Elon Musk DOGE cuts federal spending, shouting "save 20 billion dollars for taxpayers", American Bank slaps in the face: exaggerated

Musk's Department of U.S. Government Efficiency (DOGE), which is committed to cutting federal spending, has claimed to have saved American taxpayers about $20 billion, although Bank of America analysts say DOGE's figures are exaggerated. (Synopsis: Tesme's government shutdown crisis is back!) The federal spending of $600 billion in February is a record, Musk DOGE cut spending is ineffective? (Background supplement: Trump supports Musk: Attacking Tesla is terrorism, buying a Model S White House into a Tesla show) The US Government Efficiency Department (DOGE), led by Marriott Elon Musk, is committed to cutting federal government spending and vigorously rectifying government departments, DOGE issued an announcement on its official website on the 11th that it has saved about $20 billion for U.S. taxpayers by terminating 5,356 contracts. However, Bank of America analysts recently said that DOGE's data on savings for taxpayers by canceling and renegotiating federal contracts "seems to be exaggerated." Bank of America analysis found that the agencies most affected by DOGE were the U.S. Agency for International Development (USAID) and the U.S. Treasury, but these agencies "were among the earliest targets targeted by DOGE," with Defense Department savings modestly increasing by $8.6 million. DOGE Savings Figures Misleading From the perspective of individual companies, General Dynamics' information technology division has cancelled two contracts for the Ministry of Education program. Meanwhile, management consulting firm Booz Allen Hamilton was cut by $8 million in a $10 million grant received at the end of January. Bank of America's team of analysts, led by Mariana Perez Mora, estimated the total DOGE savings at about $18 billion, up from $15.2 billion last week, but the bank also questioned the $18 billion savings in its memo to clients, noting that many recent media reports have raised similar skepticism. Bank of America has previously stated that DOGE's method of calculating savings is mainly to compare the difference between the maximum contract amount and the most recently approved grant amount, but this method can be misleading because "the actual amount of funding for many contracts often does not reach the maximum limit". In addition, Bank of America analysts also found that DOGE had "double counting" when calculating the cancellation of certain contracts and subcontracts, further deepening doubts about the accuracy of its data. The Financial Times previously reported that the latest data from the US Treasury Department showed that despite Musk's efforts to cut government spending, it could not prevent the federal government from increasing spending to a record $603 billion in February, compared with only $296 billion in federal government tax revenue in February, and a budget deficit of $307 billion for the month. This underscores the Trump administration's ongoing difficulties in slashing the size of the government. Related reports Musk: SpaceX starship "flying to Mars at the end of next year" carries Tesla robot Optimus, as early as 2029 manned landing The US Senate passed the "stablecoin bill GENIUS" with a high vote, Musk's X coin issuance is in sight? U.S. stocks don't stop" 5 richest Trump lost $200 billion in wealth after taking office, Musk was the most seriously injured "Musk DOGE cuts federal spending and shouts "save $20 billion for taxpayers", Bank of America slapped in the face: exaggerated" This article was first published in the moving area BlockTempo "Dynamic Trend - The Most Influential Block Chain News Media".