Donald Trump has accepted the proposal that Elon Musk’s “Government Efficiency” (DOGE) will share some of the US government spending cuts in the form of checks with all US households It appears to be, reinforcing concerns that inflation could rise again.
Trump addressed the idea in a speech at an investment conference held in Miami on Wednesday, telling participants: ”
Trump said that by reporting government waste allegations to increase their own share of fund cuts, policies will encourage policies to “participate in the money saving process” I proposed it.
When reporters later asked Trump about the proposal when the president returned to Washington in Air Force 1, he said, “I love it.”
James Fishback, CEO of investment firm Azoria, first raised the idea of what is called “Doge Dividend” in a note she shared on social media. The memo suggests that, as Musk has promised, households will be able to receive a $5,000 check if Doge cuts $2TN with government funding.
Musk responded positively to the proposal, appearing to reply in Fishback’s post, “I’ll check with the President.”
There is some reason for the skepticism that such a plan can be implemented. Musk has set a noble goal of cutting $20, but he acknowledges that his team may be lacking well for his target. Last month, he described $2TN as “best case results,” saying, “If you try 2TN, I think there’s a good shot to get 1.”
A Reuters analysis of partial data published by Doge shows Musk’s team has cut only $8.5 billion worth of government contracts so far, representing a small portion of the total spending directed at contractors. got it.
Musk’s team was targeted by ocklol this week after the New York Times reported that Doge claimed it had actually cut its $8 billion contract worth only $8 million.
Even if Musk could reach his $20 goal, questions remain about the meaning of sending a check to all US households.
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Trump and Joe Biden send out stimulus checks to help families deal with financial instability caused by the coronavirus pandemic, and economists suggest they have contributed to rising inflation. It’s there.
A study conducted by the Federal Reserve Bank of St. Louis found that pandemic-related stimuli “contributed to an increase in inflation of about 2.6 percentage points in the United States.” U.S. inflation for the year began to fall after reaching a 40-year high in June 2022, but has yet to reach the 2% target set by the Federal Reserve.
The 12-month consumer price index rose 3% last month, slightly up from 2.9% in December. Trump has pledged to “quickly lower prices” during the presidential election, but admitted in December that it was “hard to beat things,” and Biden said on the rise in prices under Trump’s own tenure. He continued to criticize him.
“Inflation is back. No, think about it: the back of inflation,” Trump told Fox News’ Sean Hannity in an interview aired Tuesday. “And they said, ‘Oh, Trump,’ and I had nothing to do with it. ”
