Elon Musk’s Plan to Balance the US Budget Explained

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  • เผยแพร่เมื่อ 21 ธ.ค. 2024

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  • @Menno_3
    @Menno_3 หลายเดือนก่อน +4108

    He's gonna change the USA's name to USX

    • @ComradeFrana
      @ComradeFrana หลายเดือนก่อน +315

      Pronounced 'You sucks'?

    • @kennethkho7165
      @kennethkho7165 หลายเดือนก่อน +120

      United States of Dollars, one dollar one vote, all dollars are created equal

    • @Trickaz94
      @Trickaz94 หลายเดือนก่อน +26

      ​@@ComradeFranathat would be accurate

    • @JSK010
      @JSK010 หลายเดือนก่อน +14

      Fun fact: that ticker already exists

    • @andrewdunbar828
      @andrewdunbar828 หลายเดือนก่อน +6

      That'll be the first step. There will be two more steps after that.

  • @DeanRTaylor
    @DeanRTaylor หลายเดือนก่อน +2721

    I remember the conservatives promising something similar in the UK. If they can genuinely cut waste and improve efficiency then sure it makes sense but with the conservatives they cut public services but somehow increased the deficit, debt overall and their own bank accounts.

    • @inbb510
      @inbb510 หลายเดือนก่อน +91

      There was never austerity in the UK.

    • @Fatspurios
      @Fatspurios หลายเดือนก่อน +12

      Lol.

    • @deeznuttes9340
      @deeznuttes9340 หลายเดือนก่อน

      @@inbb510 there isnt any in the US either tbh

    • @jod125
      @jod125 หลายเดือนก่อน +210

      ​@@inbb510Sure 🤪

    • @ayoCC
      @ayoCC หลายเดือนก่อน +48

      Cutting costs without cutting services is the key

  • @aiatgamer375
    @aiatgamer375 หลายเดือนก่อน +1493

    This is the main issue, whenever there are economic problems, people vote for someone who promises quick and easy solution. In reality, it wont be quick, nor easy. And that is if everything works perfectly and the guy in charge is not a clown.

    • @Johnlanzer
      @Johnlanzer หลายเดือนก่อน +79

      As oppose to voting people who are making the present problem worse while still under their own administration.

    • @exoaable
      @exoaable หลายเดือนก่อน +16

      how did democrats make their wealth? vs how did trump's team?
      ez choice

    • @jildert.
      @jildert. หลายเดือนก่อน +45

      Lol, a "small loan of a million dollar" vs. "Democrats" which ones?

    • @sam43532
      @sam43532 หลายเดือนก่อน +90

      @@Johnlanzer how did democrats make it worse? lmao

    • @exoaable
      @exoaable หลายเดือนก่อน +5

      @@jildert. easy. that small loan of 1 mil turned to 0 and then to billions many times.

  • @tc2241
    @tc2241 หลายเดือนก่อน +1285

    The guy who’s companies heavily rely on government subsidies, being in charge of said subsidies…brilliant

    • @dracodrake45
      @dracodrake45 หลายเดือนก่อน +25

      Its called being smart.

    • @Yantrus
      @Yantrus หลายเดือนก่อน +209

      @@dracodrake45its a smart thing to do for his own wallet

    • @Sas-ym4gg
      @Sas-ym4gg หลายเดือนก่อน +238

      @@dracodrake45it’s called a conflict of interest. You really love to get played don’t you?
      I’ve got a bridge to sell you if you’re interested in? Think of all the money you could make setting up a toll on it

    • @Voxet1
      @Voxet1 หลายเดือนก่อน +75

      ​@@dracodrake45God, your such a tool

    • @Robinson-k8u
      @Robinson-k8u หลายเดือนก่อน

      @@dracodrake45 Elon Musk currently has multiple investigations with a plethora of government agencies due to his companies Space X, Tesla etc. In which he has obtained billions of dollars in contracts and now he is about to preside over those very agencies that are suing him? Image you suing the ceo of a car company because he knowingly put in a faulty part and they have to bring in an outside committee to investigate but turns out the ceo is on that committee to lol God help us all.

  • @HectorWhitney
    @HectorWhitney หลายเดือนก่อน +1171

    Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions.

    • @JohnSmith060
      @JohnSmith060 หลายเดือนก่อน +3

      Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.

    • @IamJonny-o4v
      @IamJonny-o4v หลายเดือนก่อน +3

      Having an investment advisor is currently the best way to approach the stock market. I was going alone, but it wasn't working. I've been working with an advisor for a while now, and last year, I achieved over 85% capital growth minus dividends

    • @Hectorkante
      @Hectorkante หลายเดือนก่อน +3

      This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

    • @IamJonny-o4v
      @IamJonny-o4v หลายเดือนก่อน +3

      Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Melissa Terri Swayne for about 4 years now, and her performance has been consistently impressive.

    • @ChristianKelv
      @ChristianKelv หลายเดือนก่อน +3

      I just googled her name and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.

  • @Wislehorn
    @Wislehorn หลายเดือนก่อน +2525

    Actual meme economy

    • @DillardAlpaugh
      @DillardAlpaugh หลายเดือนก่อน +8

      Why?

    • @darthkek1953
      @darthkek1953 หลายเดือนก่อน +55

      The last few decades have been farcical, at least memesters are self-aware.

    • @Trickaz94
      @Trickaz94 หลายเดือนก่อน

      @@DillardAlpaugh because murica is a joke

    • @ObaBaller
      @ObaBaller หลายเดือนก่อน +29

      like how a presidential candidate went on a podcast that trademarked "choke me daddy" 😂

    • @Trickaz94
      @Trickaz94 หลายเดือนก่อน

      @@DillardAlpaugh because murica is a joke

  • @speedy01247
    @speedy01247 หลายเดือนก่อน +776

    The correct way of improving "efficiency" is to cut profit margins on contracts with the government, this means less money spent bloating the pockets of corporations. Why do I think this won't be the case.

    • @romanplays1
      @romanplays1 หลายเดือนก่อน +16

      Tbh. SpaceX and tesla wont really be affected too much so elon wouldnt care.

    • @makiiavely
      @makiiavely หลายเดือนก่อน

      @@romanplays1 but he is affected, musk has a ton of federal contracts with the government such as building a spy satellite network for the military, leading a "department" like that is the perfect way to shoehorn in his other businesses, like Twitter. His new doge department will reportedly only take job applications through Twitter DMs, meaning you have to go through his website, where your personal and political views are very easy to check, in order to work for the government, meaning him. That's cronyism and corruption no matter how you slice it. There's no reason to believe he'll try to stop corporations from pocketing even more money from the public. Given his track record, the most likely outcome is that he'll start firing people like crazy which might seem like it'll save money in the short term but firing qualified, experienced and useful workers is just a recipe for losing even more money, as evidenced by how twitter has tanked in company value since musk took over

    • @jimwing.2178
      @jimwing.2178 หลายเดือนก่อน +39

      @@romanplays1 If by writing 'tbh' you mean 'to be honest', then why are you commenting about Trump, Musk, and the rest of the Republican Party? They and honesty are mutually exclusive by design.

    • @2goober4u
      @2goober4u หลายเดือนก่อน

      ​@@jimwing.2178 🤓

    • @UGMD
      @UGMD หลายเดือนก่อน

      @@romanplays1Space X and Tesla have had billions of dollars of contracts and subsidies. Musk is a shill

  • @TilSchweiger-i3f
    @TilSchweiger-i3f หลายเดือนก่อน +1558

    Small taxes can affect investment decisions such as whether to choose tax-free municipal bonds over taxable bonds or do a Roth IRA conversion. I’ve been sitting on over $745K equity from a home sale and I want to invest on the stock market, how do I achieve this without being taxed twice?

    • @Justinfred11
      @Justinfred11 หลายเดือนก่อน

      There’s more benefit to holding fixed-income assets in tax-deferred retirement accounts as opposed to taxable accounts. If you're not who understands strategies to invest in the market, seek a Financial advisor to guide you.

    • @Benjaminarmstrong684
      @Benjaminarmstrong684 หลายเดือนก่อน

      Indeed, I did make use of a financial counselor. As I get closer to retirement, their advice has been really helpful. I thought compound interest on index funds wouldn't be sufficient because I started late. It's amusing how I've done better than colleagues who have more years of investment experience. I've profited more than $886k tax free.

    • @TilSchweiger-i3f
      @TilSchweiger-i3f หลายเดือนก่อน

      this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

    • @Benjaminarmstrong684
      @Benjaminarmstrong684 หลายเดือนก่อน

      GREGORY LEO CATTEL is the licensed FA I work with, I can't speak much about him you should make a search with his name, you'd find the necessary details to schedule an appointment.

    • @TilSchweiger-i3f
      @TilSchweiger-i3f หลายเดือนก่อน

      he appears to be well-educated and well-read. I ran a Google search for his name and came across his website; thank you for sharing.

  • @immedekker2504
    @immedekker2504 หลายเดือนก่อน +850

    Having 2 leaders to run this department seems quite... inefficient.

