Musk DOGE saves 50 billion yuan! U.S. Treasury Secretary Bessent: expected to save nearly 8,000 billion yuan, cooperation with Ukraine becomes the focus

US Treasury Secretary Scott Bessent said in an interview on 2/18 that the government efficiency department led by (Elon Musk) has successfully saved the US government about $50 billion, and may even save a significant percentage of the US GDP in the future. In addition, Bessent also emphasized that while DOGE is reviewing government spending, American taxpayers do not need to worry about personal data security. At the same time, Ukrainian President Zelenskiy (Zelenskiy) may sign an economic cooperation (protocol with the United States in exchange for US military and economic support.

DOGE has saved $50 billion and is expected to save more in the future

According to Bloomberg, Bessent revealed that the DOGE team has identified potential savings of about $50 billion to date, and this is just the beginning, with the possibility of saving "several percentage points equivalent to GDP" in the future.

According to the report of the US Department of Commerce's )BEA( on 1/30, the US )GDP( in the fourth quarter of 2024 increased at an annual rate of 2.3%, with a full-year growth rate of 2.8%. This means that if the DOGE team can save a proportion equivalent to several percentage points of GDP, assuming it is 2% to 3%, it would be approximately $584 billion to $876 billion.

However, the review action of DOGE has also sparked privacy controversies, especially when the department attempts to access taxpayers' personal and financial information, triggering doubts and opposition from Democratic Party members. However, Bessent emphasized that the public does not need to worry about this issue because the DOGE team has not actually obtained this data yet.

Limited data access, IRS just taking a look at the old system

According to Bessent, the DOGE team currently does not directly access the US Treasury's payment system. They only allow two Treasury officials to view relevant information with 'read-only permission' and cannot make any changes. He also emphasized that the IRS currently only has one person viewing outdated IT systems and is not directly involved in taxpayer information.

Nevertheless, Democratic senators in the Senate still criticize Bessent for lacking integrity and being unclear about the actual implementation of DOGE. In addition, DOGE's access to the Treasury Department's payment system has also faced lawsuits from attorneys general in 19 states and 3 labor unions, and attempts to block it.

The United States is planning to sign an economic cooperation protocol with Ukraine in exchange for resources.

In addition to financial issues, Bessent also revealed that the United States is discussing an economic cooperation protocol with Ukraine in exchange for US military and economic support. He said that President )Donald Trump( hopes to make the cooperation between Ukraine and the United States closer through this cooperation, and at the same time, let American taxpayers see that their assistance can bring returns.

The protocol may involve the opening of key mineral resources in Ukraine and a commitment to purchase American energy exports in exchange for military and economic assistance. The U.S. government hopes that through this protocol, Trump will have a stronger hand in negotiations with Russian President Putin )Putin(.

Trump wants to remove a penny to streamline fiscal spending

When asked whether the United States will stop minting new one-cent coins )Penny(, Bessent said: 'The President hopes to eliminate the penny, which is part of cost-saving measures.' And emphasized the imminent implementation of this plan.

This policy is consistent with the direction of "streamlining fiscal expenditures" promoted by the Trump administration. The United States has discussed several times in the past whether to eliminate the one-cent coin that costs more than its actual value, and now this policy is about to become a reality.

)DOGE will audit the US gold reserves? Never audited in 50 years, senators request Musk to intervene in the investigation(

This article Musk DOGE saves 50 billion yuan! US Treasury Secretary Bessent: Expected to save nearly 800 billion yuan, Ukraine cooperation becomes the focus first appeared in Chain News ABMedia.