U.S. Treasury Secretary Benson: Musk's DOGE has saved about $50 billion and may eventually save several percentage points of GDP

avatar
MarsBit
02-19
This article is machine translated
Show original
Here is the English translation, with 'Doge' retained as is: The U.S. Treasury Secretary Yellen stated that Musk's Government Efficiency Department (DOGE) is committed to making the federal government more efficient, and American taxpayers need not worry about the security of their personal data. Yellen said in an interview with Fox News on Tuesday that so far, the DOGE team has identified about $50 billion in savings. "So this is a good start." She added that the cost-cutting efforts could eventually save "a few percentage points of GDP" for us. However, the DOGE team's attempt to access the data of a wide range of taxpayers, including individuals, has raised concerns about privacy issues among Democratic lawmakers. Yellen said American taxpayers "do not need to worry about these things." According to a Bloomberg report last Sunday, a team from DOGE is seeking this data, but has not yet accessed it. Yellen said that an IRS employee "was just looking at an outdated IT system, and that's all they did." Yellen mentioned that the Treasury Department has two employees with "read-only access" to the payment system, meaning they have no ability to make any changes. "There are very strict safeguards for them," she said. Democratic senators have generally criticized Yellen for a "lack of candor" about the DOGE team's work on the U.S. payment system. Last month, the newly formed DOGE was granted access to the Treasury Department's payment system. This led to the sudden resignation of a senior civil servant who tried to block this action. Additionally, attorneys general from 19 states and three unions have also filed lawsuits to prevent DOGE from accessing this sensitive system.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments