Welt Hok
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy
No Result
View All Result
Welt Hok
No Result
View All Result
Home Latest News

Musk confident DOGE will save $1 trillion as government cost cutting continues

admin by admin
May 30, 2025
in Latest News
0
Musk confident DOGE will save $1 trillion as government cost cutting continues

Tesla and SpaceX CEO Elon Musk wrapped up his time as the public face of DOGE in a press conference with President Donald Trump on Monday, leaving behind a total estimated $175 billion in government cost-cutting over the past few months. 

The $175 billion in savings from slashing government contracts, selling assets, identifying improper payments, and other cost-cutting measures amounts to $1,086.96 per each individual taxpayer, according to the DOGE website. 

The cuts took place all across the government, highlighted by a complete dismantling of USAID, where 83% of the agency’s programs and 5,200 contracts were canceled following the conclusion of a six-week review by DOGE.

Trump discussed some of the other more significant cuts in the Friday press conference.

$20 million for Arab Sesame Street in the Middle East,’ Trump said. ‘Nobody knows what that’s all about. Nobody’s been able to find it. $8 million for making mice transgenders. So they spent $8 million in making mice transgender. And those are better than many others. I could sit here all day and read things just like that.’

While some outlets, including The New York Times and BBC News, have disputed DOGE’s $175 billion estimate and argued the true number is smaller, Musk told reporters in the Oval Office on Friday that the savings will continue to build, and he is confident the total cuts will amount to $1 trillion in the coming years. 

The DOGE influence will only grow stronger,’ Musk said. ‘I liken it to a sort of person of Buddhism. It’s like a way of life so it is permeating throughout the government. And I’m confident that over time, we’ll see $1 trillion of savings, and a reduction in $1 trillion of waste, fraud reduction.’

Additionally, Musk said that the DOGE cuts would soon hit the $200 billion threshold for fiscal year 25-26.

From the start, DOGE was hit with not only a tsunami of negative press and outraged Democratic lawmakers, but also a series of lawsuits, which bogged it down in protracted legal battles as Musk struggled to reach his original estimates of $1-2 trillion in cuts. 

This, coupled with the reality of most of the major end cuts requiring congressional approval to carry out, relegated DOGE’s impact on cutting around the edges of the big programs and agencies it likely would have liked to eliminate entirely.

Musk was asked on Friday what the biggest ‘roadblock’ was for him at DOGE.

‘It’s mostly just a lot of hard work,’ Musk responded. ‘It’s really not any one person or Congress. It’s going through really millions of line items and saying just each one of them makes sense or does not make sense.’

‘Obviously, at times when you cut expenses, those who are receiving the money, whether they receive, whether they’re receiving that money legitimately or not. They do complain, and you’re not going to hear someone confessing that they received money inappropriately. Never. They’re going to always say that they received money appropriately for a report. Of course, naturally, that’s what you’d expect.’

Fox News Digital’s Peter Pinedo contributed to this report.

This post appeared first on FOX NEWS
Previous Post

Who will be Elon’s successor? The top names in line for DOGE chief

Next Post

Trump tariff plan faces uncertain future as court battles intensify

Next Post
Trump tariff plan faces uncertain future as court battles intensify

Trump tariff plan faces uncertain future as court battles intensify

  • Trending
  • Comments
  • Latest
Trade Surplus: Key Insights and Impacts on Currency

Trade Surplus: Key Insights and Impacts on Currency

August 30, 2024
Mike Johnson re-elected House speaker as GOP mutiny threat dissolves

Mike Johnson re-elected House speaker as GOP mutiny threat dissolves

January 3, 2025
House Republicans introduce bill to repurchase Panama Canal after Trump raises concerns of Chinese control

House Republicans introduce bill to repurchase Panama Canal after Trump raises concerns of Chinese control

January 9, 2025
Who is Giorgia Meloni? Trump hosts Italian PM at Mar-a-Lago

Who is Giorgia Meloni? Trump hosts Italian PM at Mar-a-Lago

January 5, 2025
Senate Republicans eye changes to Trump’s megabill after House win

Senate Republicans eye changes to Trump’s megabill after House win

0
Candidate who filmed himself in the Capitol on Jan. 6 seeks House seat

Candidate who filmed himself in the Capitol on Jan. 6 seeks House seat

0
Biden nearly died of an aneurysm. Risky surgery changed his life.

Biden nearly died of an aneurysm. Risky surgery changed his life.

