EconomyLens.com
No Result
View All Result
Tuesday, June 17, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

Musk details mass cuts to US federal spending and staff

David Peterson by David Peterson
November 20, 2024
in Economy
Reading Time: 4 mins read
A A
2
30
SHARES
373
VIEWS
Share on FacebookShare on Twitter

US President-elect Donald Trump said Elon Musk would lead an efficiency drive under his new administration. ©AFP

Washington (AFP) – Elon Musk outlined plans Wednesday for his new role as “efficiency” czar — signaling an assault on federal spending and staffing that would be backed by President-elect Donald Trump’s executive powers and a conservative Supreme Court.

Related

Spain says ‘overvoltage’ caused huge April blackout

Trump says EU not offering ‘fair deal’ on trade

UK automakers cheer US trade deal, as steel tariffs left in limbo

Global oil demand to dip in 2030, first drop since Covid: IEA

US retail sales slip more than expected after rush to beat tariffs

In the Wall Street Journal, the world’s richest man said he was taking aim at hundreds of billions of dollars in government spending — including funding for public broadcasting and abortion rights group Planned Parenthood — as well as at bureaucracy that represents an “existential threat” to US democracy. The Tesla and SpaceX CEO said that he, along with fellow businessman and Trump loyalist Vivek Ramaswamy, would work to slash federal regulations and make major administrative cuts and cost savings.

“We are entrepreneurs, not politicians. We will serve as outside volunteers, not federal officials or employees,” Musk and Ramaswamy wrote in their most detailed remarks since Trump named them heads of a new Department of Government Efficiency.

Musk said DOGE — a nod to Musk’s support for a cryptocurrency — will prepare a list of regulations issued by government agencies without Congress approval, which Trump could then invalidate by executive order. “When the president nullifies thousands of such regulations, critics will allege executive overreach. In fact, it will be correcting the executive overreach of thousands of regulations promulgated by administrative fiat that were never authorized by Congress,” Musk said.

He added that a reduction in regulations would pave the way for “mass head-count reductions across the federal bureaucracy,” and said DOGE would aim to cut more than $500 billion in government expenditures. “With a decisive electoral mandate and a 6-3 conservative majority on the Supreme Court, DOGE has a historic opportunity for structural reductions in the federal government,” Musk said.

© 2024 AFP

Tags: Elon Muskgovernmentpolitics
Share12Tweet8Share2Pin3Send
Previous Post

Ryanair threatens to drop 10 French airports over tax hike

Next Post

Macron praises EU-Chile trade agreement on Latin America tour

David Peterson

David Peterson

Related Posts

Economy

Why stablecoins are gaining popularity

June 17, 2025
Economy

Bank of Japan holds rates, will slow bond purchase taper

June 17, 2025
Economy

Ecuador pipeline burst stops flow of crude

June 16, 2025
Economy

Yen slides ahead of Bank of Japan policy decision

June 16, 2025
Economy

War, trade and Air India crash cast cloud over Paris Air Show

June 16, 2025
Economy

China factory output slows but consumption offers bright spot

June 16, 2025
Next Post

Macron praises EU-Chile trade agreement on Latin America tour

Musk outlines plans for mass cuts as Trump 'efficiency' czar

Arrested son of Norwegian princess suspected of second rape

Nvidia crushes earnings expectations on AI chip demand

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
2 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

72

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

US retail sales slip more than expected after rush to beat tariffs

June 17, 2025

Taiwan tests sea drones as China keeps up military pressure

June 17, 2025

G7 leaders urge Trump to ease off trade war

June 17, 2025

Oil prices rally, stocks slide as traders track Israel-Iran crisis

June 17, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.