Elon Musk Has New Idea For Donald Trump: Giant Budget Cuts
1 month, 3 weeks ago

Elon Musk Has New Idea For Donald Trump: Giant Budget Cuts

Huff Post  

LOADING ERROR LOADING During Donald Trump’s rally at Madison Square Garden on Sunday, campaign surrogate Elon Musk pitched an eyebrow-raising $2 trillion budget cut. Trump has promoted Musk as someone who could identify wasteful federal spending, but a $2 trillion cut would amount to almost a third of the budget and crush a range of popular programs ― especially if popular ones like Social Security are exempted. Since Social Security and Medicare by themselves amount to about a third of federal spending, holding them harmless from an across-the-board reduction means cuts to other programs would have to be much deeper. And if veterans programs were also protected, in addition to Social Security, Medicare and defense, the cuts to other programs would rise to 89%, Kogan said.

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History of this topic

What Trump’s decision to wade into spending fight tells us about his next four years as US president
2 days, 5 hours ago

What Trump’s decision to wade into spending fight tells us about his next four years as US president

New Indian Express  

WASHINGTON: After days of threats and demands, Donald Trump had little to show for it once lawmakers passed a budget deal in the early hours of Saturday, narrowly averting a pre-Christmas government shutdown. The president-elect successfully pushed House Republicans to jettison some spending, but he failed to achieve his central goal of raising the debt limit. Trump's decision to inject …

'President Musk' trends after Trump's top oligarch torpedoes federal spending deal
4 days, 11 hours ago

'President Musk' trends after Trump's top oligarch torpedoes federal spending deal

Raw Story  

Congress is careening toward a government shutdown after U.S. President-elect Trump, egged on by billionaire Elon Musk—who helped bankroll Trump's reelection campaign and is slated to help oversee cuts to government spending and regulation in the new administration—torpedoed a federal spending bill that would have kept the government open for the next few months. These sorts of remarks continued Thursday, …

Trump attempts to kill bipartisan budget deal with Musk's help
5 days, 6 hours ago

Trump attempts to kill bipartisan budget deal with Musk's help

Associated Press  

▶ Follow live updates on federal funding negotiations as a government shutdown looms. AP AUDIO: Trump brings chaos back to Washington by attempting to kill bipartisan budget deal with Musk’s help AP Washington correspondent Sagar Meghani reports President-elect Donald Trump has sunk a deal to keep the government funded days before a shutdown deadline. “The people who elected us are …

Johnson’s spending nightmare points to grueling GOP problems next year
6 days, 5 hours ago

Johnson’s spending nightmare points to grueling GOP problems next year

Politico  

In theory, most Republicans support the latter idea, but looking for trillions of dollars in savings could drastically slow down an agenda that the GOP hoped to accomplish in the first 100 days of Trump’s administration. Other Republicans, including some who previously said they would support him, now won’t commit to backing him, despite Trump endorsing Johnson just over a …

'Hit hard': Trump’s budget expected to be especially painful for his supporters
1 week, 5 days ago

'Hit hard': Trump’s budget expected to be especially painful for his supporters

Raw Story  

Billionaire Tesla CEO Elon Musk was a major donor to Donald Trump's 2024 campaign and, now that Trump is president-elect, he has picked Musk and MAGA businessman Vivek Ramaswamy to head a proposed new agency called the Department of Government Efficiency. In an article Wednesday, Reuters reporters Andy Sullivan and Ally J. Levine examine possible areas in which Musk and …

Rand Paul: 'You don't get close' to Musk's spending cut goals without key social programs
2 weeks, 3 days ago

Rand Paul: 'You don't get close' to Musk's spending cut goals without key social programs

Raw Story  

Sen. Rand Paul said Friday evening on Fox News what many have thought: President-elect Donald Trump's initiative for massive government spending cuts must go after major social programs to work. Proposing cuts to Social Security and Medicare, America's flagship basic income and health insurance programs for retirees, is generally considered a third rail in American politics. But Paul is likely …

