Elon Musk's Government Efficiency Push Falls Short As Treasury Data Shows Spending Up Sharply Since Trump's Inauguration: Report
www.benzinga.com
Despite Elon Musk's claims that the Department of Government Efficiency has saved $150 billion, federal spending under Trump's second term has increased by $154 billion, driven largely by rising entitlement costs and debt interest payments, with limited short-term impact from DOGE's cuts.

Despite aggressive cost-cutting by the so-called Department of Government Efficiency, federal spending has reportedly climbed by $154 billion since Donald Trump returned to office.

Government spending is significantly higher under Trump’s second term compared to the same period in 2024 under Joe Biden, according to the analysis by the Wall Street Journal, citing the Treasury Department’s daily financial statements.

The increase—$154 billion—comes even as DOGE, led by Elon Musk, touts $150 billion in cost savings through job cuts, contract terminations, and the rollback of diversity and aid programs.

  • Boddhisatva@lemmy.worldEnglish
    8·
    9 days ago

    Longer than that, I bet. This report from EPIAction doesn’t specifically mention spending increases and decreases, but all other economic indicators have been better under Democrats than they have under Republicans for at least 75 years.

    Since 1949, there has been a Democratic advantage in the average performance of key macroeconomic indicators measuring economic health, including:

    • Gross Domestic Product (GDP) growth

    • Job growth

    • Unemployment rate

    • Growth in inflation-adjusted wages

    • Growth of market-based incomes per capita

    • Inflation

    • Interest rates

    The US economy has performed better when the president of the United States is a Democrat rather than a Republican, almost regardless of how one measures performance…The superiority of economic performance under Democrats rather than Republicans is nearly ubiquitous: it holds almost regardless of how you define success. By many measures, the performance gap is startlingly large.