Skip to content
Trending
December 12, 2025Disney’s ‘Zootopia 2’ to hit $1 billion box office, only the second Hollywood film to do so this year April 15, 2025Online trading platform Webull soars 375% in second day on market after SPAC merger June 27, 2025Core inflation rate rose to 2.7% in May, more than expected, Fed’s preferred gauge shows August 26, 2025Trump’s Cook firing will likely end up in the Supreme Court’s hands September 2, 2025Euro zone inflation rises to hotter-than-expected 2.1% in August March 26, 2025British businesses pile on the pressure on U.K. Financial Minister Reeves ahead of budget update August 26, 2025German autos sector slashes jobs as economic woes bite April 15, 2025Goldman’s earnings provide reasons to believe in the stock despite a blurry backdrop March 24, 2025L’Oreal CEO plays down the impact of U.S. tariffs, says he’s ‘not overly concerned’ March 3, 2025Warren Buffett calls Trump’s tariffs a tax on goods, says ‘the Tooth Fairy doesn’t pay ’em’
  Monday 8 June 2026
everydayread.net
  • HOME
  • Bitcoin
  • Business
  • Earnings
  • Economy
  • Finance
everydayread.net
everydayread.net
  • HOME
  • Bitcoin
  • Business
  • Earnings
  • Economy
  • Finance
everydayread.net
  Economy  Elon Musk says Trump’s spending bill undermines the work DOGE has been doing
Economy

Elon Musk says Trump’s spending bill undermines the work DOGE has been doing

AdminAdmin—May 28, 20250

U.S. President Donald Trump and Tesla CEO Elon Musk, alongside Musk’s son X Æ A-Xii, speak to the press as they stand next to a Tesla vehicle on the South Portico of the White House in Washington, D.C., on March 11, 2025.

Mandel Ngan | AFP | Getty Images

Elon Musk criticized the Republican spending bill that recently made it through a House vote, saying it counters the work he’s been doing to reduce wasteful government spending.

More stories

Job openings showed surprising increase to 7.4 million in April

June 26, 2025

Consumer sentiment nears lowest level ever as worries build over shutdown

November 7, 2025

Core wholesale prices rose less than expected in September; retail sales gain

November 26, 2025

Credit default swaps are back in fashion — even if the panic might be overblown

May 29, 2025

In an interview to be aired June 1 on “CBS Sunday Morning,” the richest man in the world and the head of the Department of Government Efficiency advisory board said the “big, beautiful bill” will not help the nation’s finances.

“I was, like, disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decrease it, and undermines the work that the DOGE team is doing,” Musk said in a clip the program shared on social media platform X.

DOGE says it has saved $170 billion in taxpayer money since it began in January, targeting areas of government waste and redundancy in sometimes-controversial ways.

For instance, it has gutted the U.S. Agency for International Development and reduced staff elsewhere. DOGE-related moves have been responsible for some 275,000 government layoffs, according to Challenger, Gray & Christmas, a consultancy firm.

The sweeping One Big Beautiful Bill Act by contrast, is projected to raise the federal budget deficit by $3.8 trillion over the next 10 years, according to the Congressional Budget Office. The deficit is on track in 2025 to run close to $2 trillion, with the national debt now at $36.2 trillion.

“I think a bill can be big or it could be beautiful, but I don’t know if it could be both,” Musk said in the clip.

Trump and congressional Republicans counter that the bill reduces spending in key areas and will generate enough growth to compensate for the tax reductions. The legislation, though, is expected to face strong resistance in the Senate.

For his part, Musk has pulled back his DOGE work, saying he plans to focus on running his companies, which include X, Tesla and SpaceX. Musk had been a frequent presence in the White House since Trump’s election.

In an interview with The Washington Post published Tuesday, Musk said the federal bureaucracy is “much worse than I realized” and that DOGE became “the whipping boy for everything.”

Dick’s Sporting Goods stands by full-year guidance — even with tariffs looming
GameStop shares rise as retailer meme stock buys first bitcoin batch, scooping up $500 million
Related posts
  • Related posts
  • More from author
Economy

Trust these numbers? Economists see a lot of flaws in delayed CPI report showing downward inflation

December 18, 20250
Economy

Watch Fed Governor Christopher Waller speak on interest rates and the race to succeed Powell

December 17, 20250
Economy

Hassett says Fed independence is ‘really important’ and chair candidates shouldn’t be disqualified for being Trump’s friend

December 16, 20250
Load more
Read also
Earnings

Google cloud growth tops Microsoft and Amazon as all three beat estimates on AI demand

May 2, 20260
Finance

Visa says new AI shopping tool has helped customers with hundreds of transactions

December 18, 20250
Economy

Trust these numbers? Economists see a lot of flaws in delayed CPI report showing downward inflation

December 18, 20250
Earnings

Nike tops earnings estimates but shares fall as China sales plunge, tariffs hit profits

December 18, 20250
Business

American Airlines no longer lets basic economy flyers earn miles

December 18, 20250
Finance

Billionaire fund manager Ron Baron praises beaten-up financial stock whose new CEO he compares to Jamie Dimon

December 17, 20250
Load more
    © 2022, All Rights Reserved.
    • About Us
    • Advertise With Us
    • Contact Us
    • Disclaimer
    • Cookie Law
    • Privacy Policy
    • Terms & Conditions