Elon Musk criticizes the 'overstaffed' Fed in his quest for efficiency
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- เผยแพร่เมื่อ 23 ธ.ค. 2024
- The Lonski Group President John Lonski discusses whether the incoming Trump administration will make it more difficult for the Fed to accomplish its inflation goals on 'Making Money.' #foxbusiness #makingmoney
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FIRE THE FED!
The federal government is the largest employer in the United States. Nobody has ever told the largest employer in the United States what to do! They are over budgeted and over staffed! The policy at these independent agencies is to spend the entirety of their yearly budget to receive a larger amount the following fiscal year, because common sense dictates that if we have money left over…it gets cut!
Elon has control thru X algorithms, to lie about Congress getting a 60% increase, when it was only 3.9%. And that move helped his personal investments in China, while scrapping Trump’s request to eliminate the debt ceiling.
MAGA voted against their own interests, believing the globalist & richest man in the world, would make them rich too. Now they will watch Elon go from a Billionaire to a Trillionaire while increasing his government contracts thru DOGE.
MAGA always said they believe in America first. Now they are handing over policy and funding to a globalist and major China investor.
You like it. I love it!
That big federal government makes us the most powerful country in the world.
But once musk is done with it Russia and China will be the largest power..
That’s a problem with all bureaucracies across the world.
But then there is also a problem with profit driven companies taking care of essential services. As they will strive for ever increasing profitability.
Pushing for Efficiency is usually a good thing. Even though it can lead to reduced customer experience.
However merging into monopolies and then price gauging because there is no alternative is probably worse then a growing bureaucracy.
Leftovers get pocketed.
Every Single Dime.
Nobody pays $200 for a hammer.
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system.
We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation.
Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt.
Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work.
We know what the right thing is. Do it.
“I believe that banking institutions are more dangerous to our liberties than standing armies.” -Thomas Jefferson
Elon has control thru X algorithms, to lie about Congress getting a 60% increase, when it was only 3.9%. And that move helped his personal investments in China, while scrapping Trump’s request to eliminate the debt ceiling.
MAGA voted against their own interests, believing the globalist & richest man in the world, would make them rich too. Now they will watch Elon go from a Billionaire to a Trillionaire while increasing his government contracts thru DOGE.
You like it. I love it!
" However [political parties] may now and then answer popular ends, they are likely in the course of time and things, to become potent engines, by which cunning, ambitious, and unprincipled men will be enabled to subvert the power of the people and to usurp for themselves the reins of government, destroying afterwards the very engines which have lifted them to unjust dominion. "- George Washington
The reference to THE GOVT AS A CENTRAL BANK. Not Citibank.
Oh yeah and we haven't seen anything yet all the damage they've done is going to show in 2025
It's going to be a heck of a ride.
Convenient 😂
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Fed chair needs to be fired. He's going to work against Trump
Feds job is not to work the with president
TRUMP worries about No One he is The Man
Jpow himself isn't the issue, it's the fact the fed exists is the real problem
@@AliShenas1993 He should be fired because he handled the inflation issue poorly.
he was appointed by trump
End taxes and end the federal reserve. All they do is waste our tax dollars
“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.” -James Madison
this guy John " Lansky..? " believe it or not sounds like Joe Biden saying a lie about his Grandfather been intelligent
And the IRS too so we don't have to keep getting robbed by these crooks.
You don’t understand the system. The fed is necessary it’s the politicians,citizens “we the people are responsible for our problems “ we the people have allowed our elected representatives to borrow and spend 36.1 trillion dollars. Can’t blame the federal reserve. We the people have to put an end to government spending
If it wasn't for federal reserves, we'd have sky high inflation (far, far higher than it was during the crisis).
I hope there are massive layoffs in all agencies on the federal level!
Yes let's also hope for a economic depression.
@@chm2 no excuse not to cut the government spending.
@@robertreese5650really? What is your problem? Why are you so anti American?