Elon Musk Spent $270 Million to Support Trump’s Presidency
2 weeks, 3 days ago

Elon Musk Spent $270 Million to Support Trump’s Presidency

Deccan Chronicle  

Tech billionaire Elon Musk spent at least $270 million to help Donald Trump win the US presidency, according to new federal filings, making him the country's biggest political donor.SpaceX and Tesla CEO Musk, the world's richest person, was an ardent supporter of Trump's White House campaign -- funneling money into door knocking operations and speaking at his rallies.His financial backing, …

Musk and Ramaswamy's DOGE echoes past budget promises that faced big hurdles
2 weeks, 3 days ago

Musk and Ramaswamy's DOGE echoes past budget promises that faced big hurdles

NPR  

Musk and Ramaswamy's DOGE echoes past budget promises that faced big hurdles toggle caption Roberto Schmidt/AFP via Getty Images Elon Musk and Vivek Ramaswamy test drove their new Department of Government Efficiency, or DOGE, on Capitol Hill this week, visiting House and Senate Republicans, who celebrated their promise of reduced government and dramatically lower federal spending. Even the Senate Budget …

'Nothing is sacrosanct': GOP floats Social Security cuts after Musk Capitol Hill visit
2 weeks, 3 days ago

'Nothing is sacrosanct': GOP floats Social Security cuts after Musk Capitol Hill visit

Raw Story  

Republican lawmakers on Thursday signaled a willingness to target Social Security and other mandatory programs after meeting with Elon Musk and Vivek Ramaswamy, the billionaire pair President-elect Donald Trump chose to lead a new commission tasked with slashing federal spending and regulations. After airing Norman's remarks, Fox Business reported that Musk and Ramaswamy told lawmakers that no federal program is …

'Disaster': Senior Republican aide predicts what will get Elon Musk 'bounced by Trump'
2 weeks, 4 days ago

'Disaster': Senior Republican aide predicts what will get Elon Musk 'bounced by Trump'

Raw Story  

X CEO Elon Musk is scheduled to meet with congressional Republicans to pitch his drastic budget-cutting plans, and it's already causing concern for some on Capitol Hill. An unnamed Republican Senate aide who spoke with Punchbowl News' Jake Sherman on Thursday predicted that Musk and fellow Department of Government Efficiency leader Vivek Ramaswamy would create massive political headaches for Republicans …

'Chomping at the bit': Analyst claims Republican just showed rush to slash Social Security
2 weeks, 6 days ago

'Chomping at the bit': Analyst claims Republican just showed rush to slash Social Security

Raw Story  

Republicans are already revealing their eagerness to cut earned benefits for millions of Americans, if one House Republican is to be believed. In a recent interview with Fox Business host Maria Bartiromo, Rep. Richard McCormick said that he aims to convince his fellow lawmakers that "hard decisions" need to be made about Social Security, Medicare and Medicaid if his party …

'Have the stomach': Republican claims Dems need to back Social Security and Medicare cuts
Trending News
2 weeks, 6 days ago

'Have the stomach': Republican claims Dems need to back Social Security and Medicare cuts

Raw Story  

Rep. Richard McCormick told Fox Business that Republicans will desperately need help from Democrats if they intend to cut Social Security and Medicare — both of which are programs Democrats have historically supported. So, Trump's tax cuts and his mass deportation plan will result in adding almost as much as the entire government functioning for a year. "We're gonna have …

Bernie Sanders admits 'Musk is right' to shrink federal government
3 weeks ago

Bernie Sanders admits 'Musk is right' to shrink federal government

Daily Mail  

Tesla CEO Elon Musk received unexpected support for his plans to shrink the federal government - from Democratic Socialist Bernie Sanders. The Vermont senator, who twice came in second place for the Democratic nomination for president, praised Musk's plans to reign in defense spending, saying: 'Elon Musk is right.' But Sanders is not the first Democrat who has expressed support …

'Headed for a brawl': Trump's plan reportedly 'dividing GOP lawmakers'
3 weeks, 3 days ago

'Headed for a brawl': Trump's plan reportedly 'dividing GOP lawmakers'

