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Started By
Message
Musk backtracking on finding $2 trillion in budget cuts
Posted on 1/9/25 at 7:44 am
Posted on 1/9/25 at 7:44 am
12
Posted on 1/9/25 at 7:54 am to bigjoe1
Well even 1 trillion is unrealistic unless he wants to make cuts to medicaid and social security, which is political suicide for those in Congress.
Even if he laid off every govt worker in the USA it would only save 300B.
I think this is Musk finds himself after pulling a number out of his butt and now has to slowly walk it back. By July they will act like 1 trillion was an unrealistic goal
Even if he laid off every govt worker in the USA it would only save 300B.
I think this is Musk finds himself after pulling a number out of his butt and now has to slowly walk it back. By July they will act like 1 trillion was an unrealistic goal
Posted on 1/9/25 at 8:01 am to bigjoe1
Let’s start with a budget and stick to it.
Posted on 1/9/25 at 8:08 am to tigerfoot
quote:
Let’s start with a budget and stick to it.
Oh I agree. Let's cut as much fraud and waste as possible and then restrain
spending.
Posted on 1/9/25 at 8:13 am to UltimaParadox
quote:
Well even 1 trillion is unrealistic
I disagree. they will have NO issue finding at least 1 trillion in wasteful spending. Having congress or agencies do anything about it is unlikely though.
Posted on 1/9/25 at 10:57 am to UltimaParadox
quote:I think 100% of fed payroll is like $100B.
Even if he laid off every govt worker in the USA it would only save 300B.
Posted on 1/9/25 at 11:07 am to Big Scrub TX
quote:
I think 100% of fed payroll is like $100B.
but what is the associated pension liability on top of that.......
Posted on 1/9/25 at 11:14 am to tigeraddict
quote:Not sure, but when Musk discussed firing people before, it was couched in terms of extremely generous severance packages.
but what is the associated pension liability on top of that......
Posted on 1/9/25 at 12:04 pm to bigjoe1
quote:it's all mindless talk. DOGE will only be someone's idea and never a real department. Musk is smart. He will never work for DJT. He saw what happened to Rex. A friend and a BOSS are two way different things.
Musk backtracking on finding $2 trillion in budget cuts
Posted on 1/9/25 at 6:45 pm to bigjoe1
That is one issue I have with showboaters, they promise the moon when they know full well they can maybe do a third or half.
Elon could have done this…He could have said we have about 500 billion dollars in cuts that the federal government can cut, that way when they find the trillion in cuts it has more of a surprise value.
That way you don’t have to backtrack your statements and apologize. You make an underwhelming statement that way you can surprise your fans when you can actually do more than what you said.
Elon could have done this…He could have said we have about 500 billion dollars in cuts that the federal government can cut, that way when they find the trillion in cuts it has more of a surprise value.
That way you don’t have to backtrack your statements and apologize. You make an underwhelming statement that way you can surprise your fans when you can actually do more than what you said.
This post was edited on 1/9/25 at 6:47 pm
Posted on 1/9/25 at 7:28 pm to Tarps99
quote:
He could have said we have about 500 billion dollars in cuts that the federal government can cut, that way when they find the trillion in cuts it has more of a surprise value.
If he finds 500 billion in cuts I think everyone should be ecstatic, I'll be shocked if he saves 50 billion
Posted on 1/9/25 at 8:31 pm to bigjoe1
The only way they get 1T is by cutting rates to zero and getting the Fed to play along and yield curve control the long end.
Entitlements
Interest
Defense
That's it. That's the budget. The rest of the budget items are individual peanuts.
Entitlements
Interest
Defense
That's it. That's the budget. The rest of the budget items are individual peanuts.
Posted on 1/9/25 at 9:30 pm to bigjoe1
Swamp is deep
Posted on 1/10/25 at 7:21 am to bigjoe1
Anyone that believed musk is naive or just not looking at the real numbers. No way he could cut 2 trillion without some serious law changes.
Round numbers -
6.5 trillion in expense
4.5trillion income
-2 trillion shortfall
Of the expenses we have a few area that won’t be touched as they are mandatory spending -
Social security. 1.5 trillion
Medicare. 950billion
Interest on the debt 1 trillion
Medicaid 700 billion
Total 4.15 trillion
Other areas of high importance but not mandatory-
Defense. 1trillion
Non defense 900billion
Total- 1.9trillion
Problem is , The mandatory items are growing faster than inflation as our population ages. Musk isn’t going to cut that.
The solutions are very unsavory. Raise retirement age. Change Medicare structure. Politics won’t allow those to be hit. High interest rates hurt our borrowing expense. That is a market issue.
I like having someone oversee expenses because it raises awareness to the issue but let’s be real. There’s only so much anyone can do.
Round numbers -
6.5 trillion in expense
4.5trillion income
-2 trillion shortfall
Of the expenses we have a few area that won’t be touched as they are mandatory spending -
Social security. 1.5 trillion
Medicare. 950billion
Interest on the debt 1 trillion
Medicaid 700 billion
Total 4.15 trillion
Other areas of high importance but not mandatory-
Defense. 1trillion
Non defense 900billion
Total- 1.9trillion
Problem is , The mandatory items are growing faster than inflation as our population ages. Musk isn’t going to cut that.
The solutions are very unsavory. Raise retirement age. Change Medicare structure. Politics won’t allow those to be hit. High interest rates hurt our borrowing expense. That is a market issue.
I like having someone oversee expenses because it raises awareness to the issue but let’s be real. There’s only so much anyone can do.
Posted on 1/10/25 at 8:47 am to SlidellCajun
If they wanted to give Musk real power in the government they would have put him in charge of OPM or GAO.
GAO is already DOGE, so the whole thing is redundant anyways. Plus I see now DOGE is hiring people to help write the reports and do the investigations, so more efficiencies.
The whole DOGE thing is pure politics
And to be fair, Musk would have never accepted any govt position because of the conflict of interest. He would never remove himself from the companies he runs, as he would be in line to lose a lot of money
GAO is already DOGE, so the whole thing is redundant anyways. Plus I see now DOGE is hiring people to help write the reports and do the investigations, so more efficiencies.
The whole DOGE thing is pure politics
And to be fair, Musk would have never accepted any govt position because of the conflict of interest. He would never remove himself from the companies he runs, as he would be in line to lose a lot of money
This post was edited on 1/10/25 at 8:49 am
Posted on 1/10/25 at 8:55 am to bigjoe1
The market would tank so hard if the govt had $2T in budget cuts.
Posted on 1/10/25 at 9:12 am to lsu xman
quote:
The market would tank so hard if the govt had $2T in budget cuts.
Everything would. That would be 7.5% of gdp gone, great depression. DOGE is a distraction.
Posted on 1/10/25 at 11:23 am to bigjoe1
Is “DOGE” like Musk’s personal lobbying group? Just vaporware? Still looking for details on this.
Posted on 1/11/25 at 9:32 pm to bigjoe1
1 trillion is 1000 billions.
Sort of unreasonable.
Sort of unreasonable.
Posted on 1/11/25 at 11:50 pm to bigjoe1
I care less about the number and more about efficiency and efficacy
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