Comment by russdill
2 days ago
It's already been a thing for quite some time:
https://en.wikipedia.org/wiki/Office_of_Inspector_General_(U...
They are independent of the things they review, they find inefficiency, overspending, fraud, and embezzlement. They make their reports public and work with transparency. There are also other similar departments like CIGIE. There have been very substantial results.
What DOGE is doing is not finding inefficiency. They are doing two basic things. 1) Completely eliminating programs they don't think the US should be spending money on. And 2) Reducing headcount. Both of these actions may reduce costs, but may end up costing the US more money in the long term.
We are 35 trillion dollars in debt - we are broke. We have go cut costs if we want to avoid catastrophe in the medium term.
Government debt is a result of government spending into the real economy. It is where we get the taxpayer dollars that we spend, some of which go back to the government itself. A government without debt is also an economy without money.
Governments with central banks can mismanage their currency, but they can't run out of it.
They won't run out of currency, but the people that use it will run out of faith.
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There's a body of government explicitly built to do exactly that and given exactly that power in the constitution. It's called Congress.
The Executive can also do this.
If we are broke then why do people buy our debt? It's obviously more complex than you make it sound.
because for now there’s a reasonable chance it will get paid off. what happens when the house of cards comes down?
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