Raw Story  

On Friday, Politico wrote that Republicans are gearing up for a fight over Trump's new $4.6 trillion tax cut. Politico reported in 2018 that their analysis put Trump's tax cuts at a $2.3 trillion addition to the deficit. The Center of Budget and Policy Priorities revealed in June that the 2017 tax cut passed by Trump and the GOP "skewed …

Musk to hold talks with Republicans on sweeping spending cuts
3 weeks, 3 days ago

Musk to hold talks with Republicans on sweeping spending cuts

Raw Story  

Donald Trump's incoming government efficiency chief Elon Musk will meet Republican lawmakers next week to begin discussions about the tech billionaire's new commission tasked with cutting billions of dollars in federal spending. Mike Johnson, the Republican speaker of the House of Representatives, said in a post on X he was looking forward to hosting Musk next Thursday, along with his …

'Almost impossible': Fact-checker says Elon Musk's math does not add up
3 weeks, 6 days ago

'Almost impossible': Fact-checker says Elon Musk's math does not add up

Raw Story  

Tech billionaire Elon Musk has promised to slash government waste and inefficiency and balance the budget through his Trump-approved independent task force known as the Department of Government Efficiency, or DOGE — named after an internet meme. But many of their examples of government waste are misleading, wrote Glenn Kessler for The Washington Post Fact-Checker — and worse, the simple …

Musk wants $2 trillion of spending cuts. Here’s why that’s hard.
3 weeks, 6 days ago

Musk wants $2 trillion of spending cuts. Here’s why that’s hard.

Live Mint  

The U.S. federal government spent $6.75 trillion in the most recent fiscal year ended Sept. 30, according to the Congressional Budget Office. Elon Musk has been tasked alongside biotech company founder Vivek Ramaswamy with leading President-elect Donald Trump’s effort to reduce this government spending through the new Department of Government Efficiency. Social Security benefits cost the government $1.45 trillion in …

Elon Musk mocks own government efficiency department with ‘I can’t believe DOGE is real’ post with laughing emojis
4 weeks ago

Elon Musk mocks own government efficiency department with ‘I can’t believe DOGE is real’ post with laughing emojis

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Elon Musk has shared his own disbelief that the government …

Elon Musk's budget-cutting promises defy arithmetic
1 month ago

Elon Musk's budget-cutting promises defy arithmetic

LA Times  

President-elect Donald Trump’s designated debt-busters, Elon Musk and Vivek Ramaswamy, last week wrote an op-ed in the Wall Street Journal providing the fullest accounting yet of their plans to cut “waste, fraud and abuse” — that most well-worn and oft-broken of political promises. Indeed, an omission from the dynamic duo’s piece suggests that they — and Trump — may have …

Elon Musk and Vivek Ramaswamy’s ‘budget cuts’ could spark constitutional clash in Trump presidency: Report
1 month ago

Elon Musk and Vivek Ramaswamy’s ‘budget cuts’ could spark constitutional clash in Trump presidency: Report

Live Mint  

When Elon Musk first proposed a new initiative to reduce the size of government, Donald Trump didn’t seem to take it seriously. His eventual name for the idea But now that Trump has won the election, Musk's fantasy is becoming reality, with the potential to spark a constitutional clash over the balance of power in Washington, reported AP, citing Elon …

Elon Musk’s budget crusade could cause a constitutional clash in Trump’s second term
1 month ago

Elon Musk’s budget crusade could cause a constitutional clash in Trump’s second term

Associated Press  

WASHINGTON — When Elon Musk first suggested a new effort to cut the size of government, Donald Trump didn’t seem to take it seriously. Now is the moment for decisive action.” Trump has already suggested taking such a big step, saying last year that he would “use the president’s long-recognized impoundment power to squeeze the bloated federal bureaucracy for massive …

Elon Musk cutting $2 trillion of US spending is not good for markets: Expert
1 month, 1 week ago

Elon Musk cutting $2 trillion of US spending is not good for markets: Expert

Hindustan Times  

Elon Musk's plans to cut US spending by $2 trillion under the Trump 2.0 administration will strengthen the dollar and be negative for markets, Christopher Wood, global head of equity strategy at Jefferies said in a television interview on Thursday. Musk, one of Donald Trump's largest endorsers, has now been appointed to co-head the new Department of Government Efficiency for …

