"Elon Musk’s hyperactive efficiency drive failed to prevent US federal spending rising to a record $603bn last month, new Treasury data has revealed, highlighting the Trump administration’s difficulty in drastically cutting the size of government.
Musk’s so-called Department of Government Efficiency claims to have already made more than $100bn of savings, but only a handful of departments registered any drops in spending in the first full month of the new administration.
Spending rose by $40bn compared with the same month last year on a like-for-like basis, a 7 per cent increase.
The new data comes after Musk and his emissaries at Doge have infiltrated several government agencies, including the state and health departments, and various arms of the Treasury. Tens of thousands of workers have been suspended or dismissed and thousands of government grants and contracts have been cancelled.
Musk has repeatedly claimed that Doge is on track to make $1tn worth of savings from the annual federal budget, and said the initiative was identifying cuts at a rate of $4bn a day.
But the Monthly Treasury Statement for February showed that few large categories had achieved significant decreases. The Department of Education had cut outgoings by $6bn, Treasury officials noted."
https://www.ft.com/content/6d938875-d9c8-47b1-9116-eef577d2cb98
#USA #Musk #DOGE #Trump #FederalBudget
Musk’s so-called Department of Government Efficiency claims to have already made more than $100bn of savings, but only a handful of departments registered any drops in spending in the first full month of the new administration.
Spending rose by $40bn compared with the same month last year on a like-for-like basis, a 7 per cent increase.
The new data comes after Musk and his emissaries at Doge have infiltrated several government agencies, including the state and health departments, and various arms of the Treasury. Tens of thousands of workers have been suspended or dismissed and thousands of government grants and contracts have been cancelled.
Musk has repeatedly claimed that Doge is on track to make $1tn worth of savings from the annual federal budget, and said the initiative was identifying cuts at a rate of $4bn a day.
But the Monthly Treasury Statement for February showed that few large categories had achieved significant decreases. The Department of Education had cut outgoings by $6bn, Treasury officials noted."
https://www.ft.com/content/6d938875-d9c8-47b1-9116-eef577d2cb98
#USA #Musk #DOGE #Trump #FederalBudget
Elon Musk’s cuts fail to stop US federal spending hitting new record
Government spending rose to $603bn in February despite hyperactive efficiency drive, data showsJoe Miller (Financial Times)
yianiris •
#Neoliberalism =anti-#Syndicalism = #Fascism = #anti-communsim
It is capital's reaction to labor organization for 1.5 centuries, dressed with pseudo-ideology and tons of #populism
@remixtures