US President Donald Trump has announced plans to establish a government cost-cutting department called the Department of Government Efficiency, led by Tesla CEO Elon Musk.
President Trump said at an event held at My ARMY that his administration will be able to return 20% of the budget cuts made by the Democratic Party of Korea (DOGE) to citizens.
He noted that he has ended President Joe Biden's "anti-cryptocurrency policies" and said he is looking at ways to give the money back to the American people.
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"We are looking into a new concept of how to return 20% of the DOGE savings to the US citizens," he said, adding, "20% of the DOGE cost savings can be used to repay the national debt, and currently, the US
The country's national debt has exceeded $36 trillion," he added. According to the DOGE website, the department has cut about $55 billion through measures such as canceling government contracts and cutting civil service positions.
However, this figure has not been verified. DOGE's website states that "a list of over 1,000 cancelled contracts and leases represents a 100% reduction in the overall amount of DOGE's revenue."
The New York Times reported on the 18th that the amount of DOGE contract cancellations was inflated.
The $8 billion contract that GE claimed to have cancelled was actually worth $80 million." In response, DOGE posted on the 19th, "The 8 billion contract that GE claimed to have cancelled was actually worth $80 million.
On the same day, Musk said through X that he had proposed to Trump a tax cut that would be linked to the DOGE reduction amount.
2025/02/20 16:32 KST
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