This is the Weekend Edition of Bloomberg Opinion Today, a roundup of the most popular stories Bloomberg Opinion publishes each week based on web readership. New subscribers can sign up here; follow us on Bluesky, TikTok, Instagram, LinkedIn and Threads. Just before the election last fall, Elon Musk predicted that he could cut $2 trillion from the federal budget. By early January, a couple of weeks before President Donald Trump returned to the White House and appointed Musk head of the newly created not-quite-department dubbed the Department of Government Efficiency, he was calling $2 trillion “the best-case outcome” and saying “we’ve got a good shot” at getting $1 trillion in cuts. In late March, he said DOGE would deliver $1 trillion in deficit reduction by the end of May. By April 10, that was down to savings of $150 billion. Draw a trendline through Musk’s pronouncements so far, and it shows the DOGE savings number going negative on May 21 and becoming a deficit increase of more than $2 trillion on Dec. 1. This is not meant as a serious forecast. But with Musk’s time as a “special government employee” due to end this month, and the Partnership for Public Service estimating that the cost in lost productivity, rehiring of fired workers and other side effects of his chaotic approach will top $135 billion this year, it does seem fair to conclude that the direct annual savings from DOGE’s efforts will be less than $150 billion, which amounts to about 2% of federal spending. Its minimal impact on spending notwithstanding, DOGE has had a huge impact in Washington, with its actions disrupting the federal government in ways that few would have imagined possible before it set to work. What, then, have Musk and DOGE really been trying to do?
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