Shocking Plan by Elon Musk to Cut $2 Trillion from US Budget

user avatar

by Giorgi Kostiuk

2 years ago


Elon Musk has once again taken center stage with his proposal to cut $2 trillion from U.S. federal spending through the Department of Government Efficiency (D.O.G.E). This plan has sparked unexpected alliances and heated debates in Washington.

Support for Musk's Plan from Democrats

The D.O.G.E movement, co-led by Musk and Vivek Ramaswamy, has gained traction among Democrats. Florida Representative Jared Moskowitz became the first Democrat to join this movement, advocating for Musk's government efficiency goals. Ohio Democrat Greg Landsman soon followed, emphasizing the importance of being in such meetings. The inaugural D.O.G.E caucus brought together a surprising mix of attendees, including Democrats Steven Horsford of Nevada and Val Hoyle of Oregon.

Debate on Spending Cut Proposals

Despite the support, Musk does not have carte blanche. Ro Khanna has drawn a clear line, pledging to protect programs like Medicare, veterans' benefits, and the Environmental Protection Agency. Val Hoyle echoed support for drug price reductions but opposed cuts to essential services like Social Security, the postal service, and the FAA.

Criticism and Controversies Surrounding the Plan

While Musk received praise for focusing on Pentagon spending cuts, he faces criticism for his broader plans. Public policy professor Don Moynihan highlighted that it's impossible to cut $2 trillion without impacting popular programs like Social Security and veterans' benefits, which make up two-thirds of the budget. Musk also expressed dissatisfaction with the Federal Reserve, noting its large staff of 24,000 across 12 regional banks.

The full impact of Musk's plan remains unclear, but his influence in Washington continues to increase, facing both opposition and gaining support.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Other Crypto Funds Experience Significant Withdrawals

Other cryptocurrency ETF categories, including Solana and XRP, recorded significant withdrawals, indicating a broader trend of selling pressure.

user avatarSatoshi Nakamura

MEGA Plans AI Marketplace Launch for December

MEGA is set to launch an AI inference marketplace in December, allowing customers to access services from various AI model providers.

user avatarNguyen Van Long

MEGA Reduces Workforce to Shift Focus to AI Products

MEGA has laid off 20 employees as part of a restructuring to expand into artificial intelligence, moving beyond its blockchain infrastructure.

user avatarKofi Adjeman

Institutional Withdrawals from Crypto ETFs Reach Over $1 Billion

Institutional demand for crypto ETFs has weakened significantly, with US spot Bitcoin ETFs experiencing over $1 billion in withdrawals for the second consecutive week.

user avatarJesper Sørensen

Ethereum Staking Hits Record Levels Despite Price Drop

Ethereum's staking rate has surged to an all-time high of 36.3% of total supply, even as the price of ETH has fallen to around $2,000.

user avatarRajesh Kumar

Jane Street Boosts Bitcoin ETF Holdings Amid Market Changes

Jane Street has significantly increased its stake in major Bitcoin ETFs, particularly in Fidelity's Wise Origin Bitcoin Fund, reflecting strong client demand and trading activity in the Bitcoin market.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.