Musk weighs a ‘DOGE dividend’ to send Americans checks using saved funds

Elon Musk Considers “DOGE Dividend” Proposal, Prioritizes Balanced Budget

Elon Musk recently acknowledged a proposal to use savings identified by the Department of Government Efficiency (DOGE) to issue a “DOGE dividend” to American taxpayers. The concept, however, has been superseded by a focus on balancing the federal budget.

The initial idea came from X user James Fishback, who suggested that 20% of the savings found by DOGE be returned to taxpayers as a refund. Fishback estimated that if DOGE reached its target of cutting $2 trillion in federal spending, this could result in a roughly $5,000 “DOGE dividend” per household for the 78 million taxpaying households in the U.S. The remaining 80% would be allocated for paying down the national Debt.

View original Tweet(X post) by James Fishback

Musk’s Response and Budgetary Focus

In response to Fishback’s post, Musk initially replied, “Will check with the President.” This refers, to former President Donald Trump. The Two of them, recently were featured on Fox News Channel’s *Hannity,*

However, Musk later clarified his position, emphasizing that the primary objective should be to balance the budget. He stated on Wednesday, “We need to balance the budget as first priority,” in response to concerns about the potential misuse of DOGE savings.

DOGE’s Savings Goals and Progress

While the initial “DOGE dividend” proposal was based on a $2 trillion savings target, Musk has suggested that achieving $1 trillion in savings would be considered a success. He described to accomplish this goal on the “Hannity” Show with Former President Donald Trump

“The overall goal is to try to get a trillion dollars out of the deficit,” Musk explained. He further stressed the critical importance of fiscal responsibility, stating, “If the deficit is not brought under control, America will go bankrupt.”

DOGE Has Reported an estimation of $55 billion in savings from

• Canceling and Renegotiating Federal Leases and Contracts
• Asset sales,
• Fraud Deletion
• Regulatory Savings
• Workforce reductions.

The Scale of the Federal Deficit

The challenge facing DOGE and a potential future Trump administration is substantial. According to the Congressional Budget Office (CBO), the federal government ran a budget deficit exceeding $1.8 trillion in fiscal year 2024. Furthermore, CBO projections indicate that the deficit is expected to surpass $2 trillion annually in the coming years.

Key Takeaways

• Elon Musk initially considered a proposal to distribute a portion of government savings as a “DOGE dividend.”
• Musk has since prioritized balancing the federal budget as the immediate goal.
• DOGE aims to significantly reduce the federal deficit, with a target of $1 trillion in savings.
• The federal deficit is projected to exceed $2 trillion annually in the near future, posing a significant fiscal challenge.

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