Elon Musk Reports $150 Billion in Projected Government Savings Amid Fraud Investigations
Department of Government Efficiency identifies fraudulent unemployment claims; Musk announces anticipated fiscal savings
At a White House cabinet meeting on April 10, 2025, Elon Musk, head of the Department of Government Efficiency (DOGE), announced an anticipated $150 billion in federal savings for fiscal year 2026.
This projection follows DOGE's investigations into fraudulent unemployment claims and efforts to reduce government waste.
DOGE's audits revealed approximately 9,700 unemployment claims filed by individuals with birthdates up to 15 years in the future, amounting to $69 million in disbursements.
Additional findings included 24,500 claims from individuals aged over 115, totaling $59 million, and 28,000 claims from children aged one to five, resulting in $254 million in payments.
These anomalies suggest systemic weaknesses in state-managed unemployment programs, potentially exacerbated by outdated infrastructure and data-entry errors.
Musk attributed the projected savings to reductions in waste and fraud, asserting that these measures would lead to improved government services.
However, DOGE has faced criticism for service impacts, such as reduced staffing levels affecting Social Security call centers amid increased demand.
In a separate initiative, President Donald Trump unveiled the design of a new '$5 million Trump Card' on April 3, 2025.
Officially named the 'gold card,' this immigration program offers wealthy foreign nationals a pathway to U.S. citizenship in exchange for a $5 million investment.
The card, featuring Trump's likeness, is intended to replace the existing EB-5 visa program, which requires a minimum $800,000 investment and the creation of ten U.S. jobs.
The gold card program has sparked debate over its high cost and the shift in U.S. immigration policy it represents.
This projection follows DOGE's investigations into fraudulent unemployment claims and efforts to reduce government waste.
DOGE's audits revealed approximately 9,700 unemployment claims filed by individuals with birthdates up to 15 years in the future, amounting to $69 million in disbursements.
Additional findings included 24,500 claims from individuals aged over 115, totaling $59 million, and 28,000 claims from children aged one to five, resulting in $254 million in payments.
These anomalies suggest systemic weaknesses in state-managed unemployment programs, potentially exacerbated by outdated infrastructure and data-entry errors.
Musk attributed the projected savings to reductions in waste and fraud, asserting that these measures would lead to improved government services.
However, DOGE has faced criticism for service impacts, such as reduced staffing levels affecting Social Security call centers amid increased demand.
In a separate initiative, President Donald Trump unveiled the design of a new '$5 million Trump Card' on April 3, 2025.
Officially named the 'gold card,' this immigration program offers wealthy foreign nationals a pathway to U.S. citizenship in exchange for a $5 million investment.
The card, featuring Trump's likeness, is intended to replace the existing EB-5 visa program, which requires a minimum $800,000 investment and the creation of ten U.S. jobs.
The gold card program has sparked debate over its high cost and the shift in U.S. immigration policy it represents.