    • @eleghari
      @eleghari หลายเดือนก่อน +95

      Whosoever fires the other one first wins and can claim cutting departmental expenses in half 😂

    • @SCYN0
      @SCYN0 หลายเดือนก่อน +39

      tbh no one wants musk at the top of any GOV department alone

    • @smilly456
      @smilly456 หลายเดือนก่อน +20

      @@SCYN0 considering his business track record I strongly agree

    • @Tarrimaster
      @Tarrimaster หลายเดือนก่อน +17

      I don't think either of them will be taking a salary..

    • @lexcitly
      @lexcitly หลายเดือนก่อน +25

      @@smilly456 if you're talking about X's drop in revenue, that's not due to X being inefficient, it's due to advertisers boycotting X. No one is going to boycott the government.

  • @shroomer8294
    @shroomer8294 หลายเดือนก่อน +124

    "turns out we needed that" is gonna be a key phrase with this one

    • @bobhope4288
      @bobhope4288 หลายเดือนก่อน +17

      Like when Trump fired entire pandemic response team in 2018, and then COVID happened?

    • @jotfohm4644
      @jotfohm4644 หลายเดือนก่อน

      Thank you!​@@bobhope4288

    • @smirkyshadow4152
      @smirkyshadow4152 หลายเดือนก่อน +10

      @@bobhope4288 Or when elon fired and then rehired the entire twitter IT department?

    • @longiusaescius2537
      @longiusaescius2537 หลายเดือนก่อน +1

      @smirkyshadow4152 he fired Feds and kept them out though???

    • @bobhope4288
      @bobhope4288 หลายเดือนก่อน

      @@longiusaescius2537 The Global Health Security and Biodefense unit, responsible for pandemic preparedness under the National Security Council (NSC) was a forum of White House personnel that advises the president.
      In May 2018, that team was disbanded and its head Timothy Ziemer, top White House official in the NSC for leading U.S. response against a pandemic, left the Trump administration.

  • @molt45
    @molt45 หลายเดือนก่อน +888

    Considering all his companies rely heavily on subsidies in order to stay afloat, I doubt he's the best guy to make the government more profitable.

    • @karankapoor2701
      @karankapoor2701 หลายเดือนก่อน +47

      Ig a guy who's being contracted by NASA to send rockets to space is not aware of what he's talking about.....

    • @Nononomoke
      @Nononomoke หลายเดือนก่อน +225

      @@karankapoor2701 Being contracted by NASA makes him know how to reduce government spending and balance the budget without negatively affecting the country? That's some fine logic

    • @janpiorko3809
      @janpiorko3809 หลายเดือนก่อน +157

      @@karankapoor2701 his people send rockets to space. he himself doesn't know jack shit. Also that apples to oranges comparison anyway. Just because you own spaceX doesn't mean you know how to balance the budget of an entire country.

    • @IvanHavid
      @IvanHavid หลายเดือนก่อน

      ​@@karankapoor2701felon

    • @ThePhiphler
      @ThePhiphler หลายเดือนก่อน +3

      Hes already trying to cut the Carbon credits.

  • @yusaki8064
    @yusaki8064 หลายเดือนก่อน +1386

    Oligarchy Speedrun

    • @MkEpicness
      @MkEpicness หลายเดือนก่อน +12

      And it's great

    • @dansands8140
      @dansands8140 หลายเดือนก่อน +26

      Oligarchy by people with three digit IQs is great actually

    • @pottingsoil
      @pottingsoil หลายเดือนก่อน +212

      ​@MkEpicness you're greatest dream is to be a peasant. It's remarkable.

    • @Global-yt
      @Global-yt หลายเดือนก่อน +3

      @@pottingsoil I would choose to be a peasant if it meant certain... people didn't have a say in how to run the entire country

    • @HildeTheOkayish
      @HildeTheOkayish หลายเดือนก่อน +102

      @@dansands8140 and what if those people don't want the best for you? what if they want to use you as a way to extract more profit and power for themselves? oligarchy gives power to people who can take it. those people are usually not the people you would want in charge

  • @guss77
    @guss77 หลายเดือนก่อน +533

    It may be worth noting that cutting $2T a year from government spending will immediately decrease GDP by 10%.

    • @speedy01247
      @speedy01247 หลายเดือนก่อน +9

      Isn't that less then 10% GDP? (The 2 trillion)

    • @darthkek1953
      @darthkek1953 หลายเดือนก่อน +1

      That assumes government workers are so useless they couldn't find private sector employment or start businesses.
      Wait a minute...

    • @guss77
      @guss77 หลายเดือนก่อน

      @@speedy01247 according to my calculations it's about that (slightly less, I rounded up).

    • @JSK010
      @JSK010 หลายเดือนก่อน +48

      only if taxes stay the same, which they wont

    • @chaoticdanor
      @chaoticdanor หลายเดือนก่อน +94

      It depends, they might make cuts to military spending because that industry is well known to be wasteful of tax payer dollars. For example a 5$ part from a DIY store, sold by the industrial military complex is 1000+$. It is the exact same part but the US gov is being overcharged and since military spending is being kept as secret as possible, there is almost no oversight. They also lobby politicians massively to continue overcharging, that's what i would fix first if i was Musk.

  • @annemoore4461
    @annemoore4461 หลายเดือนก่อน +796

    I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years n another country. We are absolutely worried that SS! will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific Investment account with Stephanie Janis Stiefel my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.

    • @MoslemBaygul
      @MoslemBaygul หลายเดือนก่อน

      I know this lady you just mentioned. Stephanie Janis Stiefel is a portfolio manager and investment advisor. She gained recognition as an employee of neuberger berman; a renowned investor she is. Stephanie Janis Stiefel has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.

    • @JessieeAlmar
      @JessieeAlmar หลายเดือนก่อน

      I’m planning on moving to Thailand in the next 5 years if trump’s government doesn’t do anything with the high prices of groceries and taxes
      What about you??

    • @emmabeyza6036
      @emmabeyza6036 หลายเดือนก่อน

      Been debt free for two years thanks to Stephanie Janis Stiefel. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.

    • @MafArdoleda
      @MafArdoleda หลายเดือนก่อน

      Please stop gentrifying countries

    • @MafArdoleda
      @MafArdoleda หลายเดือนก่อน

      How can i reach Stephanie if you don't mind me asking?
      Heard she’s an IA.

  • @Deano_MOOD
    @Deano_MOOD หลายเดือนก่อน +84

    I feel like we're living in a South Park episode rn

    • @PerfectlyFunctioningAI
      @PerfectlyFunctioningAI หลายเดือนก่อน +6

      the moment Trump won back in 2016 we became southpark. Even the real southpark gets alot of heat because its not funny anymore, BECAUSE WE ARE THE STUPID TOWNSFOLK

    • @downtostandup
      @downtostandup หลายเดือนก่อน +2

      ​@@PerfectlyFunctioningAI maybe start charging rent, cuz Trumps living free in your head

    • @SIGMA.UNIVERSE
      @SIGMA.UNIVERSE หลายเดือนก่อน +2

      You got it the wrong way round, south park episodes are based on reality

    • @hypotheticalaxolotl
      @hypotheticalaxolotl หลายเดือนก่อน

      @@downtostandup It's almost, almost, like the guy is, perhaps, the 45th and 47th president. Almost.
      Nah, it couldn't be that he's held and will hold an important position governing 300 million peoples lives. Clearly people concerned about him are just obsessed.

    • @hifijohn
      @hifijohn หลายเดือนก่อน +1

      @@PerfectlyFunctioningAI When fiction turns into a documentary.

  • @kristoffersonaribal1573
    @kristoffersonaribal1573 หลายเดือนก่อน +352

    The inevitable break-up of Trump and Elon is going to be sweet! Need to stock up on popcorn

    • @SubjectiveFunny
      @SubjectiveFunny หลายเดือนก่อน +19

      Hahaha..
      Knowing how angry you are at Trump being president makes us SO happy!
      Its literal pleasure for us, I want to cry I am so happy.
      Please, complain more, I need it!!

    • @tomizatko3138
      @tomizatko3138 หลายเดือนก่อน +107

      @@SubjectiveFunnyHe is not complaining, he is just blessing you and has faith that you get everything you and your party wanted from this presidency.😊

    • @SubjectiveFunny
      @SubjectiveFunny หลายเดือนก่อน +8

      @@tomizatko3138 I already have!
      I hope you enjoy the next 4 years, just remember it will probably be 12 years too!

    • @MrRavmoor
      @MrRavmoor หลายเดือนก่อน +84

      @@SubjectiveFunny Damn. I have no horse in this race, but you seem pretty spiteful and miserable if this is how you act :/

    • @SubjectiveFunny
      @SubjectiveFunny หลายเดือนก่อน +9

      @@MrRavmoor Yeah, thats what you get when you spend 4 years calling people racist bigots.
      We are not friends, I have no sympathy, I fucking love it.
      Time to sit back and enjoy :D

  • @mortyjames5897
    @mortyjames5897 หลายเดือนก่อน +1123

    Hilarious that the 'department of government efficiency' will have TWO bosses, Elon and Vivek Ramaswamy.

    • @Pete_Piper
      @Pete_Piper หลายเดือนก่อน +95

      If it gets twice as much done then that would be efficient.

