Summary
Elon Musk, co-head of the Department of Government Efficiency under Donald Trump’s advisory team, revised his claim of finding $2 trillion in federal budget cuts to a “best-case outcome” of $1 trillion.
Musk’s earlier target, dismissed as unrealistic by experts, had included the entire discretionary budget of $1.7 trillion.
While Musk and co-lead Vivek Ramaswamy plan to recommend cuts, specifics remain unclear.
Experts warn savings may require targeting mandatory programs like Medicaid, potentially causing hardships.
We did this exercise as a civic learning experience in 9th year government/social studies classes. The teacher had us go through a mock (simplified) Federal budget and decide which line items to cut to achieve a “balanced budget” with debt reduction.
The problem is largely intractable for reasons that become obvious even to middleschool kids. Do you completely cut popular things like the space program? Gut entitlement spending? Massively increase taxes across all brackets? Reduce the military or infrastructure spending to laughable levels? All of those things are very unpopular but that is what it would really take to tackle the problem.
You tax the 1% until they’re the 10% then shove that money into infrastructure and welfare. Then you sit back and watch the American Exceptionalism machine go brrrr again just like the 50’s
Problem is, if the goal is to greatly reduce or eliminate the debt, you could confiscate 100% of the 1%s wealth and it would barely make a dent.
This is absolutely false. The top 1% in the US control 50 TRILLION dollars. More than enough to go around with plenty to spare for a rainy day.