FOX Business host Charles Payne said Monday that the Department of Government Efficiency (DOGE) could cause a short-term hit to the stock market as companies selling a “$500 hammer” to the Pentagon will “take a hit.” I expected it to be high.
President-elect Donald Trump on November 12 appointed Tesla CEO Elon Musk and former Republican presidential candidate Vivek Ramaswamy as co-chairs of the Department of Government Efficiency (DOGE). After discussing the committee’s plans, Payne said the committee “doesn’t have any sacred cows.” Hemmer and Dana Perino target federal spending and policy on the military and health care industries with former White House press secretary Kayleigh McEnany and “America’s Newsroom” co-host Bill. (Related article: ‘Accountability is here’: Joni Ernst sends Musk ideas for ‘$1 trillion’ worth of government spending)
“This is how I think about the next Trump 2.0. I don’t necessarily think about Trump 2.0. We’re going to have it all in the next four years, but we’re going to get everything in the United States for at least 30 years. We’re going to set ourselves up to create prosperity, and we’re a big part of this prosperity. I mean, look where they’re going. There’s no sacred cow,” Payne said. “Look what they’re after.”
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“On Friday, we got a bill going after pharmacy benefit managers, right? The CVS stock is cratering. Eisenhower warned us about the military-industrial complex. Well, now we have the health-care industrial complex. We have a medical-industrial complex, a military-industrial complex,” Payne continued. “There are hundreds of billions of dollars floating around, what’s going to happen? This isn’t necessarily good news initially for the stock market. You know, you take all this money and put $500 on the hammer and $1,000 on the toilet seat. Some companies that charge more may take a hit, but ultimately that means it’s better for the country and ultimately the stock market.”
Republican Sen. Joni Ernst of Iowa sent a seven-page letter to Mr. Musk and Mr. Ramaswamy in November, asking for more funding for coronavirus relief, from addressing unused space in buildings owned or leased by the federal government. Proposed cuts total more than $2 trillion, down to the suspension of uncommitted spending. .
In April, Florida Republican Congressman Michael Walz faced Secretary of the Air Force Frank Kendall on how the Air Force paid $90,000 for a bag of Bush. The Pentagon also paid $14,000 for a 3D-printed toilet seat and $1,280 for a cup, according to one report. release From Republican Sen. Charles Grassley of Iowa.
In December, Ernst released a 60-page report covering the findings of his research on telework since August 2023, when he sent a letter to 24 government agencies asking them to review the issues associated with telecommuting. It was announced on the 5th.
President Trump reportedly plans to privatize the U.S. Postal Service, which lost $9.5 billion in fiscal year 2024. According to to the Washington Post.
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