President Trump recently discussed the new Department of Government Efficiency (DOGE) and its plans to potentially give back money to taxpayers. He mentioned that the department could return 20% of the savings from job cuts and budget cuts back to American citizens.
During his speech, Trump labeled this idea as “a new concept.” He proposed that 20% of the savings would go to citizens, with another 20% aimed at reducing debt. However, he didn’t clarify what would happen to the remaining 60% of the savings.
It’s unclear if Trump meant consumer debt or the national debt, which is currently around $36 trillion. His comments hinted at both possibilities. Before he took office, Elon Musk, who is leading DOGE, estimated that cost-cutting could reach $1 trillion.
Details on how these taxpayer returns would work are sparse. It’s also unknown if Trump needs Congress’s approval for this plan. The White House has yet to comment on these questions.
Trump made these statements at an international investment conference in Miami Beach, Florida. The event was organized by the Future Investment Initiative, a Saudi foundation aiming to boost the country’s economy and culture. The audience included notable figures like Elon Musk, the governor of the Saudi sovereign wealth fund, and the Saudi ambassador to the U.S.
In his speech, Trump praised DOGE’s work, claiming it would save “billions, hundreds of billions” of dollars from wasteful spending. He highlighted the importance of addressing the nation’s debt, stating, “If it were a real estate balance sheet, the debt is tiny, but we still want to pay it down.” He emphasized that the country should not view the debt lightly, saying, “It’s America.”
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Trump, Donald J,Government Efficiency Department (US),Musk, Elon,Rebates and Refunds,Appointments and Executive Changes,Executive Orders and Memorandums,Reema bint Bandar bin Sultan, Princess of Saudi Arabia,Infantino, Gianni
