U.S. President Donald Trump announced in Miami that he is considering a plan to return part of the government’s cost-saving measures to American citizens. He also claimed that his administration had ended what he called Joe Biden’s war on cryptocurrency.
Trump’s proposal involves using 20% of the savings from the Department of Government Efficiency (DOGE)—a cost-cutting initiative led by Elon Musk—to provide financial benefits to Americans. Another 20% would go toward paying down the national debt, which has now surpassed $36 trillion.
President Considers Returning 20% of DOGE Cost-Cutting Funds to Citizens. Source: XDOGE Has Saved Approx. $55 Billion
DOGE was established to reduce government spending by canceling contracts, cutting unnecessary expenses, and laying off government workers. The department has saved an estimated $55 billion through these efforts.
However, these savings cannot be fully verified. The website states that it has listed only a “subset” of the over 1,000 canceled contracts and leases, making it unclear how much money has actually been saved.
The accuracy of DOGE’s figures has also been questioned. For example, a New York Times report found that the site listed an $8 billion canceled contract, which was actually worth only $8 million. DOGE later confirmed on social media that it had always used the correct figure in its calculations.
DOGE said that it has always used the correct $8M figure in its calculations. Source: DOGE on XHow Much Would Americans Receive?
If the reported $55 billion in savings is correct, 20% of it would equal $11 billion. If this amount were distributed evenly among all U.S. taxpayers, each person would receive less than $67.50.
Using another $11 billion to help reduce the national debt would only cover about 1.3% of the $839.5 billion U.S. deficit for the current fiscal year.
While the potential payout to Americans is relatively small, Trump’s proposal signals his focus on reducing government waste and providing financial relief to citizens.
Trump Declares: Biden’s ‘War on Crypto’ Is Over
During the same speech, Donald Trump showed his support for cryptocurrency. He pointed to an executive order he signed last month, which he says helped end Biden’s “war on Bitcoin and crypto.”
President Trumps said that he ended “Joe Biden’s war on Bitcoin and crypto. Source: X“We ended that war totally. That war is over. They were very hostile toward them until the very end,” Trump said.
His executive order created a crypto working group led by White House AI and crypto advisor David Sacks. The group is responsible for developing a legal framework for cryptocurrencies and studying the possibility of a national cryptocurrency stockpile.
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