Trump Endorses Musk's Plan

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government spending

PBS

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Business

Business & Economics

Could Trump really give money from Musk's DOGE cuts to taxpayers?

Summary

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74% Informative

President Donald Trump has endorsed a proposal to distribute $ 5,000 checks from billionaire Elon Musk's drive to cut government spending.

Musk has estimated that his Department of Government Efficiency has cut $55 billion so far.

But experts say such huge savings — nearly one-third of the federal government’s annual spending — are highly unlikely.

Trump and his economists blame Biden ’s $ 1,400 stimulus checks, distributed in the spring of 2021 , for fueling the worst spike in inflation in four decades .

Yet they maintain that sending checks stemming from reduced government spending wouldn’t boost inflation.

Some Democrats agree with the White House , but for different reasons.

The U.S. unemployment rate is now much lower than in 2021 , an economist says.

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formal

Language

English

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Offensive language