Trump rambles incoherently about 'new theory' of magnets during rant on 'fraud'

President Donald Trump complained about a "new theory" on magnets in a rant against waste, fraud, and abuse.

During Wednesday's remarks at the White House, Trump was asked how he could be sure Elon Musk's so-called Department of Government Efficiency was properly cutting spending.

"There's tremendous fraud," the president insisted. "And it's hard to believe that you can have that kind of fraud... What we're going to do is, tomorrow I'm having a news conference. I'm going to read to you some of the names that hundreds of millions and even billions of dollars have been given to."

"And if you tell me that we should be giving money to those things, those entities, I think you'll probably have to leave as a reporter because you're not very talented," he told a reporter. "When you look at the kind of money, billions and billions of dollars being thrown away illegally."

Trump blamed, without providing evidence, airplane manufacturer Boeing for some fraud.

"You know, Boeing, we're not happy with the service we're getting in terms of those planes," he ranted. "Look at — take a look at the Gerald Ford, the aircraft carrier, the Ford. It was supposed to cost $3 billion. It ends up costing like $18 billion."

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"And they have all magnetic elevators to lift up 25 planes at a time, 20 planes at a time," Trump continued. "And instead of using hydraulics, like on tractors that can handle anything from hurricanes to lightning to anything, they use magnets."

"It's a new theory. Magnets are going to lift the planes up and it doesn't work. And they had billions and billions of dollars of cost overruns."

Watch the video below from Newsmax.