If I thought you understood what they do I might take you seriously 🤦♂️
@Freeeedumb if you knew what they did I would take you seriously 😂
All none added value and DEI hires in government needs to go on day 1. Send the Twitter Treatment into Government
Agreed. And the Tariffs will be great. We could all use more inflation.
The largest employer in the Government is Dept. of Defense. And outside of the DOD, about 1/3 of the hires are Veterans. You should probably should go back to Fox and Friends where facts don't matter.
@@allonelife699Tariffs don't cause inflation. Government printing money they don't have is always the cause of inflation. 🤔
@@TwaunaPower-qc8eiBoth cause higher prices. Hidden cost like bank fees on credit card transactions all lead to higher prices.
Cut wages and pensions for all gov employee's.
And, deport these 50+ million free loading foreigners, usa just can't afford them.
You know military personnel our government employees as well
@@DeontaLee-q8b Regular people _don't get pensions,_ son. Government employees aren't special.
Think about the DMV. The post office. That's the quality of most government employees. We don't need most of them, and they CERTAINLY DO NOT DESERVE A GOODAM PENSION.
Especially politicians, senators, governor's. Give them minimum wage, and only for time worked cause they only work about a week a year. Make sure they aren't in the elite club. Businessmen are kinda sneaky. We need normal people with morals and values.
@hxhdfjifzirstc894 why don't govt workers deserve a pension?! Course they do, who are you to say they dont
"Retaliatory Tariffs" I thought Powell has said the Fed is independent and apolitical?
The good news is America doesn't really make anything anymore, so there's very little to retaliate against.
The Fed should be disbanded!
Over staffed is the result of government employee services unions. Ban unions in government. These are not coal miners or machinists. Government workers have no right to collective bargaining with taxpayers.
Govt should be treated like corporate America. No fancy perks, no pensions, no overpriced health… most city/govt workers are employed because of friends, family, rarely qualifications
How about we stop bailing out banks and airlines that then gove their ceos huge raises soon after a bail out, let them gwt absorbed by larger banks and airlines
The Federal Reserve needs to be ended. You wanna know why we have such chaos in the economy? It's all because of them.
Please, educate us? I am sure you have facts and examples and just didn't get this from some right wing propaganda show where a pundit was screaming into the camera. Please, give us an economics lesson. I really want to hear this.
When have you ever needed to contact a Federal Government Department and thought WOW - that was quick and efficient - they really need to cut staff?
Mostly I think- Wow - how imcompetent, Wow - how lazy, Wow - how rude, Wow - how entitled, Wow - how slow and arduous , Wow - if these people had to make it in private industry, Wow- I guess they forgot that they are a public servant... and so on and so forth. The problem with government workers is not understaffing, but underperformance!
@@lawdawgdirtmonkeygross underperformance
It's really none of your business you left us with a mess
Right at this very moment AMERICA has the greatest economy in the world THE BEST feds lowered interest rates inflation was but not now going down
If it were a flat tax we wouldn't need the IRS
You people are hearing but not listening to what Trump is sayingl...Tariff is only a negotiating and bargaining tool, but if he has to use it, he will.
The Federal reserve work for the banks, not the people. Who allowed them to have such a name when we know they have absolutely nothing Federal about.
They can start with the office of personal management and then go to the Department of Veterans Affairs
4:00 "it doesn't make any sense"....yes, finally someone on FOX stating the obvious
I love elon he's a great friend with the USA
Elon has control thru X algorithms, to lie about Congress getting a 60% increase, when it was only 3.9%. And that move helped his personal investments in China, while scrapping Trump’s request to eliminate the debt ceiling.
MAGA voted against their own interests, believing the globalist & richest man in the world, would make them rich too. Now they will watch Elon go from a Billionaire to a Trillionaire while increasing his government contracts thru DOGE.
You like it. I love it!
