31
“Unless we take immediate and dramatic action with respect to government spending, we're in deep trouble.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:25:32-1:25:45
“As government spending is made more efficient and spending is reduced, the tax buyer inflation is reduced.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:28:32-1:28:39
“The more people in a country that are engaged in producing useful products and services, the better off that country will be.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:29:36-1:29:45
“The birth rate in the United States has been below replacement rate since roughly when I was born around 1970, 71.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:31:43-1:31:51
“I think last year was the lowest birth rate on record.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:31:52-1:31:56
“We're seeing this trend [of low birth rates] in almost every country on Earth.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:31:58-1:32:03
“It seems like some companies are not being charged the right amount for package delivery.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:34:26-1:34:32
“There's probably more administrative overhead [in the Postal Service] than there should be.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:34:32-1:34:36
“The state can take your kid in California if you don't respect [a 10-year-old's pronouns].”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:39:46-1:40:05
“We plan to build two towers at the Cape in Florida and then probably some more elsewhere in the future.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:41:18-1:41:26
“Neuralink has had in monkeys a working device we call Blindsight.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:42:12-1:42:24
“We're hoping later this year to do our first device implant for human, enabling someone who is completely blind to see.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:42:26-1:42:36
“We should restore the Smith-Mundt Act so that the government cannot spy or issue propaganda to the people.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:44:00-1:44:09
“DOGE will absolutely ensure that people get their Social Security, make sure they get their Social Security, make sure they get their…”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:46:55-1:47:09
“America needs to be financially solvent. You know, that's what DOGE is about, trying to just make sure America is financially solvent.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:50:56-1:51:07
“Brad's election could decide the future of the House of Representatives.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:52:04-1:52:08
“It could decide then the future of America and the future of the world.”
Elon Musk's Speech on Wisconsin Supreme Court Race and Government Efficiency | Uploaded March 30, 2025 | 1:53:14-1:53:18