• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

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

user avatar

by Giorgi Kostiuk

3 months 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.

0

Share

Other news

Analyzing North Korea's $1.5 Billion Crypto Heist

North Korea stole $1.5B from Bybit in 2025 using sophisticated hacking strategies.

user avatarGiorgi Kostiuk

4 minutes ago

Trump's Policies and Their Impact on Cryptocurrencies: Market Trends

Cryptocurrencies face new challenges due to Trump's policies affecting the global market.

user avatarGiorgi Kostiuk

4 minutes ago

Sony Singapore Integrates Cryptocurrency Payments for Users

Sony Singapore to accept USDC with Crypto.com, plans to expand cryptocurrency payment options.

user avatarGiorgi Kostiuk

5 minutes ago

PumpFi: Ape Now, Pay Later Solution for All Solana Assets

PumpFi allows Solana users to buy now and pay later for digital assets with no credit checks.

user avatarGiorgi Kostiuk

5 minutes ago

Revolut Warns of WhatsApp Scams Averaging £2,437 in Loss

Revolut's report reveals average WhatsApp scam losses in the UK at £2,437. Cybercrime is on the rise.

user avatarGiorgi Kostiuk

6 minutes ago

Bitcoin's Dominance Grows as Price Stabilizes at $84K

Bitcoin's price fluctuated but stabilized at $84K, dominance in the crypto market increased.

user avatarGiorgi Kostiuk

13 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

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.