President Donald Trump said on Wednesday (19) that he “loves” the idea of donating part of the savings that the Department of Government Efficiency (DOGE), led by billionaire entrepreneur Elon Musk, is making to American citizens as a sort of dividend.
Since Trump took office in January, one of his main priorities has been to cut spending within the federal government, even creating a dedicated department for this purpose. The efforts of DOGE have already led to thousands of federal government employees being laid off.
In an interview that aired earlier this week on FOX, Trump and Musk said they hope to find $1 trillion in federal spending that they claim is excess and can be cut.
Speaking at an investment conference in Miami, Trump confirmed that his administration is considering a plan in which 20% of the savings produced by DOGE’s cost-cutting measures would go to U.S. citizens and another 20% to pay down the national debt. Trump also stated that the potential for dividend payments would encourage people to report unnecessary spending.
Trump did not share additional details about such a plan, or where the other 60% of DOGE’s savings would be allocated.
Experts believe that the populist proposal from the Trump administration, if it actually materializes, could generate more inflation at a time when the country is struggling to stabilize it.
Source: Fox News