Elon Musk's budget cuts fall short amid Trump's new bill
Elon Musk, leading the U.S. government efficiency department, claims he saved €169.65 billion, although he had promised to save €1.94 trillion. According to Axios, the actual savings are €15.21 billion.
Elon Musk, who headed the DOGE team, was tasked with reducing U.S. budget expenditures by €1.94 trillion. However, as the Axios portal reports, the actual savings amount to only €15.21 billion. Musk claims he managed to save €169.65 billion, which is far from the original promises.
During the election campaign, Musk promised that his actions would significantly reduce expenditures, cut unnecessary regulations, and eliminate redundant jobs. However, as we read, the effects of his work are minimal, and many people lost their jobs without an apparent reason.
New budget bill
Musk's savings may be negated by a new budget bill pushed by Donald Trump. This project, referred to by the president as a "big, beautiful bill," proposes tax cuts and increased spending, which economists say could increase the U.S. budget deficit by €2.93 trillion over 10 years.
At the end of last year, Musk, along with Vivek Ramaswamy, a former presidential candidate, announced mass layoffs of federal officials to achieve savings. However, the "New York Times" calculated that even the complete cutting of non-defence-related discretionary government spending would not bring the expected savings.
On Tuesday, Musk, who will soon leave the White House, thanked Trump for the "chance to cut unnecessary government spending."
The crucial term here is "chance"—he was given the opportunity to accomplish something meaningful. Yet, he remained inactive and ultimately cut thousands of jobs without an apparent reason, Bloomberg observed.
