Connect with us
[bsa_pro_ad_space id=12]

Business

Elon Musk, DOGE officials reveal ‘astonishing’ government waste, fraud in viral interview

Published

10 minute read

From LifeSiteNews

By Doug Mainwaring

Elon Musk said that ‘the sheer amount of waste and fraud’ in federal agencies, is ‘astonishing’ and that DOGE is cutting ‘$4 billion a day’ in misused taxpayer funds.

In a remarkable Fox News interview, Department of Government Efficiency (DOGE) founder Elon Musk and top officials of the DOGE team offered stunning, often infuriating, insights into how the federal government functions.

The interview, which has garnered well over 10 million online views on X in less than 24 hours, provided one extreme example after another of government mismanagement, excess, waste, and fraud while simultaneously promising a future where the D.C. Leviathan is tamed and restored to its proper, efficient role.

The new Deputy Director of the Office of Management and Budget (OMB), former U.S. House Rep. Dan Bishop, averred that the DOGE A-Team interview was the “most amazing and significant half-hour in TV history.” 

Musk was joined by DOGE team members Steve Davis, Joe Gebbia, Aram Moghaddassi, Brad Smith, Anthony Armstrong, Tom Krause, and Tyler Hassen – all successful businessmen and entrepreneurs in their own rights – to describe the widespread systemic weaknesses and failures at the Internal Revenue Service (IRS), the National Institutes of Health (NIH), the Department of Health and Human Services (HHS), the Social Security Administration (SSA), and more.  

Fox host Bret Baier described the group as “Silicon Valley colliding with government.”

“This is a revolution. And I think it might be the biggest revolution in government since the original revolution,” said Musk during the discussion.  

“But at the end of the day, America’s going to be in much better shape,” he promised.

“America will be solvent. The critical programs that people depend upon will work, and it’s going to be a fantastic future.” 

Musk said that the most stunning thing he’s discovered during the early phases of DOGE is “the sheer amount of waste and fraud in government. It is astonishing. It’s mind-blowing.”

Musk cited the example of a simple 10-question National Park online survey for which the government was charged nearly $1 billion and which in the end served no purpose.

“I think we will accomplish most of the work required to reduce the deficit by a trillion dollars within [130 days],” he predicted. “Our goal is to reduce the waste and fraud by $4 billion a day, every day, seven days a week. And so far, we are succeeding.”

Billionaire Airbnb co-founder Joe Gebbia, is working to digitize the retirement process for government employees, which is currently stuck using 1950s technology, housed in a Pennsylvania cave.

“It’s an injustice to civil servants who are subjected to these processes that are older than the age of half the people watching the show tonight,” said Gebbia. “We really believe that the government can have an Apple store-like experience, beautifully designed, great user experience, modern systems.”  

“The retirement process is all by paper, literally, with people carrying paper and manila envelopes into this gigantic mine,” added Musk, limiting the number of federal employees who can retire to no more than 8,000 per month.

Gebbia expects to have the antiquated system updated and overhauled in a matter of months.  

“The two improvements that we’re trying to make to Social Security are helping people that legitimately get benefits protect them from fraud that they experience every day on a routine basis and also make the experience better,” said DOGE software engineer Aram Moghaddassi.

He offered an amazing statistic: “When you want to change your (direct deposit) bank account, you can call Social Security. We learned 40% of the phone calls that they get are from fraudsters” who are attempting to commandeer retired seniors’ benefit payments.

“What we’re doing will help their benefits,” assured Musk. “As a result of the work of DOGE, legitimate recipients of social security will receive more money, not less money.” 

“There are over 15 million people that are over the age of 120 that are marked as alive in the Social Security system,” said Steve Davis, who has previously worked alongside Musk at SpaceX, the Boring Company, and X

He explained that despite this being discovered by hardworking personnel at the SSA back in 2008, nothing was done. As a result, 15-20 million social security numbers that were clearly fraudulent were just floating around, susceptible to being used for “bad intentions.”

Health care entrepreneur Brad Smith, who has taken charge of auditing HHS and NIH, also cited stunning, troubling statistics displaying the extreme inefficiencies of the nation’s top federal health organizations.

Smith said that at NIH, “Today they have 27 different centers” created by Congress over the years and there are “700 different IT systems,” each using their own IT software.