0
Stellar and Bitcoin Cash: Stellar still in a bearish trend

Stellar and Bitcoin Cash: Stellar still in a bearish trend

0
Senate Republicans eye changes to Trump’s megabill after House win

Senate Republicans eye changes to Trump’s megabill after House win

June 1, 2025
Trump shares post saying Biden was executed, replaced with clones

Trump shares post saying Biden was executed, replaced with clones

June 1, 2025
House Dems’ campaign chair says her party’s ‘on offense’ in 2026 battle to win back majority from GOP

House Dems’ campaign chair says her party’s ‘on offense’ in 2026 battle to win back majority from GOP

June 1, 2025
Trump warns Rand Paul he’s playing into ‘hands of the Democrats’ with ‘Big, Beautiful Bill’ opposition

Trump warns Rand Paul he’s playing into ‘hands of the Democrats’ with ‘Big, Beautiful Bill’ opposition

June 1, 2025
Enter Your Information Below To Receive Trading Ideas and Latest News

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
    • Trending
    • Comments
    • Latest
    Trade Surplus: Key Insights and Impacts on Currency

    Trade Surplus: Key Insights and Impacts on Currency

    August 30, 2024
    Mike Johnson re-elected House speaker as GOP mutiny threat dissolves

    Mike Johnson re-elected House speaker as GOP mutiny threat dissolves

    January 3, 2025
    House Republicans introduce bill to repurchase Panama Canal after Trump raises concerns of Chinese control

    House Republicans introduce bill to repurchase Panama Canal after Trump raises concerns of Chinese control

    January 9, 2025
    Who is Giorgia Meloni? Trump hosts Italian PM at Mar-a-Lago

    Who is Giorgia Meloni? Trump hosts Italian PM at Mar-a-Lago

    January 5, 2025
    Senate Republicans eye changes to Trump’s megabill after House win

    Senate Republicans eye changes to Trump’s megabill after House win

    0
    Candidate who filmed himself in the Capitol on Jan. 6 seeks House seat

    Candidate who filmed himself in the Capitol on Jan. 6 seeks House seat

    0
    Biden nearly died of an aneurysm. Risky surgery changed his life.

    Biden nearly died of an aneurysm. Risky surgery changed his life.

    0
    Stellar and Bitcoin Cash: Stellar still in a bearish trend

    Stellar and Bitcoin Cash: Stellar still in a bearish trend

    0
    Senate Republicans eye changes to Trump’s megabill after House win

    Senate Republicans eye changes to Trump’s megabill after House win

    June 1, 2025
    Trump shares post saying Biden was executed, replaced with clones

    Trump shares post saying Biden was executed, replaced with clones

    June 1, 2025
    House Dems’ campaign chair says her party’s ‘on offense’ in 2026 battle to win back majority from GOP

    House Dems’ campaign chair says her party’s ‘on offense’ in 2026 battle to win back majority from GOP

    June 1, 2025
    Trump warns Rand Paul he’s playing into ‘hands of the Democrats’ with ‘Big, Beautiful Bill’ opposition

    Trump warns Rand Paul he’s playing into ‘hands of the Democrats’ with ‘Big, Beautiful Bill’ opposition

    June 1, 2025

    Top News

    Senate Republicans eye changes to Trump’s megabill after House win

    Senate Republicans eye changes to Trump’s megabill after House win

    June 1, 2025
    Trump shares post saying Biden was executed, replaced with clones

    Trump shares post saying Biden was executed, replaced with clones

    June 1, 2025

    Latest News

    • Senate Republicans eye changes to Trump’s megabill after House win
    • Trump shares post saying Biden was executed, replaced with clones
    • House Dems’ campaign chair says her party’s ‘on offense’ in 2026 battle to win back majority from GOP

    About Welthok

    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions
    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 welthok.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Latest News
    • Editor’s Pick
    • Economy

    Copyright © 2025 welthok.com | All Rights Reserved