Close Menu
World Economist – Global Markets, Finance & Economic Insights
  • Home
  • Economist Impact
    • Economist Intelligence
    • Finance & Economics
  • Business
  • Asia
  • China
  • Europe
  • Economy
  • USA
    • Middle East & Africa
    • Highlights
  • This week
  • World Economy
    • World News
What's Hot

Why the stock rally fizzled — plus, our latest thinking on Goldman and Bristol Myers

May 29, 2025

White House accuses US court blocking Trump tariffs of ‘judicial overreach’

May 29, 2025

Salesforce sellers think Marc Benioff is out of ideas. Cramer says it might be time to buy

May 29, 2025
Facebook X (Twitter) Instagram
Thursday, May 29
Facebook X (Twitter) Instagram
World Economist – Global Markets, Finance & Economic Insights
  • Home
  • Economist Impact
    • Economist Intelligence
    • Finance & Economics
  • Business
  • Asia
  • China
  • Europe
  • Economy
  • USA
    • Middle East & Africa
    • Highlights
  • This week
  • World Economy
    • World News
World Economist – Global Markets, Finance & Economic Insights
Home » Elon Musk says Trump’s spending bill undermines the work DOGE has been doing
Finance & Economics

Elon Musk says Trump’s spending bill undermines the work DOGE has been doing

adminBy adminMay 28, 2025No Comments2 Mins Read
Share Facebook Twitter Pinterest Copy Link LinkedIn Tumblr Email VKontakte Telegram
Share
Facebook Twitter Pinterest Email Copy Link
Post Views: 13


U.S. President Donald Trump and Tesla CEO Elon Musk, alongside Musk’s son X Æ A-Xii, speak to the press as they stand next to a Tesla vehicle on the South Portico of the White House in Washington, D.C., on March 11, 2025.

Mandel Ngan | AFP | Getty Images

Elon Musk criticized the Republican spending bill that recently made it through a House vote, saying it counters the work he’s been doing to reduce wasteful government spending.

In an interview to be aired June 1 on “CBS Sunday Morning,” the richest man in the world and the head of the Department of Government Efficiency advisory board said the “big, beautiful bill” will not help the nation’s finances.

“I was, like, disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decrease it, and undermines the work that the DOGE team is doing,” Musk said in a clip the program shared on social media platform X.

DOGE says it has saved $170 billion in taxpayer money since it began in January, targeting areas of government waste and redundancy in sometimes-controversial ways.

For instance, it has gutted the U.S. Agency for International Development and reduced staff elsewhere. DOGE-related moves have been responsible for some 275,000 government layoffs, according to Challenger, Gray & Christmas, a consultancy firm.

The sweeping One Big Beautiful Bill Act by contrast, is projected to raise the federal budget deficit by $3.8 trillion over the next 10 years, according to the Congressional Budget Office. The deficit is on track in 2025 to run close to $2 trillion, with the national debt now at $36.2 trillion.

“I think a bill can be big or it could be beautiful, but I don’t know if it could be both,” Musk said in the clip.

Trump and congressional Republicans counter that the bill reduces spending in key areas and will generate enough growth to compensate for the tax reductions. The legislation, though, is expected to face strong resistance in the Senate.

For his part, Musk has pulled back his DOGE work, saying he plans to focus on running his companies, which include X, Tesla and SpaceX. Musk had been a frequent presence in the White House since Trump’s election.

In an interview with The Washington Post published Tuesday, Musk said the federal bureaucracy is “much worse than I realized” and that DOGE became “the whipping boy for everything.”



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram Copy Link
admin
  • Website

Related Posts

Finance & Economics

Trump adviser Hassett confident tariffs will stay despite judges’ ruling

May 29, 2025
Finance & Economics

federal trade court blocks Trump’s tariffs

May 29, 2025
Finance & Economics

Credit default swaps are in demand again amid U.S. fiscal worries

May 28, 2025
Finance & Economics

Fed worried it could face ‘difficult tradeoffs’ if tariffs reaggravate inflation, minutes show

May 28, 2025
Finance & Economics

investors monitor U.S.-EU trade talks

May 28, 2025
Finance & Economics

Trump to pardon reality TV stars Todd and Julie Chrisley

May 27, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Pakistan inflation in May seen at 1.5%-2% – Pakistan

May 29, 2025

‘Pakistan salaried class paid 5 times more taxes than exporters, retailers in outgoing FY25’ – Pakistan

May 29, 2025

Shahid Nazir appointed as managing director of NGC Pakistan – Business & Finance

May 29, 2025

ILO lowers job creation forecast for 2025 – Business & Finance

May 29, 2025
Latest Posts

Finance secretary says ban on cryptocurrency still in place, stresses need for regulation – Pakistan

May 29, 2025

Adviser to the finance minister announces ‘no extension’ in budget date amid speculation – Pakistan

May 29, 2025

Pakistan unveils first govt-led Strategic Bitcoin Reserve – Pakistan

May 29, 2025

Subscribe to News

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Recent Posts

  • Why the stock rally fizzled — plus, our latest thinking on Goldman and Bristol Myers
  • White House accuses US court blocking Trump tariffs of ‘judicial overreach’
  • Salesforce sellers think Marc Benioff is out of ideas. Cramer says it might be time to buy
  • Pakistan inflation in May seen at 1.5%-2% – Pakistan
  • Cramer rips Starbucks downgrade, argues for why investors should stay in the struggling stock

Recent Comments

No comments to show.

Welcome to World-Economist.com, your trusted source for in-depth analysis, expert insights, and the latest news on global finance and economics. Our mission is to provide readers with accurate, data-driven reports that shape the understanding of economic trends worldwide.

Latest Posts

Why the stock rally fizzled — plus, our latest thinking on Goldman and Bristol Myers

May 29, 2025

White House accuses US court blocking Trump tariffs of ‘judicial overreach’

May 29, 2025

Salesforce sellers think Marc Benioff is out of ideas. Cramer says it might be time to buy

May 29, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • June 2024
  • October 2022
  • March 2022
  • July 2021
  • February 2021
  • January 2021
  • November 2019
  • April 2011
  • January 2011
  • December 2007
  • July 2007

Categories

  • AI & Tech
  • Asia
  • Banking
  • Business
  • Business
  • China
  • Climate
  • Computing
  • Economist Impact
  • Economist Intelligence
  • Economy
  • Editor's Choice
  • Europe
  • Europe
  • Featured
  • Featured Business
  • Featured Climate
  • Featured Health
  • Featured Science & Tech
  • Featured Travel
  • Finance & Economics
  • Health
  • Highlights
  • Markets
  • Middle East
  • Middle East & Africa
  • Middle East News
  • Most Viewed News
  • News Highlights
  • Other News
  • Politics
  • Russia
  • Science
  • Science & Tech
  • Social
  • Space Science
  • Sports
  • Sports Roundup
  • Tech
  • This week
  • Top Featured
  • Travel
  • Trending Posts
  • Ukraine Conflict
  • Uncategorized
  • US Politics
  • USA
  • World
  • World & Politics
  • World Economy
  • World News
© 2025 world-economist. Designed by world-economist.
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.