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What will be the economic impact of DOGE's recommendations by end of 2025?
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Resolution / Starting Odds
Economic growth with inflation • 25%
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Economic recession • 25%
Economic reports from the Federal Reserve or Bureau of Economic Analysis
Story
Elon Musk Lowers DOGE Budget Cut Target to $1 Trillion, Aims for No Inflation
Jan 9, 2025, 02:44 PM
Elon Musk, co-head of the Department of Government Efficiency (DOGE), has backtracked on his initial promise to cut $2 trillion from the federal budget. In a recent interview, Musk described the $2 trillion target as a 'best-case outcome' and suggested that achieving half that amount, or $1 trillion, would be more realistic. He emphasized that cutting the budget deficit from $2 trillion to $1 trillion could lead to economic growth without inflation, which he referred to as an 'epic outcome.' Musk, alongside Vivek Ramaswamy, leads DOGE, an advisory body created by President-elect Donald Trump to recommend ways to reduce federal spending. However, DOGE has no official authority to implement these cuts directly.
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