President Trump said Wednesday evening that the newly formed government's Efficiency Bureau could potentially return some of the savings generated through job cuts and other budget curbs to American taxpayers.
“The idea that it will be saved as a result of an initiative recommended by a new division known as Doge is “under consideration.” The potential initiative, he said, is a “new concept” in which his administration is “20% of savings to American citizens” and “20% will pay off their debts.” (He didn't mention what would be done with the other 60% of the money.)
It was not immediately clear whether Trump would pay off consumer debt or currently pay off $36 trillion in national debt, but his comments were saying he had spoken about both. I suggested that it might be. In January before Trump took office, Doge's leading entrepreneur Elon Musk set his cost-cutting expectations at $1 trillion.
Trump provided rare details about potential taxpayer returns, including whether the proposal is feasible or whether Congressional approval is required. A White House spokesman did not immediately respond to requests for comment.
Trump spoke at the International Investment Conference in Miami Beach, Florida, a Saudi Arabian foundation that promotes the kingdom's economic and cultural priorities through various annual events.
The president spoke to the packed auditorium with an audience featuring Musk. Yasir al-Rumayan, governor of Saudi Arabia's Sovereign Western Fund. Princess Reema Bandar Al Saud, the US Ambassador to Saudi Arabia. Gianni Infantino, president of FIFA, the global governing body of soccer.
Trump praised the work Doge is doing, pledging the department to save “billions, hundreds of billions of dollars” of dollars on wasted spending.
He then emphasized the importance of paying off debts.
“If it's a real estate balance sheet, the debt is small, but we still want to pay it back,” he said.
He added: “We don't see it as real estate. It's America.”
