{"id":100572,"date":"2025-02-21T02:01:46","date_gmt":"2025-02-21T02:01:46","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/finance\/elon-musk-sets-up-clash-with-republican-deficit-hawks-over-doge-dividend-cheques\/"},"modified":"2025-02-21T02:01:46","modified_gmt":"2025-02-21T02:01:46","slug":"elon-musk-sets-up-clash-with-republican-deficit-hawks-over-doge-dividend-cheques","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=100572","title":{"rendered":"Elon Musk sets up clash with Republican deficit hawks over \u2018Doge dividend cheques\u2019"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description\">Your guide to what the 2024 US election means for Washington and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=2a1b5dce-c35d-4006-8ce0-530052abb787&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Elon Musk has said US President Donald Trump backs his bid to distribute savings from a government cost-cutting drive directly to citizens, setting up a potential showdown with Republican deficit hawks.<\/p>\n<p>\u201cI talked to the president and he is supportive of [the idea],\u201d <a href=\"https:\/\/www.ft.com\/stream\/fdf71598-69ee-4801-a704-df53f01ef286\" data-trackable=\"link\">Musk<\/a>, who is the de facto leader of the so-called Department of Government Efficiency (Doge), told the Conservative Political Action Conference on Thursday.<\/p>\n<p>\u201cIt sounds like that is something we are going to do.\u201d<\/p>\n<p>This week Musk seized on the idea of sending \u201cDoge dividend cheques\u201d to Americans, floated on social media by James Fishback, an investor and early adviser to the plan.\u00a0<\/p>\n<p>Fishback had suggested that households could receive $5,000 each if Doge achieved its aim of slashing $2tn in <a href=\"https:\/\/www.ft.com\/us-budget\" data-trackable=\"link\">government spending<\/a>, a goal even Musk felt might be too ambitious.\u00a0<\/p>\n<p>Doge, which has rampaged through government agencies, cancelling hundreds of contracts and suspending tens of thousands of federal workers, says it has already made $55bn in savings, although that number has been disputed by several independent analyses.<\/p>\n<p>Trump on Wednesday said he was considering sending \u201c20 per cent of the Doge savings to American citizens\u201d and using a further fifth to pay down the national debt. He said the move might encourage Americans to come forward with examples of government fraud and waste.<\/p>\n<p>But US House Speaker Mike Johnson \u2014 a Trump ally who was also speaking at CPAC \u2014 said the idea was contrary to Republican values.\u00a0\u00a0<\/p>\n<p>\u201cPolitically that would be great for us, you send everybody a cheque,\u201d Johnson said. \u201cBut if you think about our core principles, fiscal responsibility is what we do as conservatives, that is our brand\u2009.\u2009.\u2009.\u2009and we have a $36tn federal debt, we have a giant deficit.<\/p>\n<p>\u201cI think we need to pay down the credit card, right?\u201d Johnson added.<\/p>\n<p>In an interview on CNBC, Florida\u2019s chief financial officer Jimmy Patronis, a staunch Trump ally who is running for US Congress, also opposed Doge dividend distributions. \u201cIf it\u2019s a $5,000 cheque, I\u2019ve got some heartburn,\u201d he said.<\/p>\n<aside aria-labelledby=\"aside-label\" class=\"n-content-recommended--single-story n-content-recommended--inset\" data-component=\"recommended\">\n<p class=\"n-content-recommended__title\">Recommended<\/p>\n<div class=\"o-teaser o-teaser--article o-teaser--small o-teaser--stacked o-teaser--has-image o-teaser--opinion js-teaser\" data-id=\"9ac3fc3b-2a95-40e0-ad73-03263fde67f7\">\n<div class=\"o-teaser__image-container js-teaser-image-container\"><a href=\"https:\/\/www.ft.com\/content\/9ac3fc3b-2a95-40e0-ad73-03263fde67f7\" data-trackable=\"image-link\" tabindex=\"-1\" aria-hidden=\"true\"><\/p>\n<div class=\"o-teaser__image-placeholder\" style=\"aspect-ratio:2146\/1207\"><img decoding=\"async\" class=\"o-teaser__image\" src=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/https%3A%2F%2Fwww.ft.com%2F__origami%2Fservice%2Fimage%2Fv2%2Fimages%2Fraw%2Fhttps%253A%252F%252Fd1e00ek4ebabms.cloudfront.net%252Fproduction%252F3c820063-34f4-47b6-b130-8bc6a0fa9d55.jpg%3Fsource%3Dnext-article%26fit%3Dscale-down%26quality%3Dhighest%26width%3D700%26dpr%3D1?source=next&amp;fit=scale-down&amp;dpr=2&amp;width=240\" alt=\"Elon Musk meets Indian Prime Minister Narendra Modi in a room with two women and three young children\"\/><\/div>\n<p><\/a><\/div>\n<\/div>\n<\/aside>\n<p>Republicans have long blamed the Biden administration\u2019s $1.9tn Covid-era stimulus cheques for stoking inflation and ran television ads with the claim ahead of last November\u2019s presidential election.<\/p>\n<p>But at a White House briefing on Thursday, Kevin Hassett, Trump\u2019s National Economic Council director, played down the prospect of Doge dividend cheques having a similar effect.<\/p>\n<p>\u201cIf we don\u2019t spend government money and we give it back to people, then if they spend it all, you\u2019re even,\u201d Hassett said.\u00a0\u201cBut they\u2019re probably going to save a lot of it, in which case you\u2019re reducing inflation.\u201d<\/p>\n<p>Musk seemed to relish the political salience of such cheques. <\/p>\n<p>\u201cIt is money that is taken away from things that are destructive to the country and from organisations that hate you, to you,\u201d he told the CPAC crowd. \u201cThat\u2019s awesome\u2009.\u2009.\u2009.\u2009that is the spoils of battle.\u201d<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Elon Musk has said US President Donald Trump backs his bid to distribute savings from a government cost-cutting drive directly to citizens, setting up a potential showdown with Republican deficit hawks. \u201cI talked [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":100574,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93],"tags":[46805,26550,11451,10976,11337,18923,46804,4971,20835,813],"dealstore":[],"offerexpiration":[],"class_list":["post-100572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-cheques","tag-clash","tag-deficit","tag-dividend","tag-doge","tag-elon","tag-hawks","tag-musk","tag-republican","tag-sets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - 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