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What measures will the US government implement to reduce national debt by end of 2025?
2
Resolution / Starting Odds
Increase taxes • 25%
Cut spending • 25%
Both increase taxes and cut spending • 25%
No significant measures • 25%
Official government announcements or legislative records
Story
Elon Musk Proposes D.O.G.E Amid $36 Trillion US Debt Surge
Dec 1, 2024, 07:03 AM
Elon Musk has voiced concerns over the United States' rapidly increasing national debt, which has now surpassed $36 trillion. Musk has criticized the government's spending, calling for increased efficiency and transparency in how taxpayer money is utilized. He has proposed the creation of a 'Department of Government Efficiency' (D.O.G.E) to address what he describes as a 'staggering amount of waste' in federal expenditures. Musk's comments come at a time when the U.S. federal debt has skyrocketed by $2 trillion since the beginning of 2024, with the government borrowing approximately $182 billion each month. This escalation in debt has led to a national debt-to-GDP ratio of over 120%, with projections estimating it will reach 131% by 2034. The fiscal year 2024 ended with a federal deficit of $1.83 trillion, or 6.4% of GDP, highlighting the government's borrowing at a rate of $5 billion per day.
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Increase taxes • 25%
Cut spending • 25%
Borrow more • 25%
Combination or other • 25%
Yes • 50%
No • 50%
Increase in Taxes • 25%
Decrease in Spending • 25%
Combination of Both • 25%
No Significant Changes • 25%
Permanent abolition • 25%
Temporary extension • 25%
Compromise with new conditions • 25%
Unresolved • 25%
Debt ceiling abolished • 25%
Debt ceiling raised • 25%
Debt ceiling unchanged • 25%
Other outcome • 25%
Debt Reduction • 25%
Economic Growth • 25%
Social Programs • 25%
Tax Reform • 25%
Abolished • 25%
Extended to 2029 • 25%
Extended with a different date • 25%
No change • 25%
Abolished • 25%
Suspended • 25%
Increased • 25%
Unchanged • 25%