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The idea of DOGE has been linked to Trump's campaign promises to cut federal spending and reduce the size of government and the size of the federal fiscal deficit. [ 2 ] [ 3 ] The concept of DOGE emerged in a discussion between Elon Musk and Donald Trump, where Musk floated the idea of a department for streamlining government efficiency.
Government spending can be a useful economic policy tool for governments. Fiscal policy can be defined as the use of government spending and/or taxation as a mechanism to influence an economy. [13] [14] There are two types of fiscal policy: expansionary fiscal policy, and contractionary fiscal policy. Expansionary fiscal policy is an increase ...
The term "red tape" is sometimes employed as "an umbrella term covering almost all imagined ills of bureaucracy," both public and private. [2]: 275 However, red tape is usually defined more narrowly as government policies, guidelines, and forms that are excessive, duplicative and/or unnecessary, and that generate a financial or time-based compliance cost.
Proponents of the Department of Government (DOGE) say that it will work with Congress to slash up to $2 trillion in government waste and spending bringing more transparency.
The government spending is "crowding out" investment because it is demanding more loanable funds and thus causing increased interest rates and therefore reducing investment spending. This basic analysis has been broadened to multiple channels that might leave total output little changed or even smaller.
The US government's Bureau of Economic Analysis as of Q3 2023 estimates $10,007.7 billion in annual total government expenditure and $27,610.1 billion annual total GDP which is 36.2%. [1] This government total excludes spending by "government enterprises" which sell goods and services "to households and businesses in a market transaction."
Elon Musk has thrown down a $2 trillion gauntlet, claiming he can slash federal spending by that amount. While the billionaire's proclamations on X often generate more heat than light, one can ...
The Act effectively removed the impoundment power of the president and required him to obtain Congressional approval if he wants to rescind specific government spending. President Nixon signed the Act with little protest because the administration was then embroiled in the Watergate scandal and unwilling to provoke Congress.