PULSE POINTS:
What Happened: WarRoom host and former White House chief strategist Stephen K. Bannon contends Elon Musk and the Department of Government Efficiency (DOGE) need to open the agency’s books for public scrutiny after the billionaire tech mogul drastically reduced its spending cut targets. Bannon reiterated his continued support for President Donald J. Trump’s Treasury Secretary Scott Bessent.
Who’s Involved: Stephen K. Bannon, Elon Musk, Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and President Donald J. Trump.
Where & When: Remarks were made at the World Economy Summit in Washington, D.C. on Wednesday, April 23.
Key Quote: Bannon stated that DOGE is a “blunt force instrument” meant to “deconstruct this choking administrative state,” but emphasized the need for accountability and transparency.
Impact: Bannon’s comments may increase scrutiny of Musk, reflecting ongoing disputes over governmental roles and policies since Trump’s return to office.
IN FULL:
Former Trump White House chief strategist Stephen K. Bannon is arguing that the American people need to be given a closer look at the Department of Government Efficiency’s (DOGE) books, and guarantees that all of the data it has accessed and created will remain with the Trump administration. Bannon’s remarks were made Wednesday at the World Economy Summit in Washington, D.C., and come as DOGE’s chief advisor, billionaire technology mogul Elon Musk, says he will reduce his role with the agency significantly in May.
Notably, Musk has dramatically reduced the spending cuts targeted by DOGE, from $2 trillion in late 2024 to $1 trillion earlier this year, with his latest claim being that the agency is on track to achieve a comparatively modest $150 billion in reductions.
“He’s questioning the integrity of the system. We need to have a very specific accounting of what he found, as far as fraud goes, and waste… None of this makes sense. The cuts you’ve seen that have been announced are programmatic,” Bannon said on Wednesday, arguing that DOGE is a “blunt force instrument” but necessary to “deconstruct this choking administrative state.”
“Also, I think we have to have a letter of certification that not one data set or piece of data of the United States government or citizens of this country are held by anybody except for the Trump administration,” Bannon continued, before shifting to address the increasing role and importance of President Donald J. Trump’s Treasury Secretary Scott Bessent.
“President Trump’s a very sophisticated businessman, but Scott is a safe pair of hands that understands capital markets deeply,” the WarRoom host said, adding: “He’s done this for 30 years. He has a very strong sense of what markets need to hear as far as information goes.”
Bannon has been a staunch advocate for Bessent, who is seen as a leading economic mind and someone deeply knowledgeable on monetary policy and macroeconomic analysis. In contrast, Musk was part of a camp that pushed for current Commerce Secretary Howard Lutnick to serve as Treasury Secretary.
“I’ll be blunt: if Howard Lutnick had been Secretary of the Treasury, it would have been an unmitigated disaster,” the former White House chief strategist said. Bannon added: “This is about people putting their own interests first, like Elon, versus putting the nation’s interest first.”
WATCH:
show lessSteve Bannon tells @semaforben he views Scott Bessent as “a safe pair of hands,” but believes Howard Lutnick would have been an “unmitigated disaster” as Treasury Secretary #WorldEconomySummit pic.twitter.com/7dXWs7xJJV
— Semafor (@semafor) April 23, 2025