Viewpoints
Opinion

The United States Needs a Spending Chainsaw

The United States Needs a Spending Chainsaw
U.S. investor and hedge fund manager Scott Bessent delivers his opening statement during a Senate Finance Committee hearing on his nomination to be secretary of the Treasury, on Capitol Hill on Jan. 16, 2025. Andrew Caballera-Reynolds/AFP via Getty Images
Daniel Lacalle
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Commentary

The latest figures published by the Department of Government Efficiency (DOGE) are staggering: $75 billion saved in two weeks. Some of the items they have slashed are astonishing, including payments to transgender musicals in Ireland; diversity, equity, and inclusion in Serbia; and decolonization of curriculum vitae. This is a two-week result, so it should be applauded. However, there is a lot more that needs to be done.

Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”