President Trump on Friday gave a vote of confidence in tech entrepreneur Elon Musk’s work on the Department of Government Efficiency (DOGE), saying that his billionaire ally is doing a “very good job.”

“Elon is doing a great job. He’s finding tremendous fraud and corruption and waste. You see it with the USAID [U.S. Agency for International Development], but you’re going to see it even more so with other agencies and other parts of government,” the president told reporters.

Trump added, “He’s got a staff that’s fantastic, he’s wanted to be able to do this for a long time.”

“I think we’re going to be very close to balancing budgets for the first time for many years."

DOGE has been tasked with overhauling the federal government, and this week, Musk’s team has received “read-only” access to sensitive Treasury Department payment systems and overran USAID, reportedly slashing its workforce of more than 10,000 employees to fewer than 300.

While talking to reporters in the Oval Office alongside Japanese Prime Minister Shigeru Ishiba, the president was asked for his response to the Time magazine cover that featured Musk behind the president’s Resolute Desk.

“Is Time magazine still in business? I don’t even know that,” Trump said, mocking the publication.

The president was named Time’s Person of the Year in December and rang the opening bell at the New York Stock Exchange to celebrate the release of the cover.

Trump also said Friday that Musk would take the podium at the White House to answer reporters’ questions, adding that Musk is “not shy.”

The president earlier this week suggested Musk can’t make big decisions without his approval, saying that the Tesla CEO wouldn't touch something if there's a conflict in decisionmaking.

Vice President Vance gave Musk’s team support earlier Friday when he argued that a DOGE staffer who resigned after social media posts of his came to light that espoused racist beliefs should be hired back.

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