President Donald Trump announced his proposal to allocate some savings from Elon Musk's cost-cutting initiative to provide financial payouts to Americans and reduce the national debt. At an investment summit in Miami, Trump suggested distributing 20 percent of the savings back to citizens and the same amount to address the federal debt, which amounts to $36 trillion. Skeptics, including UC Berkeley professor Guo Xu, voiced concerns about these measures potentially undermining government functionality instead of focusing on infrastructure and essential services.
We're thinking about giving 20 percent back to the American citizens, and 20 percent down to pay back debt. Trump's suggestion came a day after DOGE adviser James Fishback proposed a DOGE dividend.
This seems like a populist measure designed to make the crippling of our federal government capacity more appealing,
The numbers are incredible, Elon. So many billions of dollars, hundreds of billions, Trump told the Future Investment Initiative, referring to savings identified by Musk's cost-cutting drive.
Instead of cutting the government to cut cheques, we should be investing to strengthen the nation's infrastructure, science and national security.
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