this post was submitted on 07 Dec 2024
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Summary

Elon Musk and Vivek Ramaswamy, leading Trump’s “Department of Government Efficiency,” are pushing for $2 trillion in federal budget cuts, which could target Social Security and Medicare.

While they claim to streamline government, critics argue billionaires like Musk and Ramaswamy are unaffected by these cuts, which could harm ordinary Americans who depend on these programs.

Despite Trump’s repeated promises to protect Social Security, skepticism remains over whether these cuts will influence Congress, where voter opposition to reducing benefits is strong.

Critics call the department’s influence limited but politically concerning.

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[–] dhork@lemmy.world 77 points 2 weeks ago (9 children)

It's going to happen, but not in as direct a fashion as a budget cut. They will remove it from the Federal budget entirely, by privatizing it. They will sell the privatization as a benefit to the average retiree, by billing it as "removing bloated bureaucracy". They will form a company with all of Trump's broligarchs as owners, and all payments will go through X. This company will magically win the contract to provide this service, without any competitive bid.

None of their promises will be fulfilled, and benefits will be enshittified, just like everything else these people touch. Eventually, the company will go belly-up, but not until after losing all of ~~its~~ our assets in a convenient crypto heist. All the founders will then live suspiciously lavish lifestyles off of their crypto stashes. Eggheads will discover that the owners took the crypto themselves, but President Trump will dismiss that as "fake news" and issue pre-emptive pardons to prevent "Woke FBI agents" from investigating them.

[–] whostosay@lemmy.world 29 points 2 weeks ago (8 children)

I'd really like to know what these fucking morons plan to do when they tank the USD.

[–] Steve@startrek.website 3 points 2 weeks ago

Most of their net worth is in assets, not dollars.

Guess what they do hold in dollars? Debt.

And what happens to debt when the dollar tanks?

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