Trump praises the work of Elon Musk and his D.O.G.E in Congressional address

Source Cryptopolitan

Donald Trump stood before Congress on Tuesday night and made it clear—he’s all in on Elon Musk’s government-slashing operation.

With stock and crypto markets already in chaos over his new tariffs on Canada, Mexico, and China, Trump doubled down on his support for Elon’s so-called Department of Government Efficiency (DOGE), the group leading the charge to gut federal spending and slash jobs.

“And Elon is doing a great job,” Trump said. “He didn’t need this. He’s doing America a favor, and we really appreciate it.” Then, in true Trump fashion, he looked over at the Democrats, nodded toward their side, and added, “Even this side appreciates it, trust me. They’re just not gonna admit it.”

Across the room, the Democrats had brought along military veterans and former government workers—people who lost their jobs thanks to Elon’s campaign. They held up protest signs that read, “False,” and “Protect veterans.”

Trump appreciates D.O.G.E. Source: WSJ

Elon’s D.O.G.E wipes billions in claimed savings

DOGE has been on a deletion spree, wiping out claims of savings faster than they appeared. Late Sunday night, the group removed or altered more than 1,000 contracts it had previously said were canceled.

That’s over 40% of all contracts listed just a week ago, bringing down its total savings claims from an initial $16 billion to less than $9 billion.

Among the deleted entries were five of the seven biggest savings claims DOGE had boasted about. A $1.9 billion IRS contract for tech services? Gone. The New York Times found out the contract had already been canceled under Biden in November.

A $149 million contract for three administrative assistants at the Department of Health and Human Services? Disappeared. The numbers didn’t match up, and a completely different contract was mistakenly linked.

Another $133 million in so-called savings came from a US Agency for International Development contract for work in Libya. The contractor, Chemonics International, had already wrapped up the project last year. Yet DOGE took credit for canceling it.

Even after all these changes, the errors haven’t stopped. As of Monday morning, DOGE’s site still claimed a $106 million savings from two Coast Guard contracts. A quick check of federal records showed those contracts ended back in 2005 and 2006—during the George W. Bush administration.

Confusion over D.O.G.E’s Wall of Receipts

DOGE had initially launched its “wall of receipts” as a public showcase of all the canceled contracts that supposedly saved taxpayers over $100 billion.

But with more deletions happening every week, the list is becoming less reliable. It’s also the only place where DOGE is giving a detailed public breakdown of its numbers, and it’s raising questions about just how accurate their figures really are.

After multiple reports from media outlets pointing out the mistakes, DOGE quietly updated its website to shift responsibility. Now, a disclaimer says that all numbers “originate directly from agency contracting officials.” That doesn’t explain why so many of the claims keep vanishing.

The shrinking savings total hasn’t slowed down Elon’s operation. DOGE keeps adding new canceled contracts to replace the deleted ones. But these new ones are worth smaller amounts, meaning that the total savings number is still dropping.

Meanwhile, contracting and budget experts are raising concerns about DOGE’s overall competence, given how many mistakes keep piling up.

Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Yen Nears 160 Mark Again, Is Japan Intervention Imminent? As the US dollar continues to strengthen, the yen is once again approaching a key psychological level. During the Friday Asian trading session, USD/JPY (USDJPY) rose to near the 160 level
Author  TradingKey
9 hours ago
As the US dollar continues to strengthen, the yen is once again approaching a key psychological level. During the Friday Asian trading session, USD/JPY (USDJPY) rose to near the 160 level
placeholder
WTI climbs above $95.50 as Iran says the Strait of Hormuz must remain closed West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $95.75 during the early Asian trading hours on Friday. The WTI price surges due to the effective closure of the Strait of Hormuz amid conflict involving the United States (US), Israel, and Iran.
Author  FXStreet
18 hours ago
 West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $95.75 during the early Asian trading hours on Friday. The WTI price surges due to the effective closure of the Strait of Hormuz amid conflict involving the United States (US), Israel, and Iran.
placeholder
Goldman Sachs Raises Oil Price Forecasts and Warns Oil May Break All-Time Highs if Strait of Hormuz Disruption PersistsTradingKey - As tensions in the Middle East continue to escalate, concerns over supply disruptions in the energy market are heating up rapidly. Goldman Sachs' latest report raised its crude oil price
Author  TradingKey
Yesterday 10: 00
TradingKey - As tensions in the Middle East continue to escalate, concerns over supply disruptions in the energy market are heating up rapidly. Goldman Sachs' latest report raised its crude oil price
placeholder
SEC, CFTC move past turf battle as Bitcoin approaches $70KThe SEC and the CFTC entered into a memorandum of understanding to work together on a regulatory framework.
Author  Cryptopolitan
Yesterday 09: 59
The SEC and the CFTC entered into a memorandum of understanding to work together on a regulatory framework.
placeholder
Gold weakens as inflation concerns lift US bond yields and USD; downside remains cushionedGold (XAU/USD) trades with a negative bias for the second consecutive day on Thursday, though it lacks follow-through selling and stalls the intraday slide near the $5,125 area.
Author  FXStreet
Yesterday 06: 01
Gold (XAU/USD) trades with a negative bias for the second consecutive day on Thursday, though it lacks follow-through selling and stalls the intraday slide near the $5,125 area.
goTop
quote