He should be a great friend he gets billions of taxpayer dollars
He's a friend of other billionaires.. 😂😂😂 musk doesn't give a flying fart about the working class people.. long as they keep buying his garbage vehicles he's cool with it.. 😂
The incompetent money grabbing thief’s need to go….
Trump knows what he is doing. He is a business man and he loves America
😂😂😂😂😂😂😂
SENILE TRUMP DONT KNOW WOMEN SITTIN NEXT TO HIM SHE SIDING THERE
😂😂😂
He has a history of bankruptcy, even bankrupted a Casino. Now that is impressive.
The primary goal of the governing of a country should be about the welfare of its citizens, which is OPPOSITE to how business runs! So over you morons going on about trump being a businessman makes him a good president. For the love of our lord idiot, how many Le residents hock crap like sneakers, watches ect. Wake up
So strange that Powell was radio silent regarding any policies the Biden administration pumped out, but boy does he have a lot to say when it comes to Trump's proposals even though Pres Trump has not even taken office yet
When things are working there is little to say, when the mechanic is hitting the engine with a sledgehammer you should speak up.
I hope that J. Paul is going to be fired. He is not trustworthy and competent.
It doesn’t take Elon Musk to figure out our Federal government is inefficient and wasteful !
It does take an outside source to attempt positive change with backing of a majority of American voters !
NOT GET THE BUDGET DOWN --- Get The Budget Balanced or Better!
It doesn't work the same as it does at your kitchen table 🤦♂️
The only jobs created in bideb admin was people going back to work and added gov jobs. So.....none basically
chasing inflation with easy credit Made a lot of people poor
I’ve seen and heard people call for politicians to receive decreased wages for years. They wanted to see their wages garnished, not increased. Yet all we saw was an increase. The very people who drove up inflation and made the cost of living increase get a raise but we do not.
He's lying it's going to get worse we haven't seen anything yet. I just found out somebody from Social Security who directed me for me getting my Social Security she told me 3 months too soon
We the non government people hope that there are major layoffs from the Federal government.
Yep, we don't need most of it. Let's cut back to just the military, and the bare bones requirements of what the Constitution says.
Speak for yourself.
Isn’t that what happens when you put all the Mom and Pops out of business?
Trillions of debt hows that going to be paid? Costs go up for businesses they have no choice but to put their prices up on their product they make. United States needs to start making their own consumers products. Buy local help your states survival. Buy from local people, farmers and stores
Supplies are not enough here lol trade been around for ages
What about cia , fbi , pentagon , 1:26 home land security , 😊and more and more
Tariffs at 50% (world wide)= no income tax, ss fully funded and deficit reduced. Win win.......
That is so incredibly wrong 😂
Omfg 😂😂😂😂😂😂
No property taxes. I own my house and they keep raising them and if I don't pay they steal it.
@@flex2of4 😂😂😂😂🤦♀️🤦♀️
Cut jobs, cut taxes!
So you want people out of work?
@ nope. I am stating if they cut jobs, then cut taxes!
Powel trying to convince people inflation isn’t his fault, it’s the result of future tariffs……hold Powel accountable
Way overstaffed.
More money for the states!!!
Less money for the federal.
Example look at the postal service.
Some pots just open
8. To 4.
You work 8 to 4.
So you end up using
A private company to
Send a postal and money
To your parents.
Them. They still receive
A lot of money from the .
MUST OF THE TIME
COSTIMER SERVING IS
000000. BECAUSE
????
STATS?¿NO SUPERVISION.
MUST OF THE UNITS
THEY PERFORM WELL
OTHERS !!!! RUDE SERVICE.
Most postal workers work 10 to 12 hours, not stations hour's
Musk with his hands in a power position. He gets it.
ONCE AGAIN, MUSK IS SPOT ON
He can criticize all he wants as long as he understands his money isn't gonna buy him a seat at the table. If billionaires can buy government positions the u.s is beyond screwed.
