TMTPOST -- Bill Gates expressed support for Elon Musk's DOGE initiative in a recent interview with the Wall Street Journal, calling it a "valuable" effort aimed at addressing government inefficiencies. Gates also emphasized the need to reduce the federal budget deficit, warning that failure to do so could lead to financial challenges. "I think the idea of applying a zero-based budgeting approach to government expenditures could be a valuable thing," Gates stated. "I'm among those who believe the deficit needs to be brought down, as it could create financial problems for us in the future. This initiative could yield positive results." DOGE, which has seen some leadership changes, including the departure of businessman Vivek Ramaswamy as co-lead, focuses on tackling inefficiencies in government spending and reducing the deficit. Initially, Musk set an ambitious goal to cut $2 trillion in federal spending. However, during a discussion with political strategist Mark Penn earlier in January, Musk revised the target, calling the $2 trillion figure a "best-case outcome," and stating that the commission had a "good shot" at saving $1 trillion. On Friday, DOGE revealed it had canceled about $420 million in existing or future contracts, along with two leases. Despite these moves, Business Insider's calculations suggest the commission may need to adopt even more aggressive spending cuts to meet its objectives.