from Your News:
The Trump administration, in collaboration with Elon Musk’s DOGE Team, has reportedly implemented massive spending cuts that will slash the U.S. deficit by $1 trillion this fiscal year.
By yourNEWS Media Newsroom
In a historic announcement, Elon Musk declared on Saturday that President Donald Trump’s administration and the DOGE Team have already enacted deep spending cuts, setting the stage to reduce the U.S. deficit by half before the fiscal year ends.
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“I am cautiously optimistic that we will reach the $4B/day FY2026 reduction this weekend,” Musk posted on X, highlighting the rapid pace of financial restructuring under Trump’s leadership.
I am cautiously optimistic that we will reach the $4B/day FY2026 reduction this weekend https://t.co/XQBK3rqkwo
— Elon Musk (@elonmusk) February 1, 2025
Musk’s announcement follows a series of decisive actions from Trump’s second term, including the bombing of Islamic terrorist targets, banning transgender individuals from military service, shutting down USAID’s website, and accelerating mass deportations of illegal aliens.
Treasury Overhaul and Biden’s Deficit Legacy
Reports indicate that Musk has gained access to Treasury Department files and that at least one top official has resigned amid the administration’s shake-up. This comes as the Trump Treasury Secretary revealed details about how the Biden administration’s policies deliberately expanded the U.S. deficit to record levels.
Under Biden, the U.S. deficit topped $1.8 trillion in 2024, exacerbated by high spending and mounting national debt interest payments.
A viral post on X from hedge fund manager Scott Bessent alleged that the Biden administration actively sabotaged the U.S. economy through reckless fiscal policies.
“So here we have American investor and hedge fund manager Scott Bessent explaining how the Biden administration deliberately sabotaged the U.S. economy and ballooned the deficit…..” one post stated, accompanied by a video detailing the financial mismanagement under Biden.
Trump’s Economic Reset
The Trump administration’s fiscal restructuring has sent shockwaves through Washington, with Musk’s team reportedly leading deep audits into federal spending. The cuts are expected to dramatically reshape government spending priorities, with an emphasis on reducing wasteful bureaucracy, foreign aid excesses, and costly federal programs initiated under Biden.
