LIVE | Trump’s Cabinet Meeting Shocker: Musk Reveals $100K Loan to a Baby in SBA Scandal |World News

LIVE | Trump’s Cabinet Meeting Shocker: Musk Reveals $100K Loan to a Baby in SBA Scandal |World News

Elon Musk, speaking at a cabinet meeting with President Donald Trump, revealed that the Small Business Administration (SBA) issued $330 million in loans to children under 11, including a $100,000 loan to a 9-month-old, as part of findings by the Department of Government Efficiency (DOGE).

The disclosure, which Musk described as "a clear case of fraud," aligns with DOGE's ongoing efforts to root out waste in federal spending, following a prior report of $312 million in loans to nearly 5,600 children during the COVID-19 pandemic.

Trump emphasized his administration's focus on cost-cutting, stating that Musk would intervene if department leaders failed to implement sufficient reductions.