WATCH: Trump delivers remarks at Saudi investment summit in Miami Beach, Fla. – PBS
President Donald Trump celebrated his slashing of federal government programs Wednesday as he spoke to a Miami conference of international investors and billionaires at a summit hosted by Saudi Arabia’s sovereign wealth fund.
Watch Trump’s remarks in the player above.
Trump’s speech kicked off the first day of the three day conference in Miami Beach’s Faena Hotel & Forum with speakers including global financial executors and tech company CEOs.
In his evening remarks, Trump touted the Department of Government Efficiency, claiming that it was “saving taxpayers billions and billions of dollars every single day.”
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He said under consideration is a concept where the administration gives 20 percent of DOGE’s savings to American citizens and 20 percent goes to paying down the national debt.
The president also praised Elon Musk, calling him a “very high IQ people,” and thanking Musk for being “in charge” of the so-called DOGE program.
On Tuesday, the White House tried to suggest Musk is not in charge of DOGE, insisting Musk has “no actual or formal authority” over government decisions.
Trump also continued to spread misleading claims about scores of very old Americans getting Social Security checks despite the new acting head of the agency saying that is not the case.
The president repeated false claims Wednesday about the program providing benefits to millions of people ages 110 or older.
Lee Dudek, who was named acting chief of the Social Security Administration by Trump, seemed to confirm Wednesday that confusion had arisen about people older than 100 receiving benefits because of the default settings on the agency’s database.
But Dudek said these people “are not necessarily receiving benefits.”