Trump mocks Time magazine, suggests he didn't know it was 'still in business,' in response to Elon Musk cover

"Is Time magazine still in business? I didn't even know that," Trump said as laughter could be heard in the room. 

"Elon is doing a great job. He's finding tremendous fraud and corruption and waste. You see it with the USAID, but you're going to see it even more so with other agencies and other parts of government. He's got a staff that's fantastic," Trump added. "He's wanted to be able to do this for a long time."

Musk has gone after the U.S. Agency for International Development (USAID) when cracking down on government spending. Trump said he is pleased with the progress and said other government agencies will also be impacted by DOGE. 

"The whole thing is a fraud. Very little being put to good use. Every single line that I look at, in terms of events and transactions, is either corrupt or ridiculous and we're going to be doing that throughout government, and I think we're going to be very close to balancing budgets for the first time in many years," Trump said. 

"He's doing a very good job," Trump continued. "I'm very happy with it."