“They have 27 different CIOs (Chief Information Officers),” added Smith, “so when you think about making great medical discoveries, you have to connect the data.”  

Those discoveries are likely severely hampered by NIH’s communications disconnect.

Anthony Armstrong, a Morgan Stanley banker now working for DOGE at the Office of Personnel Management (OPM) talked about “duplicative functions” and “overstaffing” at government agencies. He said that money is “sloshing out the door.”

As an example, he cited the IRS, which has 1,400 employees whose only job is to provision laptops and cell phones to IRS workers.  

“As an ex-CFO of a big public tech company, really what we’re doing is, we’re applying public company standards to the federal government, and it is alarming how the financial operations and financial management is set up today,” said Tom Krause, CEO of Cloud Software Group.  

He explained that there is virtually no accountability or verification protections when it comes to the Treasury Department disbursing funds to various government agencies.

A 94-year-old grandmother is no longer “going to be robbed by forces like she’s getting robbed today, and the solvency of the federal government will ensure that she continues to receive those social security checks,” added Musk.

“The reason we’re doing this is because if we don’t do it, America is going to go insolvent and go bankrupt, and nobody’s going to get anything,” said Musk.

Tyler Hassen, a former oil executive working at the Interior Department for DOGE ​​alleged that there was no departmental oversight at the Interior Department “whatsoever” under the Biden administration.  

Steve Davis talked about the out-of-control issuance and use of federal credit cards. 

“There are in the federal government around 4.6 million credit cards for around 2.3 to 2.4 million employees. This doesn’t make sense. So, one of the things all of the teams have worked on is we’ve worked for the agencies and said, ‘Do you need all of these credit cards? Are they being used? Can you tell us physically where they are?’” recounted Davis.

“Clearly there should not be more credit cards than there are people,” interjected Musk.

Musk later described how the Small Business Administration (SBA) has given out $300 million in loans to people “under the age of 11.” An additional $300 million in loans has been handed out to people “over the age of 120.”

Musk said that these government loans are clearly “fraudulent.”  

“Terrible things are being done,” he exclaimed. “We’re stopping it.” 

Todayville is a digital media and technology company. We profile unique stories and events in our community. Register and promote your community event for free.

Follow Author

Business

China’s economy takes a hit as factories experience sharp decline in orders following Trump tariffs

Published on

MXM logo MxM News

Quick Hit:

President Trump’s tariffs on Chinese imports are delivering a direct blow to China’s economy, with new data showing factory activity dropping sharply in April. The fallout signals growing pressure on Beijing as it struggles to prop up a slowing economy amid a bruising trade standoff.

Key Details:

  • China’s manufacturing index plunged to 49.0 in April — the steepest monthly decline in over a year.
  • Orders for Chinese exports hit their lowest point since the Covid-19 pandemic, according to official data.
  • U.S. tariffs on Chinese goods have reached 145%, with China retaliating at 125%, intensifying the standoff.

Diving Deeper:

Three weeks into a high-stakes trade war, President Trump’s aggressive tariff strategy is showing early signs of success — at least when it comes to putting economic pressure on America’s chief global rival. A new report from China’s National Bureau of Statistics shows the country’s manufacturing sector suffered its sharpest monthly slowdown in over a year. The cause? A dramatic drop in new export orders from the United States, where tariffs on Chinese-made goods have soared to 145%.

The manufacturing purchasing managers’ index fell to 49.0 in April — a contraction level that underlines just how deeply U.S. tariffs are biting. It’s the first clear sign from China’s own official data that the trade measures imposed by President Trump are starting to weaken the export-reliant Chinese economy. A sub-index measuring new export orders reached its lowest point since the Covid-19 pandemic, and factory employment fell to levels not seen since early 2024.

Despite retaliatory tariffs of 125% on U.S. goods, Beijing appears to be scrambling to shore up its economy. China’s government has unveiled a series of internal stimulus measures to boost consumer spending and stabilize employment. These include pension increases, subsidies, and a new law promising more protection for private businesses — a clear sign that confidence among Chinese entrepreneurs is eroding under Xi Jinping’s increasing centralization of economic power.

