00:00The billionaire appointed by Donald Trump to shrink the U.S. government said on Monday
00:04he aimed to shatter the globe's premier foreign aid agency.
00:08Elon Musk, the founder of Tesla and SpaceX and the owner of the ex-social media platform,
00:13gave an update where he said the United States Agency for International Development, or USAID,
00:18was quote, beyond repair.
00:19USAID is the world's largest single donor.
00:23In fiscal year 2023, the U.S. disbursed $72 billion of assistance worldwide on everything
00:28from women's health and conflict zones to access to clean water and HIV-AIDS treatments.
00:34It was the source of 42 percent of all humanitarian aid tracked by the United Nations in 2024,
00:40and has a staff of more than 10,000 people.
00:43Trump has ordered a global freeze on most U.S. foreign aid as part of his America First
00:47policy.
00:48Field hospitals and Thai refugee camps, landmine clearance in war zones, and drugs to treat
00:53millions suffering from diseases are among the programs at risk of elimination.
00:57USAID also sends rescue workers to assist when disaster strikes around the globe.
01:01Trump has assigned Musk to lead a federal cost-cutting panel.
01:04Speaking broadly about cost reductions, Musk estimated the Trump administration can cut
01:08$1 trillion from the U.S. deficit next year.
01:11And he asserted that quote, professional foreign fraud rings are stealing vast sums by masquerading
01:16as or creating fake digital U.S. citizens.
01:20Musk did not offer any evidence to support his fraud claim or explain how he reached
01:25the amount of $1 trillion.
01:26Targeting USAID follows on concerns about Musk's access to the U.S. Treasury system,
01:32first reported by the New York Times, that sends out more than $6 trillion per year in
01:36payments on behalf of federal agencies.
01:39That system contains the personal information of millions of Americans who receive Social
01:43Security payments, tax refunds, and other money from the government.
01:47Democrat Peter Welch, a member of the Senate Finance Committee, called for explanations
01:51as to why Musk had been handed access to the payment system and what Welch said included
01:55taxpayer-sensitive data.
01:57Quote, it's a gross abuse of power by an unelected bureaucrat and it shows money can buy power
02:01in the Trump White House, Welch said in an emailed statement.
02:05Trump stated on Sunday night that Musk has his support.
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