President Donald Trump has announced a proposal to redistribute savings from Elon Musk’s government efficiency initiative, suggesting 20 percent go to American citizens and another 20 percent toward reducing the federal debt.
At the Future Investment Initiative Summit in Miami Beach, Trump highlighted the significant savings that Musk’s Department of Government Efficiency (DOGE) identified, stating, “The numbers are incredible, Elon. So many billions of dollars… hundreds of billions.”
The proposal follows DOGE adviser James Fishback’s suggestion of a “DOGE dividend.” Fishback, CEO of Azoria, outlined in a memo on X that each tax-paying household could receive $5,000 if the task force achieves its projected $2 trillion in savings by July 2026.
In response to Fishback’s proposal on X, Musk indicated he would “check with the President.” However, the Tesla and SpaceX CEO has revised his initial $2 trillion savings estimate, now suggesting $1 trillion as more realistic.
DOGE, which operates unofficially, claims $55 billion in savings thus far but hasn’t provided detailed documentation. A recent publication of canceled contracts totaling $16 billion included an error, listing an $8 million Immigration and Customs Enforcement contract as $8 billion.
Academic experts have expressed skepticism about the initiative. UC Berkeley’s Guo Xu characterized it as “a populist measure designed to make the crippling of our federal government capacity more appealing,” advocating instead for infrastructure, science, and national security investments.
University of Chicago’s Canice Prendergast suggested the “savings” might primarily cover worker severance payments. He noted that while government inefficiency exists, addressing it effectively is challenging, particularly given that major federal spending goes to untouchable programs like Social Security and Medicare.
“While I am pretty sure that a serious look at the government bureaucracy could find valuable savings, it’s not likely to happen in the 90 seconds that the current administration seems to have thought about it,” Prendergast concluded.
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