Department of Government Efficiency: What areas Elon Musk may cut
1 month, 1 week ago

Department of Government Efficiency: What areas Elon Musk may cut

CNN  

CNN — President-elect Donald Trump and Elon Musk have big ambitions for making the federal government leaner and more efficient by reviewing its budget and operations from top to bottom. Musk, the world’s richest person who owns or runs several companies, has warned that his goals – including cutting at least $2 trillion in federal spending – could cause “temporary …

Here's how Elon Musk's Department of Government Efficiency might work
1 month, 1 week ago

Here's how Elon Musk's Department of Government Efficiency might work

Hindustan Times  

Donald Trump has tasked Elon Musk with setting up a panel to streamline the U.S. government. Musk, whose companies include the electric vehicle maker Tesla and commercial space company SpaceX, has a deep knowledge of the National Aeronautics and Space Administration and the Pentagon, agencies he has extensive contracts with for rockets, satellites and other space operations. Musk said at …

Elon Musk to join Donald Trump-led US Cabinet? SpaceX and Tesla CEO says…
1 month, 2 weeks ago

Elon Musk to join Donald Trump-led US Cabinet? SpaceX and Tesla CEO says…

Live Mint  

Billionaire businessman Elon Musk has emerged as an ardent supporter of Donald Trump in recent months — from attending campaign rallies to donating more than $100 million to Republican causes. He nominated five people who were predominantly businessmen as Cabinet secretaries during his first term in office — including Exxon Mobil CEO Rex Tillerson, billionaire philanthropist Betsy DeVos, and former …

Elon Musk’s ‘crazy’ plan to rip $2 trillion out of America
1 month, 2 weeks ago

Elon Musk’s ‘crazy’ plan to rip $2 trillion out of America

The Telegraph  

Dressed all in black, Elon Musk let out a roar. At last week’s Madison Square Garden rally, the billionaire pointed to his black “Make America Great Again” cap proclaiming: “I am dark, gothic Maga.” Once a self-described “socialist”, Musk has emerged as one of Donald Trump’s most prominent and strident supporters in the final few weeks of the US election …

Musk's Spending Cuts Plan: A Call for Fiscal Responsibility
1 month, 3 weeks ago

Musk's Spending Cuts Plan: A Call for Fiscal Responsibility

Live Mint  

Elon Musk outlines his plans to reduce federal spending if Donald Trump is re-elected. Musk proposes drastic budget cuts, aiming to eliminate $2 trillion from the budget and ensure long-term economic prosperity. He emphasizes the need for fiscal responsibility and believes that everyone will have to take a haircut to achieve this goal.

Donald Trump Claims 'Nobody's Going To Feel It' When Elon Musk Slashes Government
1 month, 3 weeks ago

Donald Trump Claims 'Nobody's Going To Feel It' When Elon Musk Slashes Government

Huff Post  

LOADING ERROR LOADING Former President Donald Trump confirmed Tuesday that he’d consider giving billionaire Elon Musk a role slashing the federal government if he returns to the White House next year. Musk, one of Trump’s biggest financial backers, has said that he would subtract trillions from federal spending — and said the cuts would result in “some temporary hardship” for …

Elon Musk agrees: Trump’s economic plans will lead to ‘hardship’ and cause markets to ‘tumble’
1 month, 3 weeks ago

Elon Musk agrees: Trump’s economic plans will lead to ‘hardship’ and cause markets to ‘tumble’

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Elon Musk agreed on Tuesday that proposed drastic …

Elon Musk Says Trump Will Bring 'Temporary Hardship' For Americans
1 month, 3 weeks ago

Elon Musk Says Trump Will Bring 'Temporary Hardship' For Americans

Huff Post  

LOADING ERROR LOADING Former President Donald Trump’s biggest financial backer and top campaign surrogate, Tesla CEO Elon Musk, says he and Trump plan to inflict “temporary hardship” on American citizens if the Republican nominee wins the White House in November. Musk, the tech billionaire who has spent more than $130 million backing Trump and regularly spreads racist conspiracy theories about …