    • @HandiasTobil
      @HandiasTobil หลายเดือนก่อน +121

      two for free. a deal can't get better than free (they're working for no pay)

    • @christopherg2347
      @christopherg2347 หลายเดือนก่อน +34

      ​@@Pete_PiperTwice as much destruction or bickering?

    • @rushanewilson8487
      @rushanewilson8487 หลายเดือนก่อน +40

      They aren't being paid so that's already a leg up

    • @jameshenry6855
      @jameshenry6855 หลายเดือนก่อน +18

      ​@@Pete_Piper twice as much done wouldn't make it efficient. It would be as expected. It would need more than twice to be efficient.

  • @julianshepherd2038
    @julianshepherd2038 หลายเดือนก่อน +396

    A few years ago Tesla was hated for being green and woke.

    • @ArawnOfAnnwn
      @ArawnOfAnnwn หลายเดือนก่อน

      It was green, not woke. And it wasn't hated. The only green stuff that gets hate are policies that meddle with the economy, not someone making an electric car to compete in said economy.

    • @joshuakei8925
      @joshuakei8925 หลายเดือนก่อน +1

      From one perspective, it could be argued that if only Elon's first son didn't decide be trans, Elon would have stayed on the side of the democrats. It is implied he said the 'woke mind virus' killed his son, and he was taking revenge.
      So technically speaking, by deciding to be trans, Musk's first child cost the democrats the election.
      And before you argue that you don't get to choose to be trans, I'd argue lots of people have gender dysphoria and don't act on it, so Elon's child could have recognized the risks and not acted on it.
      Yes I'm aware this is all conspiracy, but I think it makes sense.

    • @mihangelap-williams9871
      @mihangelap-williams9871 หลายเดือนก่อน +92

      Then he went right to avoid bankruptcy because battery tech is expensive and subsidiaries had expire date

    • @casualobserver2000
      @casualobserver2000 หลายเดือนก่อน

      First he got his green subsidies from the left, now he wants his tax cuts from the right. To say Musk is a true believer is rather dubious.

    • @SubjectiveFunny
      @SubjectiveFunny หลายเดือนก่อน

      @@mihangelap-williams9871 And provided the entire planet with wireless internet, created the first reusable space rockets, caught said rocket in mid-air, installed microchips into a paraplegic man to control computers with his mind, created fully autonomous and self-driving cars, purchased a social media company which is now the ONLY social media application where freedom of speech exists, and was instrumental in getting the greatest American president elected to save the country and planet from war and poverty..
      What a monster...
      I used to get angry when libs would talk smack, now I realize you people have literally nothing else.
      I feel sorry for you, I truly do.

  • @shack2800
    @shack2800 หลายเดือนก่อน +38

    A big problem we need to realize is that a billionaire openly bankrolled a president's campaign and is now essentially a cabinet member and chief advisor without any of the formalities that come with the job

    • @thejanssen6030
      @thejanssen6030 หลายเดือนก่อน +5

      What "formalities" normally come with appointing cabinet members? None. Presidential advisors having previously contributed to the campaign wasn't a problem until now because...? It wasn't for Biden. It isn't for Trump. Calm down lil fella. The sky isn't falling.

    • @shack2800
      @shack2800 หลายเดือนก่อน

      Let me know when one of bidens donors gets there own government department and sit in on calls with foreign leaders

    • @Cherry-pu4mx
      @Cherry-pu4mx หลายเดือนก่อน

      Honestly have no idea why it's called the department of government efficiency. It's not a department of government and is misleading at best. It's an own sepperate thing and should be seen rather as an advisory 3rd party to government spending.

    • @Cherry-pu4mx
      @Cherry-pu4mx หลายเดือนก่อน +2

      What I don't understand is why doesn't trump just do this review with an actual accounting firm. Governments across the world already actively have their budgets open for comment and from time to time allowed private audits of their systems like public healthcare

    • @thejanssen6030
      @thejanssen6030 หลายเดือนก่อน

      @Cherry-pu4mx for the same reason that no President has or will. This is much more than just an audit and a system, and there is way too much nonsense that nobody wants to make available

  • @kdeas10
    @kdeas10 หลายเดือนก่อน +33

    time for the old song of dance of government wants to save money by gutting social services and then acting surprised when it makes the problem 10x worse.

    • @Aubrey2004-j4k
      @Aubrey2004-j4k หลายเดือนก่อน +2

      😂😂😂exactly

  • @Larsino2000
    @Larsino2000 หลายเดือนก่อน +417

    Sounds like unemployment rate in the US is going to the moon with doge.

    • @Jacky5299
      @Jacky5299 หลายเดือนก่อน +22

      That's pretty short sighted. Cutting a lot of red tape would increase opportunities and growth.

    • @Larsino2000
      @Larsino2000 หลายเดือนก่อน

      @@Jacky5299 I'm sure the new minister of health, who doesn't believe in vaccines or viruses or the new minister of justice who has no experience in justice and had sex with a minor might count as red tape.

    • @theblackgods4699
      @theblackgods4699 หลายเดือนก่อน +67

      ​@@Jacky5299 is it ? Can you explain how ?

    • @Jacky5299
      @Jacky5299 หลายเดือนก่อน

      @@theblackgods4699 expenses it's self, red tape!!

    • @dannydxm
      @dannydxm หลายเดือนก่อน +19

      All those people can find actually productive jobs instead of pushing paper in some cushy government job that doesn't do anything of real worth.

  • @RegaDega
    @RegaDega หลายเดือนก่อน +338

    This is actually super redundant. The US already has a department for government efficiency: the Government Accountability Office (GAO)

    • @DanGamMan
      @DanGamMan หลายเดือนก่อน +116

      At 120% of GDP for a deficit, idk if that's working lol

    • @Americanpride555
      @Americanpride555 หลายเดือนก่อน +89

      They suck at their job then.

    • @joelimbergamo639
      @joelimbergamo639 หลายเดือนก่อน

      ​@@DanGamManthey are, but no one listens to them. Even Trump ignored them when they said cutting taxes would increase deficit and inflation. 4y later, we had the largest deficit since ww2 and 10% inflation. Paying even more people with a new name doesnt solve the problem

    • @Ratgibbon
      @Ratgibbon หลายเดือนก่อน +58

      Yeah, but their acronym isn't DOGE. I rest my case.

    • @GizmoMaltese
      @GizmoMaltese หลายเดือนก่อน +11

      I was thinking the same thing. And we also have a balanced budget amendment but they keep voting to raise the debt ceiling. But somehow Musk is going to figure out how to reduce spending when every year they have never been able to do this and always resort to increasing the debt limit.

  • @niefali
    @niefali หลายเดือนก่อน +366

    At this point who knows, maybe Trump just declares the debt gone and be done with it. Not paying his debt is kind of his thing.

    • @blueboy3990
      @blueboy3990 หลายเดือนก่อน +55

      This will crash the economy overnight lol

    • @zenkoz3158
      @zenkoz3158 หลายเดือนก่อน +98

      ​@@blueboy3990 sounds on brand

    • @Trickaz94
      @Trickaz94 หลายเดือนก่อน +15

      @@blueboy3990 that would be funny to watch, I say let's do it

    • @eddapultstab2078
      @eddapultstab2078 หลายเดือนก่อน +20

      ​@@zenkoz3158 I hate to say it, but you're right.

    • @LegDayLas
      @LegDayLas หลายเดือนก่อน +11

      Calling it now, this will no longer be satire within 4 years. th-cam.com/video/TRgRz3nSG7o/w-d-xo.html

  • @fl00fydragon
    @fl00fydragon หลายเดือนก่อน +27

    The US looked at the UK's and Argentina's economic self destruction and went "I will not be outdone"

  • @champstation143
    @champstation143 หลายเดือนก่อน +12

    As a european I can say that the G7 comparisons (especially when it comes to government expenditure) are really problematic. The top 3 there are all known for their excessive tax rates, government inefficiency and even plain old school corruption at some points. So I think that these 3 are prime examples of overregulation resulting in dissatisfaction with the government, as we can see from recent news.

  • @RafaelW8
    @RafaelW8 หลายเดือนก่อน +147

    Man, the new Trump presidency is gonna be a wild ride. Can't wait for the tweets.

    • @jps0117
      @jps0117 หลายเดือนก่อน +8

      I won't see them. I'm checking out for awhile.

    • @KamBar2020
      @KamBar2020 หลายเดือนก่อน +2

      Make TESLA Great Again 🤯

    • @NintendoBoy64
      @NintendoBoy64 หลายเดือนก่อน +1

      They won't be called that anymore, but X posts

    • @martin2289
      @martin2289 หลายเดือนก่อน

      Brace for impact when the economy crashes, which it's going to.

    • @hifijohn
      @hifijohn หลายเดือนก่อน

      Quite the crap storm.

  • @brandonstephens2644
    @brandonstephens2644 หลายเดือนก่อน +152

    I still find it absolutely ironic there's two people in charge when there could easily just be one of them

    • @Pete_Piper
      @Pete_Piper หลายเดือนก่อน +10

      And your experience it government is what?

    • @joshuacampbell1625
      @joshuacampbell1625 หลายเดือนก่อน +72

      ​@@Pete_Piper about as much as musk and vivek.

