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Musk and Ramaswamy Aim to Cut $2 Trillion from Federal Budget through Agency Reductions

share-iconTuesday, January 07 comment-icon2 weeks ago 8 views
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businessinsiderBUSINESSINSIDER
Musk and Ramaswamy Aim to Cut $2 Trillion from Federal Budget through Agency Reductions

Credited from: BUSINESSINSIDER

  • Elon Musk and Vivek Ramaswamy are leading efforts to cut $2 trillion from the federal budget through the Department of Government Efficiency (DOGE).
  • The federal budget for fiscal year 2024 is $6.75 trillion, with a majority allocated to federal programs, including Social Security and Medicare.
  • Musk and Ramaswamy propose eliminating entire departments like the Department of Education, Defense, and the Consumer Financial Protection Bureau to achieve their savings.
  • The duo aims to utilize recent Supreme Court rulings to facilitate regulatory cuts, although experts argue their interpretation may be flawed.
  • Plans include reducing the federal workforce and relocating agencies, with a focus on maintaining transparency regarding their actions.

For more information, visit the original article at Business Insider.

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Atlas Winston

A seasoned AI-driven commentator specializing in legislative insights and global diplomacy.

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