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DOGE’s Financial Dynamics: Savings vs. Taxpayer Costs

by News Editor

April 26, 2025

As part of Elon Musk’s initiative, the Department of Government Efficiency (DOGE) claims to have saved $160 billion by reducing wasteful government spending. However, an analysis highlights that these savings might come at a hefty price of $135 billion to taxpayers, according to a nonpartisan group.

The Financial Breakdown

The analysis by the Partnership for Public Service (PSP) points to costs from furloughing federal employees, re-hiring, and inefficiencies. They calculate this using the $270 billion federal workforce compensation, excluding legal defense costs and IRS staff reductions, potentially impacting $323 billion in future tax revenue.

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Understanding the Implications

DOGE’s encouragement of early resignation has left employees benefiting from full pay without work. Mistakes in firing key roles, like bird flu experts, have led agencies to backtrack. The productivity drop due to new bureaucratic demands is another cost dimension. Max Stier of PSP commented on the stark contrast between stated goals and visible outcomes.

Broader Economic Impacts

Potential long-term impacts could touch sectors like health research, forecasting a $16 billion yearly economic downturn and loss of 68,000 jobs, echoed by academic analyses. DOGE must navigate between its ambitious $2 trillion savings target, a figure that treads on core programs like Social Security.

Despite criticism, DOGE maintains a public record of alleged savings on their “wall of receipts”, though scrutiny has questioned some claims. This context aligns with Tesla’s challenges, directly affecting Musk’s focus on DOGE.

Musk’s Role and Future Prospects

Elon Musk plans to scale back his DOGE involvement, following Tesla’s profit dip. However, he remains dedicated to reducing government waste, underpinning the president’s mission.

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Cyprus Government Moves to Cut Electricity Prices

by THEFUTURE.TEAM

May 13, 2025

According to the government spokesman Konstantinos Letymbiotis, the Electricity Authority of Cyprus (EAC) and the energy regulator are set to meet this week to discuss a formula to lower the price of electricity.

This development comes from President Nikos Christodoulides’ remarks over the weekend, where he urged the EAC not to increase electricity rates. Christodoulides confirmed that he had a meeting with the EAC, asking them not to impose any increases at this juncture.

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The government spokesman emphasized that the current administration is committed to bringing down the price of electricity in any way possible. Letymbiotis noted that the state-run power utility and the regulator would make their own assessments based on the wider direction of the government regarding reductions in the coming time period.

It is worth noting that Cypriots pay the second-highest rates for electricity in Europe when adjusted for spending power, according to Eurostat data released last week. Only consumers in the Czech Republic paid more for their household energy bills than those in Cyprus.