Market
Will DOGE cut Inflation Reduction Act spending by the end of 2024?
3
Elon Musk•Vivek Ramaswamy•Department of Government Efficiency•DOGE•Congressional Republicans•House•Democrats•Inflation Reduction Act•Trump
Resolution / Starting Odds
Yes • 50%
No • 50%
Official government budget reports and amendments
Story
Musk, Ramaswamy's DOGE Aims to Save $2T, Address $36T Debt
Dec 12, 2024, 07:34 PM
Elon Musk and Vivek Ramaswamy are leading a new initiative, the Department of Government Efficiency (DOGE), aimed at reducing the size and scope of the federal government. Their plans include ending remote work for federal employees, cutting regulations, and reducing wasteful spending, with a goal of saving $2 trillion. Despite the ambitious goals, there are concerns about the legal and political feasibility of their approach. Congressional Republicans have expressed support for these efforts, but the narrow majority in the House and opposition from Democrats could hinder progress. The initiative has sparked debate over the effectiveness of such measures in addressing the growing national debt, which has reached $36 trillion, and the potential impact on federal employees and government operations. The Inflation Reduction Act's wasteful spending is also under scrutiny by DOGE, which aims to execute President-elect Trump's fiscal agenda.
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