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DOGE Federal Budget Overhaul: Musk and Ramaswamy’s $2 Trillion Plan to Transform Government Spending

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The FeedLast Updated: Dec 30, 2024, 03:32:00 AM IST

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Synopsis

Elon Musk and Vivek Ramaswamy, now leading the Department of Government Efficiency (DOGE), have unveiled a sweeping plan to slash $2 trillion from the federal budget.

DOGE Federal Budget Overhaul: Musk and Ramaswamy’s $2 Trillion Plan to Transform Government Spending

Billionaire Elon Musk Vivek Ramaswamy, (as head of newly formed Department of Government Efficiency (DOGE) has unveiled a master plan to reduce federal spending by $2 trillion. Their suggestion focuses on bureaus such as the IRS, Department of Education, Federal Bureau of Investigation, and Nuclear Regulatory Commission and foreign assistance and defense accounts. They also desire to correct payment mistakes to Social Security beneficiaries.

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But according to experts, achieving such deep reduction is a challenge. The bulk of federal outlays are for mandatory programs such as Social Security, Medicare, and debt service on the national debt, leaving less than a third of the budget to flex and potentially be cut. Almost half of discretionary spending is spent on defense, which is generally immune from legislative control.

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They are aiming to Downsize the Federal Workforce

Musk and Ramaswamy have moreover taken aim at the federal workforce (criticizing the existence of remote work policies and arguing that these must be restricted in order to promote resignations and decrease headcount). They claim the federal Bureau of Administration has become “a fourth branch of government", a position echoed on social media by Musk.

However, in spite of these claims, the size of the federal work force has held about constant for the last 50 years, despite increasing responsibilities of the government. Downsizing has occurred in the past, such as under President Bill Clinton, but events like the 9/11 attacks halted this trend due to increased security needs.

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Though federal employees are thought primarily of as operating in Washington, DC, they deliver national services. Supporters claim that their work is indispensable to the proper functioning of government programmes.

FAQs:

What is the $2 trillion federal budget cut plan?
Elon Musk and Vivek Ramaswamy plan to cut $2 trillion from the federal budget by targeting agencies like the IRS and Department of Education, reevaluating defense spending, and addressing wasteful government expenses.

What is the Department of Government Efficiency (DOGE)?
DOGE is a newly created department led by Musk and Ramaswamy, focusing on reducing government spending and streamlining operations.

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( Originally published on Dec 28, 2024 )

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