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By how much will the federal budget deficit be reduced by the end of 2025?
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Donald Trump•Elon Musk•Vivek Ramaswamy•Department of Government Efficiency•DOGE•Wall Street Journal•Musk•Ramaswamy•Javier Milei•Supreme Court
Resolution / Starting Odds
Deficit reduced by less than $100 billion • 25%
Deficit reduced by $100 billion to $200 billion • 25%
Deficit reduced by $200 billion to $300 billion • 25%
Deficit reduced by more than $300 billion • 25%
Federal budget reports or announcements from the Department of the Treasury
Story
Trump's DOGE Led by Musk and Ramaswamy to Cut $2.7 Trillion Waste, End Remote Work
Nov 20, 2024, 10:28 PM
President-elect Donald Trump has appointed Elon Musk and Vivek Ramaswamy to lead the newly formed Department of Government Efficiency (DOGE), tasked with drastically reducing government spending and bureaucracy. In a Wall Street Journal op-ed, Musk and Ramaswamy outlined plans to identify thousands of federal regulations for elimination, justifying mass head-count reductions across federal agencies and pushing for structural reductions in the government workforce. They propose enforcing strict in-person office attendance to encourage resignations, effectively ending remote work for over a million federal employees. Their strategy includes shutting down entire agencies, implementing "Javier Milei-style cuts," and cutting unauthorized spending estimated at over $500 billion annually. They highlighted that since 2003, there has been $2.7 trillion in waste, fraud, and abuse. Leveraging recent Supreme Court rulings, they aim to diminish regulatory overreach through executive action rather than new legislation. Musk and Ramaswamy warn that the "entrenched and ever-growing bureaucracy represents an existential threat to our republic."
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