Additional Coverage:
- Can DOGE dent inflation? Elon Musk says yes (foxbusiness.com)
At a Wisconsin town hall meeting on Sunday, Elon Musk addressed the state’s upcoming supreme court election and touted the Department of Government Efficiency’s (DOGE) cost-cutting measures as a key factor in curbing inflation. Musk expressed confidence that DOGE’s efforts could improve taxpayer money spending by at least 15%, a goal he described as “reasonable, rational, and sensible.”
He explained that coupling a $1 trillion increase in economic output with a $1 trillion decrease in the budget deficit should eliminate, or significantly reduce, inflation. Musk predicted stable grocery prices through the end of next year, potentially leading to a slightly higher standard of living. He contrasted this with the “rampant inflation” experienced to date, which he characterized as a “pernicious tax” historically employed by governments.
Musk, who leads DOGE, argued that inflation, driven by government policies, acts as an indirect tax on consumers. He asserted that while consumers often blame retailers for rising prices, the responsibility lies with the government for devaluing money.
Furthermore, Musk highlighted DOGE’s efforts to transition workers from government to private sector roles. He believes this shift will enhance economic efficiency, increase the production of goods and services, and ultimately raise the average standard of living.
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- Can DOGE dent inflation? Elon Musk says yes (foxbusiness.com)