Elon Musk explains how he thinks that DOGE cost reduction efforts will help reduce inflation over time.
Elon Musk said this weekend that efforts to reduce the Ministry of Government Efficiency (DOGE) could limit inflation.
Sunday, Musk spoke during an event of the town hall in the Wisconsin before a key election of the Supreme Court of the State. In his remarks, he presented Doge’s efforts and said he considered spending reductions as helping to slow down the rate of prices.
“At least for a period of time, we will make sure that your taxpayer’s money is spent at least 15% of better,” said Musk. “I think that is a reasonable goal. It is a rational objective. It is a reasonable objective.”
“And the net profit, I must say that if we have the combination of an increase of $ 1 billion of economic production and a drop of 1 billion of dollars of the budget deficit, then the result should be that there is no inflation or very little inflation,” added Musk.
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Elon Musk explained how he thinks that Doge’s efforts will help slow inflation. (Win McNamee / Getty images)
Musk continued by saying that, since Doge’s efforts will reduce inflation, consumers should see the prices of key goods as being relatively stable until the end of next year.
“So, at the end of next year, the prices will be – at the grocery store – will be very similar to what they are right now. This means that, you know, the standard of living will probably be higher, a little higher,” he explained. “While we have had creeping inflation to date, and inflation is only a pernicious tax that has been used by governments through history.”
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The main advisor of the White House, Elon Musk, directed the Doge effort. (Samuel Corum / Getty Images)
The leader of the billionaire DOGE added that inflation is caused by government policies and functions as an indirect tax on consumers.
“It is very tempting that governments use inflation as a tax because it is indirect,” said Musk. “People see prices increase to grocery store or for goods and services or for houses, and they tend to like the store. But it is not the store, it is the government. The government has reduced the value of money and, therefore, prices are increasing.”
Musk also discussed how he considers Doge’s efforts to move government workers to the roles of the private sector, which contributes to increasing economic production and, in turn, to stimulate the standard of living.
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“By reducing waste and fraud, it will essentially make the economy more efficient and transfer the resources of government to the private sector. And this will increase the production of goods and services, and therefore the average standard of living will therefore increase,” Musk said.
