It will take a fiscal crisis the size the Peronists
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It will take a fiscal crisis the size the Peronists
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About this listen
During the Presidential campaign last year when Elon Musk predicted he could reduce Federal spending by $2 trillion, we wished him godspeed. We also were highly dubious. After all, $2 trillion represented roughly 30% of Federal spending. Since spending for Social Security, Medicare, Medicaid, Defense, interest on the national debt and miscellaneous other quasi-welfare programs are essentially on auto-pilot...and represent about 70% of spending, a $2 trillion cut would mean cutting everything else the government spends money on, all the three letter agencies, the Federal court system, Congressional salaries, Air Force One, you name it. We were right. Now Musk claims cuts of $170 billion, or about 1/12 as much as the original $2 trillion projection. Critics claim that figure is inflated. Despite the hew and cry from the left that the government was being dismantled, Federal spending in the first 100 days of the Trump administration is almost exactly equal to the corresponding 100 days of 2024. At best, maintaining the status quo.