    • @GermanPotato-r4j
      @GermanPotato-r4j หลายเดือนก่อน +5

      tbf, it seems that Musk will handle the business oriented part while Vivek will care about the political side. Calling it experimental would be flattering, but it does seem like an interesting idea at least.

    • @darthkek1953
      @darthkek1953 หลายเดือนก่อน +3

      Big task, and neither are being paid.

    • @spacefun101
      @spacefun101 หลายเดือนก่อน +5

      One of the biggest complaints before the announcement was that Musk had too much power given his conflicts of interests, but now that he has Ramaswamy to check him, the biggest complaint is that two people are less efficient than one. So does Musk have too much or not enough power? Two people does not mean less efficient if both are still working their best. Like could you imagine if every business only had one employee to be “more efficient”? That is not how efficiency works.

  • @PeterHendricks59
    @PeterHendricks59 หลายเดือนก่อน +32

    I have seen this happen before, in NZ in the 80's. I have this vivid image of finance minister Roger Douglas saying on TV "There will be some pain." The pain was experienced chiefly by the vulnerable groups in society. The very necessary reforms were paid for by them, while the well-to-do profited.
    Some of the indigenous people seem to have thought "First, you stole our land and identity, now you take our jobs. Let's take something back." So a rather egalitarian society was split where, for example, the PM would holiday on the beach among the locals, without MIBs watching over them, to a country of disparity with rising crime and gated communities.

    • @patriayvida6850
      @patriayvida6850 หลายเดือนก่อน +5

      He accomplished his goal then. Everything these grifters come up with is meant to fleece the poor & fill their pockets, at whatever the cost.

    • @christianlibertarian5488
      @christianlibertarian5488 หลายเดือนก่อน +1

      Uh, not even close. NZ is one of the most bureaucratic, government hamstrung economies in the world. One guy 40 years ago did not create that.

  • @Bardwellthefirst
    @Bardwellthefirst หลายเดือนก่อน +7

    I actually think balancing the budget is a worthy goal, but this is not the guy I'd trust to do it.

  • @llucos100
    @llucos100 หลายเดือนก่อน +8

    Let me guess, spend less on infrastructure and security, and more on electric car subsidies and big big rocket construction.

  • @fnunez
    @fnunez หลายเดือนก่อน +111

    If he does to the US economy what he did to twitter, we're all going to be tightening our belts soon.

    • @Notsogoodguitarguy
      @Notsogoodguitarguy หลายเดือนก่อน +7

      To be fair, for the US, that might be a boon. xD 70+% overweight and 40+% obesity rate is absolutely wild. xD Will save a lot on healthcare costs xD

    • @ersankuneri4815
      @ersankuneri4815 หลายเดือนก่อน +4

      Twitter is getting more popular in emerging markets. Just look Nigeria, South Africa, Thailand, Indonesia. Twitter is bigger than ever.

    • @PauloGoncalves2002
      @PauloGoncalves2002 หลายเดือนก่อน +6

      What the hell are u talking about, Twitter is better than never
      Can u tell one thing that has gone bad on X except for the brand Change?

    • @okultusrexus3660
      @okultusrexus3660 หลายเดือนก่อน +24

      @@PauloGoncalves2002 Better how? Lost 1 million users last week alone, advertisers are reacting negatively to the toxic environment. Twitter is not doing well in US.

    • @PauloGoncalves2002
      @PauloGoncalves2002 หลายเดือนก่อน

      @@okultusrexus3660 how many did it won since it was bought? Also using the ads leaving as an argument just show u have no idea about the left circlejerk cabal

  • @ibxjackcat2565
    @ibxjackcat2565 หลายเดือนก่อน +70

    The biggest problem with government budgets is that they over pay for nearly everything they by which adds to the budget massively so you need to find a way of reducing what you spend on each item that way u can cut the budget without actually losing anything

    • @chaoticdanor
      @chaoticdanor หลายเดือนก่อน +1

      Exactly!

    • @lemoncrime2880
      @lemoncrime2880 หลายเดือนก่อน +6

      I'm no expert on this but we probably over pay in the defence sector because because there are regulations against bringing industrial processes for military equipment overseas to countries like China...for obvious reasons. Which circles back to why tariffs and isolationism are a bad idea.
      Also the implementation of UHC is estimated to save the US 2 trillion dollars every decade since better prices can be negotiated with the drug companies, and, you know, tens of thousands of Americans won't die each year because they can't afford the costs.
      And implementing UHC doesn't mean no more private healthcare. Plenty of countries have both.

    • @robertp457
      @robertp457 หลายเดือนก่อน +1

      They government is paying companies more than necessary so the companies can make bigger profits, they don't pass these profits down to their employees. That's where the waste is. Massive profits for the top 10 people in the company and a couple of dollars for the worker bees.

    • @ConnorDRyan
      @ConnorDRyan หลายเดือนก่อน +1

      Most of these government contracts are no bid contracts so there’s no competition over price. They end up paying a shit ton of money to their constituents from corporations. The whole system is whack.

    • @davidawakim5473
      @davidawakim5473 หลายเดือนก่อน

      Almost like those government budgets pay... people.... for work. Every dollar spent is a dollar earned. A bigger problem is that money pools up at the top of multi-billionaires and never gets re-run through the economy.

  • @joshkorte9020
    @joshkorte9020 หลายเดือนก่อน +309

    The economy is fucked. Stock up on Euros and bottle caps.

    • @wanrazul
      @wanrazul หลายเดือนก่อน +24

      Like during the 1st trump admin? Look at the Dow during the period.
      Edit: 👇forgot the lockdowns

    • @elphive42
      @elphive42 หลายเดือนก่อน +93

      Anyone who says “look at the last time” ignores the fact that he both lead the U.S. into a recession near the end of his first term and had a competent bureaucratic administration supporting him in the beginning.
      Trump actively wants to remove that existing administration, and economists say his current plans will decrease the GDP by 7% while also substantially increasing the national debt.

    • @Jack-e5t
      @Jack-e5t หลายเดือนก่อน +44

      @@wanrazullmao you think this is going to be like term 1? 🤣

    • @yofedstyhrega4594
      @yofedstyhrega4594 หลายเดือนก่อน +47

      ​@@wanrazul ironically enough corona saved trump because there was something to blame.

    • @traviswebb3532
      @traviswebb3532 หลายเดือนก่อน +22

      ​@@wanrazul aww that's cute you think the dow means anything to the majority of the world.

  • @Cancoillotteman
    @Cancoillotteman หลายเดือนก่อน +39

    Funny how rich people always support less regulations...

    • @ecnalms851
      @ecnalms851 หลายเดือนก่อน

      Not just rich people. Republicans got voted in by like 51%

    • @robertp457
      @robertp457 หลายเดือนก่อน +4

      Of course for them and their companies.

    • @martin2289
      @martin2289 หลายเดือนก่อน +5

      That's actually a myth. They LOVE regulations - when they can be used to unfairly restrict competition and erect barriers to entry, etc.

    • @Cancoillotteman
      @Cancoillotteman หลายเดือนก่อน +4

      @@martin2289 Of course, regulations on OTHERS, those they do love !

    • @alexmarsch1877
      @alexmarsch1877 หลายเดือนก่อน

      racist

  • @andself
    @andself 27 วันที่ผ่านมา

    The idea that anyone would be against fiscal responsibility is wild. I'm excited that it's finally being talked about.

  • @davianoinglesias5030
    @davianoinglesias5030 หลายเดือนก่อน +155

    Establishing an entirely new government department and appointing two people to head it is peak government efficiency😅

    • @peope789
      @peope789 หลายเดือนก่อน +13

      For free so there is that

    • @sajanpreetsingh9144
      @sajanpreetsingh9144 หลายเดือนก่อน

      @@peope789 this is why america has a fascist for president, why are you so naive??

    • @wompa70
      @wompa70 หลายเดือนก่อน +9

      @@peope789
      And it's not actually a department.

    • @blackwatertv7018
      @blackwatertv7018 หลายเดือนก่อน +1

      And that’s why it’s a meme not a serious thing. That’s the “joke”

    • @infini.tesimo
      @infini.tesimo หลายเดือนก่อน

      You have to smart one. That's how the rules work in congress giving departments authority and purpose. A random department by itself cannot become this rather it is the other way around.

  • @xMasterAssassin93
    @xMasterAssassin93 หลายเดือนก่อน +87

    Because austerity will surely make most of the country happy...

    • @rushanewilson8487
      @rushanewilson8487 หลายเดือนก่อน +7

      How do you suggest bringing the debt down? Kamala wanted to do an unrealized gains tax. What alternatives do you see? I'm genuinely intrigued.

    • @heyho4770
      @heyho4770 หลายเดือนก่อน +42

      ​@@rushanewilson8487The US has the highest amount of millionaires on the planet and some of the lowest corporate taxes in the western world. I'm sure there's some money to be found there

    • @rushanewilson8487
      @rushanewilson8487 หลายเดือนก่อน +17

      @@heyho4770 Eat the rich then?

    • @tliman1255
      @tliman1255 หลายเดือนก่อน +6

      @@rushanewilson8487rebalance what defines rich or absurdly wealthy might be a good start

    • @heyho4770
      @heyho4770 หลายเดือนก่อน +15

      @@rushanewilson8487 Paying a fair share would be preferable

  • @anonanon6596
    @anonanon6596 หลายเดือนก่อน +119

    Remember how he said that all the micro services were costing twitter too much money and then people could not log in because he disabled the two factor authentication micro service?

