Since taking office in January, President Donald Trump has slashed government spending and dismantled entire federal agencies and programs, with billionaire Elon Musk and his Department of Government Efficiency leading the charge.

During a remote appearance at a Morgan Stanley tech conference, he said the government should "privatize everything we possibly can."

Trump said he was considering merging the Postal Service with the U.S. Commerce Department, a move Democrats said would violate federal law.