Government Spending

Layoffs increased by nearly 50% in May compared with last year, as DOGE was cited as the leading cause of 284,044 job cuts in 2025 so far, representing about 40% of cuts.

The U.S. national debt is climbing at a rapid pace, on track to double over the next three decades amid a rush of spending by President Biden and Congress.

Elon Musk criticized the Republican tax cut bill as a "disgusting abomination" due to its effect on federal budget deficits, and GOP senators consider revising the bill.

JPMorgan CEO Jamie Dimon highlighted the risks of rising U.S. debt and deficits, and he called for reforms to ensure economic growth and program sustainability.

Treasury Secretary Scott Bessent said the U.S. government will never default on its debt obligations as Congress faces a debt limit deadline in the wake of a credit downgrade.

Tesla's stock just wrapped its best month since November 2024, as investors embrace Elon Musk's return to the EV maker after rocky DOGE stint.

As Elon Musk the White House and ends his time leading DOGE, there are several moments and major moves that will go down in U.S. history.

President Trump praises Elon Musk for his role in the Department of Government Efficiency, highlighting $175 billion in savings and Musk's continued advisory role.

Elon Musk said Saturday that he plans to focus on critical tech at X, Tesla and SpaceX, while scaling back his role with DOGE.

A new report by Goldman Sachs finds that while larger tax cuts will yield a bigger growth boost, the drag on economic growth from tariffs will offset that gain.

Billionaire Elon Musk said in an interview that he plans to remain as the leader of Tesla for the next five years amid his involvement with DOGE and other business ventures.

Morgan Stanley's chief market strategist said in an investor note that a stock market decline related to the Moody's downgrade could give investors a buying opportunity.

Treasury Secretary Scott Bessent downplayed the U.S. credit downgrade as a "lagging indicator" of economic and fiscal conditions, after Moody's took the U.S. off its top tier.

Moody's Ratings downgraded the U.S. credit rating by one notch, from a pristine Aaa to Aa1, citing persistent and rising government debt as causing the move.

The General Services Administration is taking a longer-term approach with its government overhaul and is looking to cap certain indirect spending.

As President Donald Trump celebrated his 100th day in office last week, Elon Musk's Department of Government Efficiency announced it had cut $160 billion in waste, fraud and abuse in the federal government.

The Trump administration is releasing its "skinny" budget blueprint outlining its fiscal priorities, which will include a focus on boosting the defense budget.

Billionaire Elon Musk said the Department of Government Efficiency needs to examine the Federal Reserve's spending amid its cost-cutting push across the federal government.

Tesla generated $13.97 billion in automotive revenue in the first three months of 2025, marking a drop of nearly 20% from the same quarter last year.

Allianz economists are forecasting that the unemployment will rise to 5% by early 2026, though mass layoffs aren't expected as inflation raises consumer prices due to Trump's tariffs.