    • @TheGroovyBanana
      @TheGroovyBanana หลายเดือนก่อน +15

      That didn’t happen. Twitter limited SMS 2fa to only Twitter Blue users which did cause issues. You made up the rest.

    • @1370802
      @1370802 หลายเดือนก่อน +8

      I hate Musk, but I don’t remember that at all. I was logging in just fine. I’ve never even used a two-factor authentication system for Twitter. When did this happen?

    • @anonanon6596
      @anonanon6596 หลายเดือนก่อน

      @@1370802 That was two years ago, and only people who used 2fa could not log in. I remember tweets of people saying "if you have 2fa enabled do not log out"

    • @okultusrexus3660
      @okultusrexus3660 หลายเดือนก่อน +4

      Then he told advertisers to GFY so they left. Then he changed functionality of Twitter so now people are leaving to BSKY, 1 million last week alone. He really should just stick to the rockets..

    • @issoctz7000
      @issoctz7000 หลายเดือนก่อน +4

      too much reddit bro, it damages the brain

  • @JohnSalchichon2
    @JohnSalchichon2 หลายเดือนก่อน +2

    Saying that mileis politicies somewhat worked is a GIGANTIC understatement.

    • @amguardia
      @amguardia 20 วันที่ผ่านมา

      Depends what you call "working". You stop spending, your budget goes in the green, sure. That's the easy part. The hard part is that (get this) not all goverment spending is wasted money. So maybe by cutting the spending you're actually creating problems. Will these problems arise in Argentina ? Too soon to say. Now, even more importantly, is the US in a similar situation as Argentina ? No.

    • @JohnSalchichon2
      @JohnSalchichon2 20 วันที่ผ่านมา +1

      @@amguardia I did not mean to say that argentinas solution works on USA.
      Its long and difficult to explain why cutting government spending here in argentina is pritty much always the right choice, we dug ourselves a veeery peculiar hole, so I get that what you say makes sense, but it sound very weird to say that about argentina xd

  • @DanGamMan
    @DanGamMan หลายเดือนก่อน +4

    I absolutely DISAGREE with cutting defense spending. Ukraine and the threat of a Taiwan invasion is making things extremely concerning. At the same time I guess we could say we should stay out of their problems.

    • @daveray5655
      @daveray5655 หลายเดือนก่อน +1

      Part of the problem with defense spending is that the government will pay 1000s for something worth 6 dollars

    • @DanGamMan
      @DanGamMan หลายเดือนก่อน

      @@daveray5655 Yeah fuck those contractors

    • @robertp457
      @robertp457 หลายเดือนก่อน

      There is no way they wouldn't end up being our problem. A large amount of the electrics we buy are made in Taiwan. TSMC is there.

    • @robertp457
      @robertp457 หลายเดือนก่อน

      @@daveray5655 The government will pay a company...that's the difference. The government isn't paying the people who actually make the product. It's like the ACA instead of paying hospitals for healthcare we'll pay insurance companies who then pay hospitals. The company, insurance and government contracting, need to make a profit and the hospital that needs to get paid needs to make a profit.

  • @ClipssShort
    @ClipssShort หลายเดือนก่อน +25

    I just want competent people to rule the country

    • @sajanpreetsingh9144
      @sajanpreetsingh9144 หลายเดือนก่อน +22

      that's too much to ask apparently

    • @jakub7676
      @jakub7676 หลายเดือนก่อน +6

      Wow, chill out with those wishes.

    • @the_emigrant
      @the_emigrant หลายเดือนก่อน +7

      I hope you didn't vote for Trump in that case.

    • @ClipssShort
      @ClipssShort หลายเดือนก่อน +7

      @the_emigrant not even american tbh, but the same comment applies to my country, Turkey, too. Incompetent leaders ruining economy, infrastructure and what not because half of the population is either not informed or just stupid

    • @Samuel-wl4fw
      @Samuel-wl4fw หลายเดือนก่อน

      Thats why the incompetent budget team will finally be replaced by a automation and effeciency expert space x and tesla being an excellent proof of concept

  • @Osteichthyes
    @Osteichthyes หลายเดือนก่อน +61

    It's okay, I'm sure the concepts for a plan will fix everything. Definitely not also going to exasperated by reduce foreign trade with tariffs while cutting the cheap workforce with mass deportations. Going to be a hard few years for America, let's see if they actually learn the lesson about blind popularism.

    • @hilebard
      @hilebard หลายเดือนก่อน

      I don't get this rhetoric. Their economy thrived the first term

    • @williamd2989
      @williamd2989 หลายเดือนก่อน

      @@hilebard Because Trump wasn't able to do any of the insane bullshit he's promising. Apart from the trade war (which was pretty painful for a lot of people, "bUt LIne gO uP") and the tax cuts (which contributed to the deficit problems they now claim to be trying to solve), Trump made no changes to the economy he inherited from Obama.

    • @davidmays8974
      @davidmays8974 หลายเดือนก่อน +8

      @@hilebard
      Only if you think the first term consisted of the first two years.

    • @hilebard
      @hilebard หลายเดือนก่อน

      @@davidmays8974 first three, only the covid year was bad, and that was bad world wide

    • @bushuckwald
      @bushuckwald หลายเดือนก่อน

      @@hilebard presidencies are defined by crisis, covid and Trump stared each other down and Trump blinked. When the next inevitable crisis hits like one always does since recorded history, there's little doubt Trump will blink again, and we'll all suffer for it. "It happened to the whole world" isn't an excuse, since, so did inflation after covid and the democrats still got blamed for it.

  • @peoplesrepublicofliberland5606
    @peoplesrepublicofliberland5606 หลายเดือนก่อน +37

    New Argentina just drop

    • @bopndop2347
      @bopndop2347 หลายเดือนก่อน +2

      Except Argentina is Argentina and the US is still the most powerful hegemony in history... You're doing so well America don't ruin it now!

    • @Feefa99
      @Feefa99 หลายเดือนก่อน +8

      ​​@@bopndop2347They have kinda similar plan with economy like Argentina now, but it actually backfired to its population like economists said, shock therapy and austerity measures ends with poverty, unemployment and wealth inequality for sake of lower inflation. And completely canceling government institutions on which people are dependent is...not a great idea like videos says.
      Btw if Argentina will be dependent on US dollar and not on Peso, I really don't want to see how Argentina will look like after drastic changes in USA.

    • @samuelboucher1454
      @samuelboucher1454 หลายเดือนก่อน

      Argentina is doing much better now despite how much you desperately want it to fail to fulfill your socialist prophecies.

  • @GOODYGOODGOOD789
    @GOODYGOODGOOD789 หลายเดือนก่อน +6

    Never expect anything that Elon Musk does, or says to include any common sense whatsoever.

  • @LordSesshaku
    @LordSesshaku หลายเดือนก่อน +20

    In Argentina the experts said it was impossible to cut down the 6% gdp deficit wihout socio-economic implosion. When January, the first month as president came with surplus, they said it was a fluke, when february and march came with surpluses they said: "ok, it is possible, but it's unsustainable because it deepends the recession and therefore diminishes tax income, making it an neverending cycle". We're now in November, still with surpluses, and the economic activity fully recovering after the initial shock.
    Also this video make uniformed claims in 6:48. 1º: Argentina's gdp has been in stagflation since 2011. Last year we had a 3% recession with record inflation and deficit. So Milei's recession is not only part of the hereditary problem, but his reforms are projecting argentina to experience 4-5% gdp growth in 2025 and 2026, making it the first time in a decade that we have a growing gdp two years in a row.
    The claim that Milei drove poverty to 50% is also innacurate, since that poverty was during the previous goverment leaving a 20% monthly inflation. Now that inflation is claming down, and the peso stoped depreciating so quickly, poverty already fell by 8%.
    The state produces no wealth, it only consumes it. It's very possible to cut the deficit, the deficit is filled with unproductive spending and public employees royal privileges.

    • @PorterRockwell500
      @PorterRockwell500 หลายเดือนก่อน +3

      Thank you for this insight.

    • @joelimbergamo639
      @joelimbergamo639 หลายเดือนก่อน

      Its sad how you stated facts until the last one. If the state doesnt produce welth, the elon isnt rich, as all of his companies depended on subsidies at some point. And may I remind you that companies like Airbus are mainly public companies. So just do not lie

    • @OneLine122
      @OneLine122 หลายเดือนก่อน +5

      It's short term thinking.
      No education means a cheap workforce and worst economy in the long term, just as one example.
      Low health care also brings less production overall, and no infrastructure means you are living on borrowed time.
      Most things in life are unproductive.

    • @LordSesshaku
      @LordSesshaku หลายเดือนก่อน

      @@OneLine122 No education? I don't think you've quite understood what I am saying. All of those things that you're telling me were already said by people sure cutting public spending was impossible. But here's the kicker they don't tell you: the people promoting those concepts KNOW the level of overspending, corruption and pointless things the state finances. They're not fighting "for your education" they're using good slogans to make people like you fight for their own tax funded privileges. You'll be AMAZED at the amount of pointless spending Musk is goina to expose if he's as serious as Milei towards a balanced budget.
      Trust me, you'll soon find out how many billions of dollars were being spent in the most insane ways imaginable.

    • @LordSesshaku
      @LordSesshaku หลายเดือนก่อน +2

      @@PorterRockwell500 No problem. However, one warning, what Milei achieved was made because the situation was so bad everyone understood Milei was right. When Macri tried to do something way more moderate than this, progressive circles of society came out to the streets complaining about everything. But when their left wing goverment won the next election, everything became worse, fast.
      Milei could make this because reality was self evident and society was done with left wing economic policies.
      I'm a bit worried that the US might not be quite there culturally, and now you're gonna have a country divided in those supporting the effort, and those sabotaging it and complaing about everything. In Argentina it became popular the following analogy to describe what you'll probably experience in the coming months: After eating dinner, a father is noticing that their house is catching fire, so he quickly tries to convince the family to go outside and call the firefighters. But the wife and the kids refuse to skip dessert and start demanding "FLAN, GIVE ME FLAN, WE WANT FLAN".
      That's what's gonna happen as the realities of US debt and deficit come to light, but certain people are gonna keep demanding to mantain their subsidies and high bureucratic salaries.

  • @petersz98
    @petersz98 หลายเดือนก่อน +11

    This is nuts!

  • @ay2deet578
    @ay2deet578 หลายเดือนก่อน +26

    He should cut the tax breaks for electric vehicles and money given to SpaceX

    • @Daily-PE
      @Daily-PE หลายเดือนก่อน +2

      I an pretty sure that he is actually gonna get rid of the 7500 for ev cars.

    • @ay2deet578
      @ay2deet578 หลายเดือนก่อน +1

      @Daily-PE I am sure Tesla will be made exempt

    • @thearnausian6940
      @thearnausian6940 หลายเดือนก่อน

      Then the US will be stuck on Earth

    • @ay2deet578
      @ay2deet578 หลายเดือนก่อน

      ​@@thearnausian6940he can't get to the moon, no chance they will get to Mars

    • @thearnausian6940
      @thearnausian6940 หลายเดือนก่อน +1

      ​@@ay2deet578They need SpaceX to get to the ISS and moonlanding in ~5 years

  • @zlamanit
    @zlamanit หลายเดือนก่อน +3

    Let’s see him balancing twitter’s books first

  • @AdsaAdad
    @AdsaAdad หลายเดือนก่อน +95

    Oil snake seller billionaire with 0 political experience appointed a high ranking government job. Stuff of comedic TV shows.

    • @TheJohnnee
      @TheJohnnee หลายเดือนก่อน +5

      It's celebrity worship.

    • @rrgz7717
      @rrgz7717 หลายเดือนก่อน +18

      Yeah…because the previous people with actual political experience were doing such a good job.

    • @JanBruunAndersen
      @JanBruunAndersen หลายเดือนก่อน +2

      Why would politician experience matter?

    • @jaegar2004
      @jaegar2004 หลายเดือนก่อน

      He wont serve any official position lol, musk and vivek are just part time advisoors for trump, official positions are given to republicans with political experience. They simply give recommendations to the administration.

    • @procrastinator547
      @procrastinator547 หลายเดือนก่อน +1

      @@JanBruunAndersenseriously? Real question? Cuz if you’re asking that then I’m asking how you have a right to vote? You’re clearly not smart enough to make an informed choice. Does someone have to put a helmet on you in the morning?

  • @coralmillenium
    @coralmillenium หลายเดือนก่อน +6

    For those concerned about the US Federal Government reducing its outlays to *only* ~$5T a year, remember - it was less than that EVERY SINGLE YEAR IN HISTORY prior to 2020. If federal spending continued to grow on the trend it had been on since 2000, spending would currently be around $5.5T (instead of $7.05T). Moving from insane back to excessive amounts of spending does not constitute austerity.

    • @honkhonk8009
      @honkhonk8009 หลายเดือนก่อน

      We did all of that, over disease that wasn't even that bad.
      We possibly changed history PERMANENTLY and sacrificed all our financial futures,
      because people were worried about old people despite old people not even social distancing.
      Actual clown move in retrospect. I cant believe I even support lockdowns.
      We ruined our economy PERMANENTLY to protect a hyper-minority of immuno-compromised people, along with a bunch of old people that wouldv otherwise died already.
      When the unemployment rate goes up 1%, 40,000 people die a year. Worse trade in human history.

    • @OnliPhans_Kenobi
      @OnliPhans_Kenobi หลายเดือนก่อน

      The increased spending served to offset the impacts that the pandemic was having. Similar to the govt bailing out the banks in ‘08, the debt they took on essentially absorbed some of the negative impact we would’ve otherwise seen. Ie. More debt now to avoid a worse economy back then

  • @opiniwise
    @opiniwise หลายเดือนก่อน +9

    0:31 the way he wss jumping 😂😂

  • @Daniel-es9dq
    @Daniel-es9dq หลายเดือนก่อน +3

    I’ve never seen someone jump awkwardly.
    Getting back to balanced budgets might have positive long term benefits.
    Good luck weird man.

    • @HAFBeast91
      @HAFBeast91 หลายเดือนก่อน

      He's done amazing things with Twitter. Look at the people leaving for Bluesky and Mastadon.

  • @revenger211
    @revenger211 หลายเดือนก่อน +26

    What in the alternate timeline are we living in?

    • @SubjectiveFunny
      @SubjectiveFunny หลายเดือนก่อน +5

      The one were you are supporting the bad guys, but still think you are on the side of good..

    • @Mcnuke1453
      @Mcnuke1453 หลายเดือนก่อน

      @@SubjectiveFunnyYou can’t even spell where 😂😂😂😂

  • @TimesFM4532
    @TimesFM4532 หลายเดือนก่อน +2

    Very efficient having two people do one job

    • @robertp457
      @robertp457 หลายเดือนก่อน

      Three the GAO is run by someone, too.

  • @F0XRunner
    @F0XRunner หลายเดือนก่อน +1

    All I heard was tax cuts. Good enough for me, budget shortfalls are someone else's problem.

  • @three_mountaineers775
    @three_mountaineers775 หลายเดือนก่อน +8

    2:02 It's honestly dumb that Trump is claiming he'll fix the deficit problem when the deficit increased during the entirety of his previous term.

  • @tobiwan001
    @tobiwan001 หลายเดือนก่อน +9

    If you don't look at spending in terms of GDP, but in spending in relation to tax reveneus, you can easily see that the US could not balance the budget, even if it doubled the income tax. It's unablanceable, if you don't massively cut everything and that would cause an epic crisis or would mean 1-2 lost decades. US growth was high over the last decade due to the enormous spending spree and a doubling of the debt/GDP ratio.

  • @SilvesterMiles-y4j
    @SilvesterMiles-y4j หลายเดือนก่อน +528

    Okay, Elon might have a plan for the US budget, but what about mine? I’ve hustled to stash $155k as my emergency fund and I’m ready to dip my toes into investing, but I feel like a squirrel staring at a Ferrari-where do I even start? Can someone please give me a cheat sheet to financial glory?

    • @claireNymans
      @claireNymans หลายเดือนก่อน +4

      First of all, props for that $155k-it’s like a dream emergency fund. But diving into investing without a game plan? Risky. My two cents: get a financial advisor. I did, and the difference was night and day. Sure, Elon’s ideas are fun, but a good pro can give you a solid strategy. Trust me, it's worth it!

    • @VeronicaOlivers
      @VeronicaOlivers หลายเดือนก่อน

      Totally feel you both! I've been itching to invest but figuring out where to find a legit advisor feels like trying to pick a needle out of a haystack. Any tips on finding someone trustworthy? I want to start strong, not burn through my hard-earned cash.

    • @claireNymans
      @claireNymans หลายเดือนก่อน +3

      "There are a handful of CFAs out there. I've experimented with a few over the past years, but I've stuck with Linda Aretha Reeves for some years now, and her performance has been consistently impressive. She’s known in her field-look her up."

    • @SilvesterMiles-y4j
      @SilvesterMiles-y4j หลายเดือนก่อน

      Wow, I just looked up Linda Aretha Reeves, and she seems like exactly what I need to level up my financial journey. Thanks for the tip!

    • @MollyShorters
      @MollyShorters หลายเดือนก่อน

      Saw Linda Aretha Reeves speak at a Bloomberg finance summit a few years back-her presentation was phenomenal. You’re in good hands!

  • @perlaursen1885
    @perlaursen1885 หลายเดือนก่อน

    Super video. Very clear speech and important content. No annoying commercial noise. Thanks

  • @AverageJoe-vd9mw
    @AverageJoe-vd9mw หลายเดือนก่อน +2

    Department so effective they've got 2 leaders

  • @jeffevarts8757
    @jeffevarts8757 หลายเดือนก่อน +9

    Given the title, almost 9 minutes of unfounded blue-sky speculation about how Musk MIGHT approach the problem was a bit disappointing, really. I feel like I was conned into clicking. :(

    • @TheGeorgeD13
      @TheGeorgeD13 หลายเดือนก่อน

      I mean it’s pretty accurate. He’ll gut the government and put it into his pocket and fuck everybody else. Historically, that’s how these things ALWAYS go.
      The average person will NEVER benefit.

