Bernie Sanders: ‘Elon Musk Is Right’ On Wasteful Defense Spending

On Sunday, Sen. Bernie Sanders (I-Vt.) took to social media to express his agreement with Elon Musk regarding the Pentagon’s financial management.

What Happened: Sanders highlighted the Pentagon’s $886 billion budget and its failure to pass audits for the seventh consecutive year in a post on X.

He pointed out that billions have gone unaccounted for, emphasizing the need for reform. Sanders noted that only 13 senators opposed the defense budget last year, which he described as being riddled with waste and fraud. He stressed, “That must change.”

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Musk responded to Sanders’ post by posting two U.S. flag emojis. Notably, the Vermont senator has been a vocal critic of Musk. Earlier this year, he criticized the entrepreneur’s reported donations to former President Donald Trump’s campaign, while advocating for publicly funded elections

Why It Matters: Sanders’ statement comes amid broader debates on military spending and technological advancements in warfare.

Recently, Musk has been vocal about transforming military strategies, advocating for drones and AI over traditional fighter jets.

Musk, appointed by Trump to co-lead the Department of Government Efficiency (DOGE), criticized the F-35 program, advocating for drones over manned jets. Musk called manned jets like the F-35 outdated, sparking a defense from the Pentagon and Lockheed Martin, who highlighted the jet’s global demand despite cost overruns and delays. Musk’s remarks aligned with his broader concerns about government overspending and fiscal responsibility.

DOGE, led by Musk and Vivek Ramaswamy, aims to cut wasteful federal spending, raising concerns for defense contractors as the $877 billion defense budget faces scrutiny. While defense stocks risk a downturn, government IT firms specializing in AI, cybersecurity, and efficiency technologies could emerge as winners in this sector shakeup.

Despite ongoing discussions about wasteful defense spending, some exchange-traded funds in this sector have climbed since Trump’s election. The iShares US Aerospace & Defense ETF ITA gained nearly 7.1% during this time, while the Global X Defense Tech ETF SHLF surged 39.2%.

Image via Shutterstock

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal