In recent weeks, Elon Musk withdrew from public life. The reason is obvious: work for Trump's administration was increasingly harming the interests of the richest man in the world. Musk was to organize the United States public finances for Donald Trump. Thus, he became the face of unpopular actions, such as mass administration exemptions.
At the end of May, Musk will have to give way to the head of the Government Efficiency Department. The owner of Tesla also wants to limit his political activity. On Tuesday, May 20 he announced that in the future he would spend “much less” on political donations. But what does the balance sheet look like after four months of Doge?
170 billion instead of 2 trillions
On its website, the Doge presents a review of all savings funds. According to its own data, the Department has saved $ 170 billion so far. (PLN 638 billion). According to Doge, it is over $ 1,000. (PLN 3751) for every American taxpayer. However, taking into account the annual expenses of the state, which in 2024 amounted to 6.75 trillion. (25 trillion PLN 317 billion) and debt of 36 trillion dollars (PLN 135 trillion), these savings are a drop in the sea of needs. The deficit itself last year amounted to $ 1.83 trillion. (6 trillion PLN 864 billion).
Doge did not meet his announcements. In October, during the election campaign, Musk promised that he would save you “at least $ 2 trillion (7 trillion PLN 500 billion)”. Later, he corrected this amount up to 1 trillion (3 trillion PLN 750 billion), which he intended to save “mostly” until the end of May. Musk is far from achieving both goals.
Continuation of the material under the video
Recently, the saving rate has slowed down. In the period from April 23 to May 11, when the page was updated for the last time, only $ 10 billion was saved. (PLN 37 billion 506 million). Studies of various media have also shown that the data provided by Doge is partly overstated.
In some cases, these amounts relate to the expected expenses for several years, and not to direct savings in annual expenses – BBC said in April. In turn, “The Economist” informed in February that at the beginning of Trump's term of office, public expenditure was even higher than in the same period of the previous year during the rule of Joe Biden.
The deficit is still growing
Although Musk saved billions of the tax office, in the light of ambitious goals he still failed. Doge will continue working after his departure. And the billionaire himself will continue to advise the US government, even without an official position. Contrary to the expectations of many observers, there were no relationship between Trump and Musk.
Jim Watson / AFP / AFP
Elon Musk during a meeting of the office at the White House in Washington, April 30, 2025.
However, it should not be assumed that Doge or Musk will ever be able to fulfill their promises. The US deficit this year will probably increase this year: According to the estimates of the budget office of the Congress of April 2025, in the first seven months of the budget year 2025 it amounted to $ 1.1 trillion. (4 trillion PLN 126 billion). This amount is $ 196 billion. (PLN 731 billion) higher than the deficit in the same period last year.
The problem is that large expenditure items cannot be limited. In 2024, two -thirds of the state budget were allocated to social expenditure and health insurance.
Other large items are interest on public debt of $ 882 billion. (3 trillion PLN 308 billion) and defense expenses in the amount of $ 874 billion. (3 trillion PLN 278 billion), which Republicans do not want to smoke anyway.
For comparison: the United States Agency for International Development (USAID), which Musk ordered to close, cost around $ 45 billion. (PLN 169 billion) a year.
I’m Ashley Davis as an editor, I’m committed to upholding the highest standards of integrity and accuracy in every piece we publish. My work is driven by curiosity, a passion for truth, and a belief that journalism plays a crucial role in shaping public discourse. I strive to tell stories that not only inform but also inspire action and conversation.
