Elon Musk said he anticipates the Department of Government Efficiency's efforts to slash "waste and fraud" from the federal government will cut $150 billion in spending over the next fiscal year, appearing to dramatically lower much-loftier projections he previously touted.
@#2 ... It was originally $2 Trillion. So about 7.5% of target. ...
What will the DOGE net savings be?
Considering the IRS is now crippled and cannot persue wealthy tax cheats, that $150 billion may not even be seen.
Tax revenue could drop by 10 percent amid turmoil at IRS (March 22, 2025)
www.washingtonpost.com
... Senior tax officials are bracing for a sharp drop in revenue collected this spring, as an increasing number of individuals and businesses spurn filing their taxes or attempt to skip paying balances owed to the Internal Revenue Service, according to three people with knowledge of tax projections.
Treasury Department and IRS officials are predicting a decrease of more than 10 percent in tax receipts by the April 15 deadline compared with 2024, said the people, who spoke on the condition of anonymity to share nonpublic data. That would amount to more than $500 billion in lost federal revenue; the IRS collected $5.1 trillion last year. ...
Drudge Retort Headlines
GOP Won't Install Jan. 6 Plaque Honoring Law Enforcement (34 comments)
House Passes Trump's Sweeping Tax-Cut Bill and Sends it to Senate (30 comments)
US Bond Sell-off Is Creating a Debt Spiral (28 comments)
Trump's Image of Dead 'white farmers' Came from Congo, not South Africa (21 comments)
Trump's 'Golden Dome' Defense Plan Faces Major Challenges (17 comments)
Judge Halts Dismantling of Education Department (16 comments)
US Treasury Confirms the End of the Penny (15 comments)
Judge Blocks Trump Administration Mass Layoffs at U.S. Agencies (15 comments)
Trump's Rambling Speech at West Point Speech (11 comments)
France, Saudi Arabia Push for Gaza Peace by Disarming Hamas (10 comments)