Elon Musk's Government Efficiency Push Falls Short As Treasury Data Shows Spending Up Sharply Since Trump's Inauguration: Report
www.benzinga.com
Despite Elon Musk's claims that the Department of Government Efficiency has saved $150 billion, federal spending under Trump's second term has increased by $154 billion, driven largely by rising entitlement costs and debt interest payments, with limited short-term impact from DOGE's cuts.

Despite aggressive cost-cutting by the so-called Department of Government Efficiency, federal spending has reportedly climbed by $154 billion since Donald Trump returned to office.

Government spending is significantly higher under Trump’s second term compared to the same period in 2024 under Joe Biden, according to the analysis by the Wall Street Journal, citing the Treasury Department’s daily financial statements.

The increase—$154 billion—comes even as DOGE, led by Elon Musk, touts $150 billion in cost savings through job cuts, contract terminations, and the rollback of diversity and aid programs.

  • djsp@feddit.org
    73·
    3 days ago

    In his first term, Trump increased both the budget deficit and total outstanding debt with his unsustainable fiscal policy. Now, his antagonistic and erratic foreign policy is raising Treasury yields. He and his political project are brewing the very debt crisis they keep fearmongering about. The solutions they contemplate, like currency devaluation, messing with the Federal Reserve, perpetual or century bonds and a partial default on repayment obligations to China, further erode trust in the global financial system that underpins American power.