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Comment 1: Likely Irreversible Nose Dive in US Economy

Nov 28

The Editor has had a front row seat on the Federal appropriation process for sixty years. One observation that prevails is that those elected officials who sponsor spending programs have a very high survival rate whereas those elected officials who sponsor spending reduction programs have a very low survival rate. The aforementioned scenario has governed the federal appropriation process for such a long period of time that its unlikely that any attempt to control spending will survive.

The showdown on the continued increase in the deficit will likely occur in the mid 2030 decade at which point the US economy will begin an irreversible nose dive.

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Tesla CEO Elon Musk Warns U.S. Bankruptcy Is Coming

Nov 25

Tesla CEO Elon Musk Warns U.S. ‘Bankruptcy’ Is Coming ‘Super Fast’ Without A

Dogecoin Inspired ‘Fix’
Billy Bambrough
Senior Contributor
Forbes

Tesla billionaire Elon Musk, after surprising the market with a crypto endorsement earlier this month, has continued his campaign to rein in the the spiraling $35 trillion U.S. spending problem.

Musk, now a close advisor to U.S. president-elect Donald Trump, has called for the appointment of some of the most bullish bitcoin and crypto investors to Trump’s cabinet.
Now, after a series of warnings the U.S. could be teetering on the verge of bankruptcy, Musk has predicted it could happen “super fast”—joking he will “fix” it with a “department named after a meme coin.”

Tesla billionaire Elon Musk has repeatedly warned the U.S. could collapse into “bankruptcy,”
“America is currently headed for bankruptcy super fast,” Musk posted to X, the social media platform he bought and rebranded from Twitter.

Musk was responding to a Doge Department of Government Efficiency X post that warned “the U.S. Government spent $6.16. trillion while only bringing in $4.47 trillion” in 2023. “This trend must be reversed, and we must balance the budget,” the Doge account posted.
U.S. national debt has skyrocketed in recent years, crossing the $34 trillion mark at the beginning of 2024, largely due to Covid and lockdown stimulus measures that sent inflation spiraling out of control and forced the Federal Reserve to hike interest rates at a historical clip.

Musk later responded “literally,” alongside a laughing emoji to a tongue-in-cheek X post that depicted Musk telling Trump: “We’re going to fix America with a department named after a meme coin.”

Musk’s campaign against excessive U.S. spending has resulted in the creation of the Doge Department Of Government Efficiency, which Musk has said he believes could strip $2 trillion from U.S. spending.

The Doge department is a nod to the shiba inu doge meme that’s also linked to the dogecoin cryptocurrency, named by Elon Musk as his “favorite” cryptocurrency and accepted as payment by his Tesla car.

The dogecoin price has rocketed higher following Donald Trump’s election, with Tesla chief executive … [+]

Doge’s association with the dogecoin bitcoin rival has caused the dogecoin price to more than triple over the last month, with billionaire Mark Cuban joking Musk could put dogecoin in the U.S. Treasury.

Tesla continues to hold around 10,000 bitcoin—sometimes called digital gold—worth almost $800 million on its balance sheet.

Earlier this year, T.rump floated the idea he could use bitcoin to “pay off our $35 trillion—hand them a little crypto check, right? We’ll hand them a little bitcoin and wipe out our $35 trillion,” he said.

In July, Trump promised to create a “strategic national bitcoin reserve” and predicted bitcoin could eclipse gold’s $16 trillion market capitalization during an appearance at the Bitcoin 2024 conference.

Editor’s Note

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DOGE Via OIRA

Nov 23

A series devoted to standout daily news articles on DOGE.

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Editor’s Note

Nov 23

It should be noted that those working on DOGE might benefit from a knowledge of the following observations which lead to the establishment of the Office of Information and Regulatory Affairs (OIRA) in the White House Office of Management and Budget:

The incoming Administration is proposing a wide range of changes dealing with the operation of federal agencies, a number of which have sparked inflammatory debates. In the long run the issue addressed by DOGE is one of the most critical for the US survival as an economic entity as was the case with the establishment of centralized regulatory review.

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DOGE: Initial Concepts- Musk(WSJ)

Nov 21

Elon Musk and Vivek Ramaswamy: The DOGE Plan to Reform Government

Following the Supreme Court’s guidance, we’ll reverse a decades long executive power grab.

By

Elon Musk

and

Vivek Ramaswamy

Nov. 20, 2024 12:33 pm ET

Our nation was founded on the basic idea that the people we elect run the government. That isn’t how America functions today. Most legal edicts aren’t laws enacted by Congress but “rules and regulations” promulgated by unelected bureaucrats—tens of thousands of them each year. Most government enforcement decisions and discretionary expenditures aren’t made by the democratically elected president or even his political appointees but by millions of unelected, unappointed civil servants within government agencies who view themselves as immune from firing thanks to civil-service protections.

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