  • @JustHarrison
    @JustHarrison หลายเดือนก่อน +7

    What a disappointing video. You don't explain anything about Elon's plans to "balance the budget." All you say is he's going to cut the federal budget. What a waste of time!

    • @MightyJosh1985
      @MightyJosh1985 หลายเดือนก่อน

      How else is he going to do it? He makes rockets and electric cars. He didn't graduate from Hogwarts.

    • @martin2289
      @martin2289 หลายเดือนก่อน

      To call what he's got in mind a "plan" is laughable.

  • @DS-rw5lv
    @DS-rw5lv หลายเดือนก่อน +12

    Sounds like Ron Swanson’s dream job. SLASH IT! SLASH IT!

    • @AOA9871
      @AOA9871 หลายเดือนก่อน

      This will nuke our economy and put more money in the pockets of rich elites.

  • @jamesduggan5846
    @jamesduggan5846 หลายเดือนก่อน +1

    Skeptical but optimistic

  • @webapp-sec
    @webapp-sec หลายเดือนก่อน +1

    "From outside Govt." is a key phrase here. It's a commission, then, not a department at all.

  • @rhysmuir
    @rhysmuir หลายเดือนก่อน +13

    The US doesn't need to cut defense spending, they need to stop being ripped off by contractors. They could be doing the same for less, or way more for the same cost. But, there are likely politicians that are getting paid to make those contracts still go through

    • @thejanssen6030
      @thejanssen6030 หลายเดือนก่อน

      Keeping wasting money on things as long as we aren't overpaying? Brilliant That's the classic woman stereotype "it's on sale so it's a deal...even if I don't need it"

    • @rhysmuir
      @rhysmuir หลายเดือนก่อน

      @ what?
      I’m saying, if military contractors weren’t ripping the government off, they could save money or (if they are happy to keep the same budget) they could get more military supplies. How is that women’s logic… that just basic math

    • @thejanssen6030
      @thejanssen6030 หลายเดือนก่อน

      @@rhysmuir "I paid $500 for a $1500 purse that I don't need" isn't basic math.

    • @rhysmuir
      @rhysmuir หลายเดือนก่อน

      @thejanssen6030 yes… but that’s not what I’m saying. The military isn’t buying things “on sale”… they are getting over charged… so, if they weren’t getting over changed (not a “sale”) they could either spend less or buy more. In 1991, a stinger missile cost $25k, today it’s over $400k… even with inflation that is a huge increase in price. So if the contractor didn’t price gouge, and if the military only needed one stinger missile, they could have saved $375k or, if they have a budget of $400k they could have bought 16 of them instead of just the 1.
      I’m confused… it seems like you are either pro wasting tax dollars, or have some major shares in the military contractors

    • @thejanssen6030
      @thejanssen6030 หลายเดือนก่อน

      @@rhysmuir Wow. You just broke out the classic clueless women mentality. Thanks for proving my point

  • @dux_bellorum
    @dux_bellorum หลายเดือนก่อน +9

    No one is going to talk about how he is going to use this position to get even more government money into his companies???? No? Ok got it 👍🏾

    • @chefnyc
      @chefnyc หลายเดือนก่อน +1

      😂😂😂

    • @thejanssen6030
      @thejanssen6030 หลายเดือนก่อน

      We will when we see it. Until then, there are enough sheep running in circles screaming about the sky falling.

    • @olivierl2172
      @olivierl2172 หลายเดือนก่อน

      I don’t think he’ll be able to do that.

    • @robertp457
      @robertp457 หลายเดือนก่อน +1

      @@thejanssen6030 You think Musk isn't going to exploit his position in the Government for his own gains? Just like Trump is doing? Just like nearly every politician has done? How does a politician come into an office that makes $400k a year and leave 4 years later worth significantly more than their paychecks add up to?

    • @robertp457
      @robertp457 หลายเดือนก่อน

      @@olivierl2172 You don't think he's be able to do that? What's going to stop him? What rules have stopped Musk before?

  • @itryen7632
    @itryen7632 หลายเดือนก่อน +5

    I don't think i even need anyone to tell me why this won't work.

  • @richardharvey1732
    @richardharvey1732 หลายเดือนก่อน

    Hi T L D R, thank you for doing this, early on you display a chart showing the relationships between debt service charges and the other major elements of government spending, I have long suspected that it is the ongoing cost of money that has become the largest single item in average domestic budgets and have wondered how this might apply to national budgets.
    The thing about this for me is that this part of modern economics is quite new, it is only in just the last few decades that borrowing ever increasing amounts of money has become such a major issue. This would seem to me to contribute enormously to the need for a quite radically different way at looking at our economies and measuring 'growth'.
    Cheers Richard.

  • @meganegan5992
    @meganegan5992 หลายเดือนก่อน +1

    Think about how Musk handled the Hyperloop and self-driving cars, and that should give a picture of how well I expect this thing to work.

    • @martin2289
      @martin2289 หลายเดือนก่อน

      Exactly. It's hard to think of a worse person to be providing advice about "efficiency" given his disastrous track-record in practice.

    • @MrJdsenior
      @MrJdsenior หลายเดือนก่อน

      And X.

  • @johnsmith99997
    @johnsmith99997 หลายเดือนก่อน +7

    Man whos wealth has come from scrounging government subsidies is now in charge of allocating government subsidies...

  • @mzo.7333
    @mzo.7333 หลายเดือนก่อน +10

    Im no economics guy but why is everyone against reducing govt spend particularly when they are spending more than they are taking in?

    • @kijangberburu5991
      @kijangberburu5991 หลายเดือนก่อน

      Ask donald trump and ronald reagan. They always talk about reducing govt spending yada yada yada, the fact was that they only reduce revenue and not spending, they made the deficit even worse with their tax cut.

    • @peter-d9f3l
      @peter-d9f3l หลายเดือนก่อน +13

      Probably because:
      a) a lot of the reductions will be things which people rely on like Medicare, Medicaid, Social Security,...
      b) it will bankrupt many companies which rely on government contracts, which will put lots more people out of work than just the government job cuts
      c) reducing the GDP by that amount will cause a recession
      d) it's being run by rich people, so the impacts will mostly be felt by poor people
      And that's just of the top of my head. There's probably many other reasons I haven't thought of.

    • @juliuszkocinski7478
      @juliuszkocinski7478 หลายเดือนก่อน +6

      It's not about reducing spending itself.
      The guy who is set to run it founded Hyperloop just to push traditional trains out of the high-speed rail competition and then killed the project. And he founded The Boring Company to make suburban tunnels for cars to halt the development of the metro system(when metro plans were abandoned, Boring stopped boring).
      All of this to nip in the bud the development of public transport threatening Tesla's market.
      ... And now this man will have a federal body determining which projects are a waste of money

    • @kitolz
      @kitolz หลายเดือนก่อน +1

      Because it's even more corporate control in government, this time directly doing it themselves instead of them lobbying/bribing politicians to do what they want.
      I hope it goes well, but I'm not optimistic.

    • @gmu3134
      @gmu3134 หลายเดือนก่อน +4

      Bruh it is a bunch of rich people making themselves richer… in Russia it is called Oligarchs!

  • @matis9562
    @matis9562 หลายเดือนก่อน +5

    Elon Musk is doing venture capital on the US government. That’s crazy, the US government is selling itself 🤣

  • @ycplum7062
    @ycplum7062 หลายเดือนก่อน +1

    While there is much complaint of US governmental excess, Argentina had a lot more people on their government payroll as a percentage of population. They actually had a lot more fat to trim than the US.

  • @GMBOB12
    @GMBOB12 หลายเดือนก่อน

    when you own the money printer. money printer go brrrrrrrr.

  • @justinlumpkin1874
    @justinlumpkin1874 หลายเดือนก่อน +6

    5:00 "that's why he wants to cut down the us state" no, he wants to cut it down because the regulatory state requires his companies to actually behave safely and fulfill their contractual obligations before getting the sweet sweet taxpayer money

    • @thomasscroggs4410
      @thomasscroggs4410 หลายเดือนก่อน

      Agreed. That and Elon wants to fulfil a fantasy that he is secretly Tony Stark from Marvel Comics.

  • @kindofanmol
    @kindofanmol หลายเดือนก่อน +11

    THE biggest grifter of our times.

    • @peter-d9f3l
      @peter-d9f3l หลายเดือนก่อน +1

      Which one?

    • @xGruffy
      @xGruffy หลายเดือนก่อน

      @@peter-d9f3lboth

    • @donmeisner4438
      @donmeisner4438 หลายเดือนก่อน

      @@peter-d9f3l Trump and Musk of course

    • @alexmarsch1877
      @alexmarsch1877 หลายเดือนก่อน

      🤡

  • @97Corvi
    @97Corvi หลายเดือนก่อน +5

    No guys you don't get it !
    He is going to be so funny about it !!!
    The memes guys !!
    The meeeeeeme !!!! 💯💯😂😂😎😎

  • @RPGmodsFan
    @RPGmodsFan หลายเดือนก่อน

    First and Foremost, the US Military Spending needs to cut drastically (like 50%), by cancelling Military Contracts, closing bases overseas, etc. I think spending should actually increase in other areas, such as Healthcare (Medicare For All), Education (ones that focus on the sciences, research and engineering), etc.

