Elon Musk appears to be taking swift action following Donald Trump’s recent election victory. The billionaire, appointed by President-elect Trump to curb excessive US spending and lead the newly-established Department of Government Efficiency (DOGE), has cautioned that the country may be approaching the brink of bankruptcy.
The DOGE X handle shared some numbers saying that the country spent more than it brought in.
In FY2023, the U.S. Government spent $6.16. trillion while only bringing in $4.47 trillion.
The last budget surplus was in 2001.
This trend must be reversed, and we must balance the budget.
What Elon Musk has to say
In a separate post, the SpaceX and Tesla CEO reshared the data posted by the DOGE account and said, “America is currently headed for bankruptcy super fast.” Notably, Musk is tasked to spearhead the department to find ways of saving taxpayer dollars.
DOGE shares how the US government spends tax money
In a post shared on November 24, DOGE listed three ways in which the government spends taxpayers money.
How the Government Spends your Tax Dollars:
-$28 million on licensing fees for a green “camouflage” pattern on Afghan National Army uniforms
-$2.5 million on a Super Bowl Ad for the Census
-$1.7 million for holograms of dead comedians -$500,000 to build an IHOP in Washington, DC
An estimated $100 billion in estimated improper payments were made in the Medicare and Medicaid programs in Fiscal Year 2023. This is 43% of government-wide improper payments that year.