News View Non-AMP

Elon Musk’s DOGE Plan To Save the U.S. Economy from Recession Amid Bitcoin Turmoil

Published by
Mustafa Mulla

Billionaire founder and U.S government efficiency advisor Elon Musk has proposed a strategic plan to avoid America’s economic fall into recession. With fears of a U.S. recession rising by 43% and government debt ballooning, Musk’s Department of Government Efficiency (DOGE) is choosing to bet on expansion, not reductions.

This approach may sound risky, but here’s the twist, it’s already showing some results.

Let’s find out.

Elon Musk’s Fix: Grow the Economy, Don’t Shrink It

For decades, the go-to solution during economic trouble has been to cut government spending. But now, with the U.S. debt mounting and the U.S. 10-year Treasury yield jumping to 4.5% and recession odds climbing to 43%, Musk argues that this strategy is no longer enough

Musk says improving productivity and expanding GDP are the only real ways to avoid national bankruptcy. He admits that government waste is a serious problem, but believes that strong reforms can still make a difference.

And he’s not alone. Treasury Secretary Scott Bessent, once a firm supporter of spending cuts, now says the U.S. must “grow its way out” of the debt crisis. 

According to him, if the economy grows faster than the debt, it becomes possible to manage both. This change in thinking marks a huge turning point for U.S. economic policy.

DOGE’s Progress So Far

While Musk in the 2024 U.S. election campaign promised DOGE would save $2 trillion from government spending, which is one-third of the entire federal budget. As of May, it has already saved $170 billion, which is 17% of its $1 trillion goal and 8.5% of the “dream target.”

The public can track DOGE’s progress through an official site, which also highlights which sectors are becoming more efficient.

Bitcoin Drops After Trade War Warning

After Donald Trump warned about new trade tariffs on Europe, Bitcoin and other cryptocurrencies quickly dropped. Eventually, Bitcoin has become very sensitive to what’s happening in politics. As these tensions rise, crypto prices are moving fast.

Just recently, Bitcoin hit a record high above $112,000. But after the news, it dropped 2.7% and is now trading around $107,937.

FAQs

What is DOGE and how can the public track its progress?

DOGE is Musk’s Department of Government Efficiency. Its official site tracks savings and efficiency improvements by sector.

How much has DOGE saved so far?

As of May, DOGE claims $170 billion in savings, representing 17% of its $1 trillion goal and 8.5% of its “dream target.”

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

Cardano Hits 111 Million Transactions: Is ADA Gearing Up for Its Next Big Rally?

Cardano has officially surpassed 111 million transactions on its network, marking a major milestone for…

July 5, 2025

Bitcoin Mega Whales Are Buying Again, BTC Price Eyeing $120k?

Something big is happening behind the scenes in the Bitcoin market. While most retail investors…

July 5, 2025

Will BlackRock’s $100M Buy Propel Ethereum to $3,500?

The Ethereum price is once again at the center of attention as a wave of…

July 5, 2025

Bonk & Pepe Gain Momentum While Dogwifhat Drops—Is Memecoin Season Over or Just Beginning?

Memecoin mania is showing signs of rotation: Bonk has surged ~6–7% to ~$0.000018 on strong…

July 5, 2025

Singapore Slams Banks, Crypto as $3B Money Laundering Scandal Ends

In one of the biggest financial enforcement moves in its history, Singapore has fined nine…

July 5, 2025

Satoshi Nakamoto Held Enormous Amounts of XRP, Says David Schwartz

Satoshi-era whale transfers stunned the crypto market yesterday, and now the spotlight has shifted to…

July 5, 2025