2 months, 2 weeks ago

How to make Elon Musk’s budget-slashing dreams come true

Elon Musk and Vivek Ramaswamy plan to whip the American state into shape. Mr Musk has talked of ripping $2trn from the federal budget, an amount that, if done in a year, would exceed the government’s entire discretionary spending. Although Mr Trump vowed in his campaign platform he would make no cuts to them, that should not stop DOGE from weighing the options. But it would be irresponsible to look at America’s fiscal health today without considering whether, and how, to generate more revenue. If Mr Trump sustains funding increases approved by Mr Biden, tax collectors could bring in about $850bn in extra revenue over the next decade, according to the Treasury.

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