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I'm not sure how any of the current initiatives will lead to a balanced budget, to be honest. Here's a site by the Congressional Budget Office, which will likel
by nxobject 2y ago
I'm not sure how any of the current initiatives will lead to a balanced budget, to be honest. Here's a site by the Congressional Budget Office, which will likely be more reliable than the Treasury going forward.
https://www.cbo.gov/publication/60843/html https://www.cbo.gov/publication/60843/html
- Over FY24, revenue ran to $4.19 trillion, while spending ran to $6.14 trillion – leaving (up to rounding before calculation) a deficit of $1.95 trillon.
– Of all of this spending, ~$4.10 trillion is likely untouchable politically, since accounted for by the DoD, Social Security, Medicare, and interest on public debt. This leaves us with ~$2.04 trillion worth of spending to cut $1.95 trillion from. I think you can see how feasible that is.
Federal salaries and benefits are _peanuts_ compared to the trillions of dollars involved – I think around 8.6%, although the CBO doesn't have spending broken down by cost objects.
Assuming Elon's run the numbers, he'll be perfectly aware that trimming down the federal workforce won't do jack shit to get the US to a balanced budget. His motivations are different.