11,000 air traffic controllers being fired reduced inflation?
Tv watcher I can tell.
Tariffs are how we supported the FED for years
J Powell has to go.
Powell leave the people say no , shut down the fed
MERRY CHRISTMAS TO YOU ALL ❤ 🎄 🎊 ☃️ ❄ 🎂, GOD BLESS YOU ALL AND YOUR FAMILIES 👨👩👦🧡🤍
The head of the Fed needs to resign
If the Fed is overstaffed, send some of them to Fedex. Because they are grossly understaffed and can't even make deliveries.
Elon is probably one of the TEN KINGS, spoken of in scripture. And if your wise you will research it, those of you who will be left.
Elon is an interesting man ❤
HOPE AMERICA DOESN'T SELL THEIR HEART AND SOUL TO MUSK. TIME WILL TELL OF THE REGRETFUL CONSEQUENCES.
Job cutting is overly counter productive as the whole job for governmentsl is to create jobs
But they are creating more red tape and inefficiencies instead and burdening the public. The cost of having them exceed the benefits. 😊
Nama a single good or product the government produces ;)
There needs to be a limit, at least stipulations, for welfare. Employment should be mandatory.
I’ve said for decades that the private sector can do it better and cheaper then any government agency could
I am sorry to tell you, but you have been wrong for decades.
@ you must be a government employee or a recipient of a paycheck from a government agency
Fed needs to go he does nothing for citizens at all.....
You probably should stay off the internet.
Government employs 3.0 million people, which is equal to 1.7% of the entire US workforce. Department of the Defense type jobs comprises of 1.1 million. In addition, the US Government is also one of the largest employers of Veterans at about 600,000 employees. You know they will not touch those jobs which totals 1.7 million. So now, DOGE is going to focus on the remaining, which is just 1.3 million jobs spread among all the remaining agencies. The vast majority of agencies are understaffed. Go walk into a Social Security office or IRS and ask for help. Fox and the followers are all buying this BS. There is no world that you can reduce the deficit with out reducing military. Instead of targeting employees, I have a better idea for Musk, reduce the corporate welfare and federal contracts. You know Musk won't do that. But hey, don't let facts and logic get in the way of an angry mob.
You can fire 25% of federal employees and save a whopping 3% of the deficit.
Every year ? If that so, that's not bad no ?
What would laying off 95 percent save us?
So 3% of 7 trillion? Hell yeah
The people have known it all along now we just needs someone with the guts (balls) to do it. The problem is not income, it's waste and the feds are the master of waste.
Indiscriminate firings is Elons sport. He and Trump enjoy that devistating look when they crush the' help'. Literally giddy about it.
Can’t print our way out huh? 😢
The solution is to help the government to do a productive work. The government companies and private companies will compete, and we may have abundance of products, at low price, which is good for competition with China. I have 15 advanced inventions which may be manufactured by both companies. We have to create also a "Friendly Union", which will compete with Traditional Union for companies' attraction, and companies are free to choose one or another for their workers.
He is correct with overstaffing and no one doing the work.
Musk is right the FED staff should be 0.
I just want a job.
;let's hope Musk does to the government what he did to twitter...reduce the staff by 90%
They are also trying to reduce us
A US Stamp is going to cost us $1 Dollar in 2025…
If it ends up being privatized it’ll cost a lot more than that. The US post office is okay with running at a loss every year, a company with shareholders is not.
And don’t forget the great customer service when you’re trying to ship your package.
Worth it .
67yo from Australia...>>>... Aussie stamp = $1.50, but it sounds like the service is better.
Stamp collectors most affected.
Elon’s criticism is justified and cuts are needed at Fed. ✨
Powell ca tcount coins
Money USA save will not benefit average American. It will be reinvested in this guy’s space business and it will make him the first trillionaire of the world.
Suggest taking a break from the View and CNN and maybe crack a book… am sure economics 101 will help clear up the misinformation gap.