Elon Musk's son X dons customized MAGA hat at Trump rally as billionaire claims he can cut $2 TRILLION of waste from federal budget
1 month, 3 weeks ago

Elon Musk's son X dons customized MAGA hat at Trump rally as billionaire claims he can cut $2 TRILLION of waste from federal budget

Daily Mail  

Elon Musk showed up to Donald Trump's blockbuster Manhattan rally with his 4-year-old son, who was wearing a customized red MAGA hat that read: 'Make Voting Great Again.' His son, whose full name is X Æ A-Xii, was The youngster, who was pictured beside former First Lady Melania Trump in one photo, was born on May 4, 2020 and is …

Musk's plan to tackle government debt with AI may have some merit, says ALEX BRUMMER
2 months ago

Musk's plan to tackle government debt with AI may have some merit, says ALEX BRUMMER

Daily Mail  

There is a long and curious practice in US elections of ‘walking around money’. Debt buster: Tesla, Space X and X tycoon Elon Musk said that if Donald Trump is elected president, he would support a new 'Department of Efficiency' Musk is campaigning for the Republican candidate on a manifesto of cutting government spending. Data from the US Congressional Budget …

Donald Trump Tax Plans Would Increase Taxes On 95% Of Americans, Analysis Finds
2 months, 2 weeks ago

Donald Trump Tax Plans Would Increase Taxes On 95% Of Americans, Analysis Finds

Huff Post  

LOADING ERROR LOADING Former President Donald Trump’s domestic policy agenda would amount to a tax increase on the vast majority of American households, according to a new analysis by a Washington, D.C., think tank, thanks largely to his proposed tariffs on imported goods. “We’re doing tariffs on other countries.” The conservative Tax Foundation has said Trump’s tariffs would essentially be …

Trump's plan would add $4 trillion more to U.S. debt compared to Harris', analysis says
2 months, 2 weeks ago

Trump's plan would add $4 trillion more to U.S. debt compared to Harris', analysis says

NPR  

Trump's plan would add $4 trillion more to U.S. debt compared to Harris', analysis says toggle caption Saul Loeb/AFP via Getty Images With less than a month left until Election Day, both the Harris and Trump campaigns have presented their economic visions to the American people — including proposed tax cuts, border security spending and affordable housing policies. Trump's estimated …

Trump plans to hire Elon Musk to lead "government efficiency commission"
3 months, 2 weeks ago

Trump plans to hire Elon Musk to lead "government efficiency commission"

Salon  

At an economics conference on Thursday, former president Donald Trump unveiled plans to bring Elon Musk in for a job in his administration, giving billionaires another voice via the Tesla CEO, who is a vocal critic of corporate regulation and a warrior against labor protections. Trump, who previously mulled bringing Musk on, reportedly received a $45 million-per-month campaign lifeline through …

'Explosive path': Experts say 'expensive' Trump tax plan will add $5.8 trillion to deficit
3 months, 3 weeks ago

'Explosive path': Experts say 'expensive' Trump tax plan will add $5.8 trillion to deficit

Raw Story  

Donald Trump's tax plan for a second potential term as president would be much more expensive than the one proposed by Vice President Kamala Harris, according to experts. "Former President Donald Trump would seek to extend the tax cuts enacted through the Tax Cuts and Jobs Act, his signature 2017 legislation that reduced taxes for most Americans, although research has …

Congressional Budget Office raises this year’s federal budget deficit projection by $400 billion
6 months ago

Congressional Budget Office raises this year’s federal budget deficit projection by $400 billion

Associated Press  

WASHINGTON — The Congressional Budget Office said Tuesday that it projects this year’s federal budget deficit to be $400 billion higher, a 27% increase compared to its original estimate released in February. White House spokeswoman Karine Jean-Pierre, said in a statement that the report “is further evidence of the need for Congress to pass President Biden’s Budget to reduce the …