  • @cptmarcus
    @cptmarcus หลายเดือนก่อน

    Saw this on tiktok and it made me chuckle, the department of government efficiency will be lead by TWO people doing the same job.

  • @yellowboeing6030
    @yellowboeing6030 หลายเดือนก่อน +4

    Beer..check, popcorn…check, lazy boy…check, this is going to be four years of slapstick and stand up comedy.

    • @alexmarsch1877
      @alexmarsch1877 หลายเดือนก่อน

      indeed, laughter at all the clownish critics of this new team! Lazy boys will be lazy

  • @runeeskesen5920
    @runeeskesen5920 หลายเดือนก่อน +9

    If deregulation is the way forward, how come all rich countries are extremely regulated and Somalia is still shit after 30 years of no regulations.

    • @SocialDownclimber
      @SocialDownclimber หลายเดือนก่อน +2

      I think they have a 'demographics based' answer for that one.

    • @hhbattery4746
      @hhbattery4746 หลายเดือนก่อน +3

      False analogy fallacy

  • @tobiwan001
    @tobiwan001 หลายเดือนก่อน +7

    If they fire all government employees, they would save about 1 trillion. 1.5 trillion tops. So how does he think he can save 2 tn? The biggest expenses are social security, medicare, medicaid, interest payment and military. So he needs to cut off all the pensioners to save this much or let the US go bankrupt.

    • @dannydxm
      @dannydxm หลายเดือนก่อน +3

      You do understand that it's not just salaries that come out of the government coffers do you?

    • @i_like_beer-o2f
      @i_like_beer-o2f หลายเดือนก่อน

      Yeah that's the hard truth of the matter. Developed countries are all being crushed under the weight of old people. Governments around the world are burying themselves in debt trying to pay pensions and healthcare for all the old people.

    • @tobiwan001
      @tobiwan001 หลายเดือนก่อน +1

      @@dannydxm you don’t seem to read my post. The rest is transfer payments, I.e. to pensioners, to fund medical treatments and to pay interest. So what do you want to stop?

    • @thejanssen6030
      @thejanssen6030 หลายเดือนก่อน

      @@tobiwan001 Transfer payments

  • @425ivanhoe
    @425ivanhoe หลายเดือนก่อน

    You missed the part about cutting waste...not removing essentials. There is a lot of waste.

  • @developerdeveloper67
    @developerdeveloper67 หลายเดือนก่อน

    What is this? Some unbiased news reporting? Impossible! Let's go Musk!

  • @prasanths3034
    @prasanths3034 หลายเดือนก่อน +4

    To be fair, it's good to see this happening in the US. They had toppled regimes, including democracies, for so long. Maybe this is comeuppance.

  • @jeffgriffith9692
    @jeffgriffith9692 หลายเดือนก่อน +3

    The only thing that would have that of an immediate and direct impact would be a significant US defense budget cut and good luck on that...

    • @robertp457
      @robertp457 หลายเดือนก่อน

      Why would anyone suggest a cut in defense spending when there is a chance two major wars will kick off in the next four years?

  • @mihangelap-williams9871
    @mihangelap-williams9871 หลายเดือนก่อน +11

    The words "musk believes" says it all.
    Musk needs to stay off the internet

  • @Johnny-es9xg
    @Johnny-es9xg หลายเดือนก่อน +2

    You forgot tarrifs

    • @martin2289
      @martin2289 หลายเดือนก่อน

      So did most of the people who voted for Trump (or believed his lies about them).

  • @paulb9453
    @paulb9453 หลายเดือนก่อน

    Possibly the best news channel, on any platform?

  • @vulcan4d
    @vulcan4d หลายเดือนก่อน +3

    So two business men think they know how to run a Country which politicians basically prepared their entire life for.

    • @Sapwolf
      @Sapwolf หลายเดือนก่อน

      They are just going to come up with many suggestions. They don't have the power to implement the changes.

    • @darrenmclaughlin1362
      @darrenmclaughlin1362 หลายเดือนก่อน

      I bet you think they "prepared their entire life" to wisely rule the country instead of to get what graft they could get their hands on.

  • @yadeel8281
    @yadeel8281 หลายเดือนก่อน +5

    Having two leaders of an efficiency department is so ironic

  • @coachtaewherbalife8817
    @coachtaewherbalife8817 หลายเดือนก่อน +4

    Cutting spending doesn't balance the budget, because govt spending is put back into the economy, i.e. it pays for itself. Take for example the military. That budget pays for weapons, which goes to US corps. And salaries of personnel, that they spend on their families. When you cut that spending, it cuts money to businesses. Stop thinking of the govt as a business. It doesn't work the same way.

    • @darthkek1953
      @darthkek1953 หลายเดือนก่อน +3

      That's a public-sector version of trickle-down.

    • @speedy01247
      @speedy01247 หลายเดือนก่อน

      ​@@darthkek1953it worked far more effectively then any other form of trickle down. Especially for the millions who get paid working for the government directly.

    • @andrewhudson7481
      @andrewhudson7481 หลายเดือนก่อน

      Yes, basic economics 101 should be a mandatory requirement for anyone holding office

    • @coachtaewherbalife8817
      @coachtaewherbalife8817 หลายเดือนก่อน +3

      @darthkek1953 The economy is literally trickle down. Businesses aren't. A person's salary goes to neighborhood businesses, but a CEO wants to cut salaries so he increases his company's bottom line. That's why trickle down doesn't work in businesses. They have no motivation to increase salaries unless they have to.

  • @stranger6822
    @stranger6822 หลายเดือนก่อน +1

    It's upsetting that sensible policies like Rand Paul's proposal never seem to get a chance. Cutting spending a little each year would do the trick without excessive economic hardship. But even if that passed, good luck getting future administrations to maintain it. Instead, we're probably either going to get no real action or something extreme like what Argentina did.

    • @robertp457
      @robertp457 หลายเดือนก่อน

      "Cutting spending a little each year would do the trick without excessive economic hardship" What does that mean for people who are barely getting by now and who can't afford to buy a house while rent is increasing every year? It means nothing. Coming from a rich person who's a career politician and hasn't had to worry about the cost of anything in their personal lives it means nothing.

  • @JimRFF
    @JimRFF หลายเดือนก่อน +2

    Will it *work* ?
    Short answer: No
    Long answer: Noooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo

  • @tatianastarcic
    @tatianastarcic หลายเดือนก่อน +5

    The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents.inflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?

    • @LUCIASMITH-d1z
      @LUCIASMITH-d1z หลายเดือนก่อน +1

      Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.

    • @jeromesand
      @jeromesand หลายเดือนก่อน +1

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    • @JacobsErick-u8r
      @JacobsErick-u8r หลายเดือนก่อน +1

      I could really use the expertise of this advisors

    • @jeromesand
      @jeromesand หลายเดือนก่อน +1

      I've experimented with a few over the past years, but I've stuck with the popularly ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

    • @winifred-k9e
      @winifred-k9e หลายเดือนก่อน +1

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  • @wonderwhyiwonder3458
    @wonderwhyiwonder3458 หลายเดือนก่อน +3

    Well I appreciate the need to make Musk's case to what I assume is a largely left leaning audience, I think some context on the US debt is important. Most economists agree that that deb grove needs to be viewed in the context of GDP growth and general economic development, so saying "The deficit is really high now compared to the US's average" is not necessarily a useful metric. Per FRED (econ database by the St. Louis Federal Reserve), the US debt to GDP ratio shrank in the first two years of the Biden presidency, only starting to rise in the second half of 2023 and then fluctuating back down in the latest numbers from 2024. Currently the ratio is 120% of GDP, which I think most people would like to cut, but Japan has a whopping ~240% (they are, of course, an outlier in the OECD, but the US is roughly in line with peers like France and the UK).
    All this suggests that radical reform is not exactly necessary compare to level headed containment and reduction of government costs while letting the economy continue to do it's thing.

    • @thejanssen6030
      @thejanssen6030 หลายเดือนก่อน

      All of that is absolute brainwashed garbage to anyone who as even a clue about the enormity of the waste and corruption in the government. Feels like this was written by a bad AI, and it makes that much sense too.

  • @cosmedelustrac5842
    @cosmedelustrac5842 หลายเดือนก่อน +4

    Let's hope that he will not redo his Twitter/X Thanos snap with important sectors like education or health.

    • @darthkek1953
      @darthkek1953 หลายเดือนก่อน +3

      The Department of Education was created in 1980. Since then not one, not ONE, metric of education has improved. Not a single one.

    • @mustarastas88
      @mustarastas88 หลายเดือนก่อน

      @@darthkek1953 The federal government is not responsible for education, states are.

    • @darthkek1953
      @darthkek1953 หลายเดือนก่อน

      @@mustarastas88 Then why can't the Federal Department of Education be abolished?

  • @sollerclock
    @sollerclock หลายเดือนก่อน

    People don't realize that the only person in this country that has the ability to pull off something like this Elon Musk

  • @SeverusFelix
    @SeverusFelix หลายเดือนก่อน

    "Balancing the budget." That's a phrase I haven't heard in decades.