• 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

BYDFi 5th Anniversary: Innovation and Web3 in Focus

BYDFi celebrates its 5th anniversary: history of growth and Web3 adoption.

user avatarGiorgi Kostiuk

8 minutes ago

Ethereum Price May Drop Due to Weak Stock Market

Analyst Benjamin Cowen predicts Ethereum's price may decline owing to stock market weakness and macroeconomic factors.

user avatarGiorgi Kostiuk

9 minutes ago

Trump's Tariffs Shake Crypto and Global Markets

Trump's tariffs caused a sharp drop in crypto and global markets: Fear Index plummets to 25.

user avatarGiorgi Kostiuk

9 minutes ago

Qubetics Cryptocurrency: Interoperability and Growth Potential

Qubetics offers unique blockchain interoperability and promises high growth potential.

user avatarGiorgi Kostiuk

9 minutes ago

Cryptocurrencies in National Reserve: US Initiative

Donald Trump's announcement of a US crypto reserve including Bitcoin and Ethereum sparks a global discussion on digital assets.

user avatarGiorgi Kostiuk

10 minutes ago

XRP Price Update: Preparing for a Downturn?

XRP holds near the $2 level; market analysis shows potential shifts in the crypto market.

user avatarGiorgi Kostiuk

16 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.