Trump will distribute $ 400 billion among the American people! Elon Musk has been appointed to save money from government loopholes

New Delhi: US President Donald Trump has said that his administration is considering distributing 20% ​​of the remaining money from the Department of Government Efficiency to the American people. Apart from this, the other 20 percent of the money will be allocated to reduce the government loan.

In fact, Trump has entrusted the responsibility of DOGE to Elon Musk, who is constantly trying to save money from government loopholes. Addressing a meeting of global financiers and technology executives organized by Saudi Arabia’s sovereign wealth fund in Miami, Trump described the idea as a “new concept”. Trump’s statement

Trump said, “We are considering a new concept in which 20 percent of DOGE savings will be given to American citizens and 20 percent will be spent on repaying loans, because the figures are unbelievable. Many billions, hundreds of billions are being saved … so we are thinking of giving 20 percent back to the American people.”

This idea came from businessman James Fishback, who shared a four-page figure on X on Tuesday. In which a “DOGE dividend” was proposed. Musk responded to this by saying, “I will talk to the President about this.”

Trump will distribute 400 billion dollars to the people!

This figure of Fishback proposes to allocate 20 percent of DOGE savings, i.e. an estimated 400 billion US dollars, so that after DOGE expires in July 2026, checks of 5,000 US dollars can be distributed to all tax-paying families. This estimated figure is based on DOGE reaching US$2 trillion in savings, which Musk is calling a “best outcome”, with its first target being US$1 trillion. Trump’s statement comes after DOGE claimed that it has saved billions of dollars since Trump took office on January 20. Under Musk’s leadership, the department has aggressively cut government contracts, eliminated government jobs and sold government assets as part of a broad cost-cutting effort.

Trump is cutting everything from jobs to contracts

According to DOGE, these steps have resulted in savings of US$55 billion. However, the agency acknowledged that the itemized figures for contract cancellations and contract terminations are just a fraction of that total. The department said it will continue to release data to substantiate its savings claims.

Despite DOGE’s claims, doubts remain about its alleged financial impact. Reuters analyzed partial data published by the agency and found that most of the savings identified came from eliminating relatively small contracts, including contracts for computer systems and workforce training.

So far, the initiative has cut government spending by US$8.5 billion, with individual contract cancellations averaging about US$7.7 million. However, the broader claim of US$55 billion in savings has not yet been fully accounted for, raising questions about how the remaining amount was calculated.

This was said about India

The cost-cutting initiative has not been untouched by controversy. Since its launch, DOGE has made radical changes to the federal workforce, laid off thousands of employees and closed major programs.

Earlier, Trump, referring to India after signing the executive orders on Tuesday, said, “Why are we giving India US$21 million? They have too much money. They are one of the highest taxed countries in the world in our case.