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ibstelly.bsky.social
OpieWan
@ibstelly.bsky.social
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donmoyn.bsky.social
Some really basic math.
Cutting 75% of federal employees would absolutely gut govt capacity, and save about $200 billion per year.

For perspective: That is 10% of Musk's proposed savings. And a lot less than simply letting Trump's tax cuts expire.
donmoynihan.substack.com/p/some-basic...
The federal government spends about $271 billion each year on personnel costs. Lets assume we go with Ramaswamy’s illegal and irresponsible proposal to cut 75% of employees. That saves you $200 billion per year. That would be about 10% of Musk’s proposed $2 trillion cuts, and a much smaller proportion of overall annual federal spending of $6.75 trillion. Just to give another point of comparison, the 10 year costs of extending Trump’s 2017 tax cuts will be between $4 to $5 trillion over the next decade, with more than 40% of those tax cuts going to households earning more than $400,000 per year. In other words, the cost of Trump’s tax cuts are significantly higher than federal personnel costs. Just allowing the expiration of tax cuts on the highest earners generates similar savings as cutting 75% of federal employees. And, you still get to have a functional government! Or you can follow Ramaswamy’s goal of dramatically gutting the government, without meaningfully altering the deficit.
November 16, 2024 at 6:53 PM