IN THIS ARTICLE: Elon Musk's Department of Government Efficiency (D.O.G.E.) wants to cut $2 trillion in federal spending, but it's an impossible plan that could hurt the U.S. economy
Although D. O. G. E. is pushing for massive job cuts, agency closures and deregulation, the majority of federal spending remains intact, leaving little room for real savings.
Aaron's opposition to a bipartisan spending agreement nearly led to government shutdowns, but his influence could lead to further fiscal problems under the Trump administration.
the CEO of #Tesla billionaire #Elon Musk, along with Vivek Ramaswamy, has been named to lead the newly created Department of Government Efficiency (D. O. G. E. ) under the administration of "crypto-president" Donald Trump.
the goal is to reduce federal government spending by $2 trillion. The goal is. That's roughly in line with the projected U. S. budget deficit in 2024. The problem, however, is that this project could fail. The new D. O. G. E. line code. - isn't even a real government department. It's an advisory body. Nothing can be implemented without Congress or Trump's signature. However, Elon's name carries weight. His involvement alone has made this more than just a theoretical exercise.
The plan is aggressive, with mass layoffs, the elimination of departments and agencies, and reduced regulation. President Trump and his allies have welcomed it, but skeptics are sounding the alarm about the potential consequences.
Eron and Vivek plan to cut government staff by 75%. If the D. O. G. E. initiative goes through, three-quarters of federal employees will be on entry-level pay.
But how realistic is that? Not very, experts say. That's because about 75% of the federal budget is mandatory spending. Programs such as Social Security and Medicare cannot be touched, so as not to cause a massive political reaction. In other words, only discretionary spending (about $1.7 trillion) will be subject to cuts. Half of that is defense spending, which Trump and his allies are unlikely to touch.
He overestimated his budget and called it wasteful.
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