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Right here’s one thing President Donald Trump, Elon Musk, and I agree on: the federal authorities throws away trillions of {dollars} on wasteful spending. I’ve spent years making an attempt to squeeze authorities waste out of our price range, and I’m able to work with Musk to make authorities extra environment friendly and save taxpayers cash. However right here’s the factor: we have to focus in the correct place. As an alternative of slicing assist for individuals who depend on Medicare, Social Safety and the VA, let’s concentrate on the billionaires and billionaire companies who’re feasting off the American taxpayer.
After promising his Division of Authorities Effectivity (DOGE) would reduce $2 trillion in authorities waste, Musk’s ambition is quickly shrinking. Inside weeks, he cut his purpose in half to $1 trillion– all earlier than he’s really reduce a single greenback. I don’t need Musk to fold so rapidly. I crunched the numbers and located $2 trillion that we may reduce over the following 10 years by specializing in the blokes who’re getting wealthy off our authorities. Final week, I despatched Musk my blueprint to do exactly that.
Congressional Republicans’ preliminary plans call for cuts to authorities packages that hundreds of thousands of Individuals depend on to pay their payments every month – issues like Social Safety, cash to cowl nursing house prices, and assist shopping for non-public medical health insurance. Scrapping important providers isn’t effectivity; it’s cold-hearted cruelty. Tossing previous people out of nursing homes or telling those that their insurance coverage has been cancelled gained’t get monetary savings; it simply makes lives harder for households that wrestle to choose up the slack. If Musk and the Republicans take that route, it will likely be a catastrophe for working individuals and I’ll combat again.
DEMOCRATS JOIN DOGE SUBCOMMITTEE, INCLUDING MEMBER SEEKING ‘GOOD GOVERNMENT’
However we don’t have to chop the packages Individuals depend on. We are able to remove at the very least $2 trillion of presidency waste over the following decade with out slicing packages that assist our grandparents, our veterans, and our youngsters. The truth is, I’ve 30 particular proposals to do exactly that. I will share a number of of them now, however you’ll be able to learn all about them in my letter to Musk here.
Listed here are a number of examples of presidency waste we may begin with. First, we may negotiate higher contracts for the Division of Protection. In 2023, the DoD spent $440.7 billion on contracts – and large contractors overcharge us on almost every little thing. The Air Pressure pays over 7,500% extra on cleaning soap dispensers than common Individuals do. The Army pays $71 for pins that ought to value lower than a nickel. Spending is so uncontrolled at DoD that it’s the solely company in government that cannot move a easy audit. American taxpayers are sick of getting scammed by overpaid navy contractors. My suggestions on Protection spending alone would save nearly $200 billion within the subsequent 12 years.
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Taxpayers are additionally getting swindled by for-profit medical health insurance corporations. Proper now, about half of all seniors have been lured right into a privatized Medicare program referred to as Medicare Benefit. This program was began to decrease prices for seniors, however over time the insurers discovered increase their earnings by manipulating claims and denying protection. It’s so unhealthy now that the non-partisan Medicare Payment Advisory Commission estimates that privatized Medicare insurers overcharged taxpayers by overcharged taxpayers by nearly $83 billion in 2024 alone, whereas different impartial researchers put the greenback determine at $140 billion. Rooting out their soiled ways may save greater than a trillion {dollars} over ten years with out slicing Medicare advantages by one penny.
Cracking down on well being care profiteering isn’t a partisan problem. I’ve partnered with Republican Josh Hawley of Missouri to claw again billions extra from companies which might be dishonest the federal government on well being care prices. He’s not the one Republican who agrees that we have to cease companies from overcharging taxpayers for lifesaving medicines: President Trump has voiced President Trump has voiced supportfor one more one in all my proposals to chop wasteful spending, Medicare worth negotiations. By increasing this program to convey the costs down for the costliest medication lined by Medicare, the federal government may save taxpayers could save taxpayers another $200 billion over the following decade.
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We are able to convey down the deficit by slicing spending, however we will additionally enhance our monetary place by making millionaires and billionaires pay their fair proportion. Hedge funds and personal fairness corporations use loopholes to use loopholes to avoid paying wherever between $1.4 billion and $18 billion every year — that’s a simple repair. By closing only one large property tax exemption loophole abused by the ultra-rich, the US authorities may government could save one other $60 billion per 12 months. We should always shut these loopholes – and totally fund the IRS to catch rich tax cheats who suppose they’re above the legislation.
My listing of cuts and loophole closers will save $2 trillion. So the place are Elon Musk, Donald Trump and the DOGE undertaking? Why hand over so rapidly on beating again the defense contractors, medical health insurance giants, and different large corporations which might be ripping off the American individuals? If Musk and Trump have the braveness to chop this waste, I’ve received a plan and 30 particular suggestions to get it finished.