Trump 'open' to slashing taxes that fund Social Security and Medicare: report
8 months ago

Trump 'open' to slashing taxes that fund Social Security and Medicare: report

Raw Story  

Former President Donald Trump is toying with the idea of promising a large tax cut for the middle class as part of his 2024 re-election campaign — and one way he might do it is to raid the funding for Social Security and Medicare. According to Gram Slattery of Reuters, "Donald Trump has indicated to advisers he is keen on …

Republicans rip Biden's 'reckless' $7.3 trillion budget that will 'accelerate America's decline': Top GOP members says plan is a 'another example of disregard for fiscal responsibility'
9 months, 1 week ago

Republicans rip Biden's 'reckless' $7.3 trillion budget that will 'accelerate America's decline': Top GOP members says plan is a 'another example of disregard for fiscal responsibility'

Daily Mail  

House Republican leadership tore into President Biden's new budget plan for fiscal year 2025, deeming it a 'roadmap to accelerate America's decline.' House Republican leadership tore into President Biden's new budget plan for fiscal year 2025, deeming it a 'roadmap to accelerate America's decline' The White House plans to pay for its ambition agenda - which includes $3 billion for …

Cash-strapped Trump quietly courts billionaire Elon Musk: report
9 months, 2 weeks ago

Cash-strapped Trump quietly courts billionaire Elon Musk: report

Raw Story  

Elon Musk flew to Florida Sunday to huddle with a cash-strapped former President Donald Trump facing a presidential campaign and civil court rulings adding up to more than $500 million, according to a new report. Musk — who owns X, SpaceX and Tesla — felt shafted by Biden in August 2021 when he invited electric car companies to the White …

Where the Republican presidential candidates stand on the economy
11 months, 2 weeks ago

Where the Republican presidential candidates stand on the economy

NPR  

Where the Republican presidential candidates stand on the economy Enlarge this image toggle caption Jim Watson/AFP via Getty Images; Eduardo Munoz Alvarez-Pool/Getty Images; Jim Vondruska/Getty Images; Mandel Ngan/AFP via Getty Images; Jim Watson/AFP via Getty Images Jim Watson/AFP via Getty Images; Eduardo Munoz Alvarez-Pool/Getty Images; Jim Vondruska/Getty Images; Mandel Ngan/AFP via Getty Images; Jim Watson/AFP via Getty Images The classic …

GOP taking budget advice from Trump official who wants to cut $2 trillion from Medicaid
1 year, 10 months ago

GOP taking budget advice from Trump official who wants to cut $2 trillion from Medicaid

Salon  

This article originally appeared at Common Dreams. The right-wing official who served as budget director for the Trump administration is reportedly playing a significant advisory role for House Republicans as they seek to leverage a fast-approaching debt ceiling crisis to enact spending cuts that would disproportionately impact low-income households. According toThe Washington Post, former Office of Management and Budget chief …

'Need to stop Biden's excess spending': Trump warns Republicans to avoid cuts to medicare, social security
1 year, 11 months ago

'Need to stop Biden's excess spending': Trump warns Republicans to avoid cuts to medicare, social security

India Today  

Former US President Donald Trump, who launched his 2024 presidential re-election bid in November, on Friday urged Republicans in Congress not to cut “a single penny” from medicare or social security. He warned his fellow Republicans not to "destroy" federal retirement and health benefits as they try to exact spending cuts from President Joe Biden and his Democratic allies in …

Democrats Hope To Undo Many Trump Tax Cuts To Fund Biden's $3.5 Trillion Budget Plan
3 years, 3 months ago

Democrats Hope To Undo Many Trump Tax Cuts To Fund Biden's $3.5 Trillion Budget Plan

NPR  

Democrats Hope To Undo Many Trump Tax Cuts To Fund Biden's $3.5 Trillion Budget Plan Enlarge this image toggle caption Drew Angerer/Getty Images Drew Angerer/Getty Images Democrats hope to unwind many of the tax cuts Republicans enacted under former President Donald Trump as a way to pay for the majority of the $3.5 trillion spending bill currently under consideration in …

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