Elon Musk's Crusade to Reshape U.S. Foreign Aid

Billionaire Elon Musk, leading a federal cost-cutting effort under President Trump's administration, discusses plans to shut down USAID. Amidst controversies and firings within the agency, there's speculation about Musk's extensive access to federal systems, stirring debates over American governance and foreign aid policies.

Elon Musk, the billionaire entrepreneur steering Trump's federal cost-cutting initiative, revealed plans to dismantle the U.S. Agency for International Development (USAID). Speaking to a group including Vivek Ramaswamy and Republican Senators Joni Ernst and Mike Lee, Musk declared USAID beyond repair, with Trump's agreement.

The proposed shutdown, coupled with recent firings of top USAID security officials, underscores a major shift in U.S. foreign aid policy. Musk's comments also spotlight his expansive access to U.S. financial systems, prompting concerns among policymakers and a call for transparency from Senator Peter Welch.

Musk, supported by Trump, envisions a $1 trillion deficit reduction by tackling fraud. However, the move has ignited a debate over Musk's power in the administration and its implications on federal systems access and aid efficiency worldwide.

(With inputs from agencies.)