• 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

a year 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

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Sam Bankman-Fried Hints at New Token for FTX Victims Amid Legal Challenges

chest

Sam Bankman-Fried hints at a new token project aimed at repaying FTX victims, despite facing significant legal challenges.

user avatarTomas Novak

Kraken Introduces CFTC-Regulated Perpetual Futures for Professional Traders

chest

Kraken has launched CFTC-regulated perpetual futures for eligible institutional and professional clients through its Bitnomial integration.

user avatarKaterina Papadopoulou

Michael Saylor Advocates for Bitcoin as Pure Digital Capital

chest

Michael Saylor emphasizes that Bitcoin should remain a pure digital asset, separate from yield-bearing crypto systems.

user avatarMaya Lundqvist

Bitcoin Tests Global Liquidity Assumptions

chest

Bitcoin is currently testing the assumption that rising global liquidity will lead to higher prices, as global M2 liquidity reaches a record high.

user avatarLeo van der Veen

Switzerland to Host US-Iran Memorandum Signing on June 19, 2026

chest

Switzerland is set to host a US-Iran memorandum signing on June 19, 2026, involving Qatar and Pakistan as mediators.

user avatarLi Weicheng

Aztec Connect Smart Contract Exploited for $219 Million

chest

A deprecated Aztec Connect smart contract has been exploited for about $219 million, highlighting the risks associated with old contracts in DeFi.

user avatarAisha Farooq

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.