President Trump, on the other hand, remains defiant. “China was ripping us off like nobody’s ever ripped us off,” he said Tuesday in an interview, dismissing concerns that his policies would harm American consumers. He predicted Beijing would “eat those tariffs,” a statement that appears more prescient as China’s economic woes grow more apparent.

Still, the impact is not one-sided. Major U.S. companies like UPS and General Motors have warned of job cuts and revised earnings projections, respectively. Consumer confidence has also dipped. Yet the broader strategy from the Trump administration appears to be focused on playing the long game — applying sustained pressure on China to level the playing field for American workers and businesses.

Economists are warning of potential global fallout if the trade dispute lingers. However, Beijing may have more to lose. Analysts at Capital Economics now predict China’s growth will fall well short of its 5% target for the year, citing the strain on exports and weak domestic consumption. Meanwhile, Nomura Securities estimates up to 15.8 million Chinese jobs could be at risk if U.S. exports continue to decline.

Continue Reading

Business

Scott Bessent says U.S., Ukraine “ready to sign” rare earths deal

Published on

MXM logo MxM News

Quick Hit:

During Wednesday’s Cabinet meeting, Treasury Secretary Scott Bessent said the U.S. is prepared to move forward with a minerals agreement with Ukraine. President Trump has framed the deal as a way to recover U.S. aid and establish an American presence to deter Russian threats.

Key Details:

  • Bessent confirmed during a Cabinet meeting that the U.S. is “ready to sign this afternoon,” even as Ukrainian officials introduced last-minute changes to the agreement. “We’re sure that they will reconsider that,” he added during the Cabinet discussion.

  • Ukrainian Economy Minister Yulia Svyrydenko was reportedly in Washington on Wednesday to iron out remaining details with American officials.

  • The deal is expected to outline a rare earth mineral partnership between Washington and Kyiv, with Ukrainian Armed Forces Lt. Denis Yaroslavsky calling it a potential turning point: “The minerals deal is the first step. Ukraine should sign it on an equal basis. Russia is afraid of this deal.”

Diving Deeper:

The United States is poised to sign a long-anticipated rare earth minerals agreement with Ukraine, Treasury Secretary Scott Bessent announced  during a Cabinet meeting on Wednesday. According to Bessent, Ukrainians introduced “last minute changes” late Tuesday night, complicating the final phase of negotiations. Still, he emphasized the U.S. remains prepared to move forward: “We’re sure that they will reconsider that, and we are ready to sign this afternoon.”

As first reported by Ukrainian media and confirmed by multiple Ukrainian officials, Economy Minister Yulia Svyrydenko is in Washington this week for the final stages of negotiations. “We are finalizing the last details with our American colleagues,” Ukrainian Prime Minister Denys Shmyhal told Telemarathon.

The deal follows months of complex talks that nearly collapsed earlier this year. In February, President Trump dispatched top officials, including Bessent, to meet with President Volodymyr Zelensky in Ukraine to hammer out terms. According to officials familiar with the matter, Trump grew frustrated when Kyiv initially refused U.S. conditions. Still, the two sides ultimately reached what Bessent described as an “improved” version of the deal by late February.

The effort nearly fell apart again during Zelensky’s February 28th visit to the White House, where a heated Oval Office exchange between the Ukrainian president, Trump, and Vice President JD Vance led to Zelensky being removed from the building and the deal left unsigned.

Despite those setbacks, the deal appears to be back on track. While no public text of the agreement has been released, the framework is expected to center on U.S.-Ukraine cooperation in extracting rare earth minerals—resources vital to modern manufacturing, electronics, and defense technologies.

President Trump has publicly defended the arrangement as a strategic and financial win for the United States. “We want something for our efforts beyond what you would think would be acceptable, and we said, ‘rare earth, they’re very good,’” he said during the Cabinet meeting. “It’s also good for them, because you’ll have an American presence at the site and the American presence will keep a lot of bad actors out of the country—or certainly out of the area where we’re doing the digging.”

Trump has emphasized that the deal would serve as a form of “security guarantee” for Ukraine, providing a stabilizing American footprint amid ongoing Russian aggression. He framed it as a tangible return on the billions in U.S. aid sent to Kyiv since the start of Russia’s 2022 invasion.

Continue Reading

Trending

X