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
Gold pulls back from record highs as USD recovers ahead of Fed decisionGold (XAU/USD) attracts some sellers during the Asian session on Wednesday and moves away from the all-time peak, levels just above the $3,700 mark touched the previous day.
Author  FXStreet
Sep 17, 2025
Gold (XAU/USD) attracts some sellers during the Asian session on Wednesday and moves away from the all-time peak, levels just above the $3,700 mark touched the previous day.
placeholder
ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next MoveWith the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
Author  Mitrade
Dec 26, 2025
With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
placeholder
Gold Price Forecast: XAU/USD keeps looking for direction above $4,500Gold (XAU/USD) trades lower for the second consecutive day on Friday, but remains contained within previous ranges, with downside attempts limited above the $4,500 line for now.
Author  FXStreet
May 22, Fri
Gold (XAU/USD) trades lower for the second consecutive day on Friday, but remains contained within previous ranges, with downside attempts limited above the $4,500 line for now.
placeholder
Finding The Best Japan Stocks to Buy? These are Top Japanese Companies to Watch Discover the best Japanese stocks to buy, including AI semiconductor leaders, Buffett-backed trading houses, and undervalued Japan stocks benefiting from corporate reforms and yen trends.
Author  Mitrade
May 29, Fri
Discover the best Japanese stocks to buy, including AI semiconductor leaders, Buffett-backed trading houses, and undervalued Japan stocks benefiting from corporate reforms and yen trends.
placeholder
Bitcoin Price Forecast: BTC slips below $64,000 as hawkish Fed stance weighs on risk appetiteBitcoin (BTC) remains under pressure, extending its correction, trading below $64,000 at the time of writing on Thursday. The US Federal Reserve (Fed) left interest rates unchanged but struck a hawkish tone on Wednesday, dampening the risk sentiment.
Author  FXStreet
5 hours ago
Bitcoin (BTC) remains under pressure, extending its correction, trading below $64,000 at the time of writing on Thursday. The US Federal Reserve (Fed) left interest rates unchanged but struck a hawkish tone on Wednesday, dampening the risk sentiment.
goTop
quote