So math says people spend their tax money on buying products from biz. So yes producing a buisness with goods and services is a good idea
@@xadystcraig2450 sorry that your academic delusions don’t apply in this corrupted world.
Elon, you already know. A labor review needs to happen with a 40 hour work week mandate to each evaluated position, at the least, wrong person with a separate job description!
I don no, I felt alot better when we were kept in the dark and lied to.
The Federal Reserve is a private bank, it's no more Federal than Federal Express.
So if the government saves all that money, it goes directly to my pocket. Sure
No, it won't go into your pocket or mine, BUT we desperately need to reduce the deficit and soon
@mriccardi825 so if the deficit turns to $0.00, would I start to receive any of the "profits"? Or would another country be paid in full instead
Realistically, I'd like to see savings go into restocking Social Security, maybe for the first years savings alone. Savings for savings sake is one thing, but we have holes that need filling and that savings ought to go there because those holes are necessities.
It should go in to our pockets because our taxes paid their wages in the first place. I demand a refund.
@@BlueAvians it should, doesn't mean it will
Audit the FED. Also, Powell needs to go.
😅 yes replace Jerome Powell's job with AI because he repeats the same words like a parrot every meeting😅
that's what musk wants, less cops looking at him
Every product made in the USA is taxed on multiple levels by our government. There's the corporate tax, the income tax on the workers that build it, property tax on the real estate where it is made, and sales tax. Products that come from out of the country are only subject to sales tax though they pay tax in whatever country they're in. It is common practice (esp. China) to make industries tax-exempt when the country wants to gain dominant market share in an industry.
Everyone crying about tariffs needs to realize that US made products are disadvantaged by our own tax system! Tariffs are a way of taxing foreign made goods. No tax (including tariffs) are good, but as long as we have a domestic corporate tax, we should put a tariff on foreign made goods.
The job of the FED is to control the money supply, NOT the economy. The President controls the economy. The FED should not carry on about tariffs, or unemployment. Jerome Powell should stay in his own lane. Trump has got to replace him.
I suspect that Enron will do to the Federal Reserve what he does at Tesla. People will arrive at work after Christmas and find that they have been fired.
good those people are not our friends
I'll drink to that.
The FED manipulates markets.
That's where most of the jobs went.....was government.
Read “End the Fed” by Ron Paul
"Once again..." No more needed
The issue isnt that there are so many jobs its the fact alot of these jobs are 6 figure jobs. This is just the same scenario as laying off half the staff so the ceo can keep their pay. I really wish people would learn the way of the world for once. You are gonna basically put so many people out of a job and for what? Just cap off the pay for certain exec positions.
Anyone can take a look at USAjobs and see what the average GS12 positions pays for. Also look at the highest paid military member. All this while cutting normal grunts while keeping those insignificant people in power.
And all these federal employees get a life time pension FOR LIFE. I've seen these pensions. Up to $50 $60 $70 80, $90 thousand a year for teachers, principals etc. FOR LIFE. I get $12,000 a year from SS.
Way too over staffed. I would reduce and account for every penny
Why dont he tweet we should send the government jobs overseas to save money like the largest tesla factory on the planet.
Thirty-seven and a hafe billion saved already by NOT paying forty percent wage increases for government .❤😂
On day one, Trump promised more jobs and lower grocery prices. Affordable housing and healthcare .
I think this the only anchor on Fox afraid to say Merry Christmas! He might be not Christian or he is a little Woke.
Nationalise his businesses. And his wealth could be used to decrease the debt
THE STOCK MARKET IS NATURALLY IS GONNA TANK THANKS PRESIDENT MUSK
I wanted to hear Elon Musk not not these idiots.
Its not a joke
Republicans will soon get tired of Elon and Vivek.
They are unelected.
I do agree that the government needs to shrink quite a bit.
I think Trump will tire of them both as well.
Most people don't want artificial intelligence controlling everything Elon.