Trade Haven Hub - Investing and Stock News
  • Investment Tips
  • Trade Tips
  • Crypto News
  • Economy News
  • Stock Market
  • Investment Tips
  • Trade Tips
  • Crypto News
  • Economy News
  • Stock Market
No Result
View All Result
Trade Haven Hub - Investing and Stock News
No Result
View All Result
Home Economy News

Trump’s DOGE savings dwarfed by Medicare, Social Security spending, watchdog finds

admin by admin
October 2, 2025
in Economy News
0
Trump’s DOGE savings dwarfed by Medicare, Social Security spending, watchdog finds
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

A conservative watchdog says Trump’s much-hyped DOGE cuts are a drop in the bucket compared to America’s ballooning entitlement spending.

OpenTheBooks, a conservative fiscal watchdog group, released a report on Thursday showing that mandatory spending for Medicare and Social Security vastly outweigh any cuts to discretionary spending ushered in by the Trump administration.

The report was released as lawmakers clash over government funding, with the fight centered on Democratic plans to expand Obamacare.

‘Government shutdowns offer taxpayers a much-needed reality check on the massive scale of federal spending and our unsustainable debt and deficits,’ OpenTheBooks CEO John Hart said in a statement to Fox News Digital. ‘Policymakers need to wake up and take a much closer look at safety net spending, which is the largest share of our budget and is highly susceptible to fraud.’

 

Of the $6.9 trillion spent by the federal government in 2024, $912 billion went to Medicare, and $1.5 trillion went to Social Security, according to OpenTheBooks. 

Meanwhile, OpenTheBooks highlights the rescission package passed by Congress in July, which largely focused on cuts to the United States Agency for International Development, saved around $9 billion and DOGE cuts saved taxpayers around $150 billion. 

‘The amounts of disputed savings in 2025 pale in comparison to our spending on safety net programs,’ the OpenTheBooks report states. ‘If the flow of money in the federal government could be viewed from a jet cruising at 30,000 feet, Medicare would be the Mississippi River and Social Security would be the Columbia River while USAID and ‘woke’ spending programs would be barely visible, tiny streams.’

In particular, OpenTheBooks zeroed in on just one aspect of Medicare funds — those that are allocated for prescription drug coverage. The fiscal watchdog found that the top 1,000 providers in the system are linked to more spending in 2024 — $10.9 billion — than was saved by the July rescission package. According to OpenTheBooks’ findings, the top ten providers are associated with nearly the same amount of savings ushered in by the Trump administration’s $1.1 billion in cuts to PBS and NPR.   

‘We are not implying that any of these providers are engaging in anything other than lawful conduct on behalf of Medicare beneficiaries,’ the report asserts. ‘Yet, it is also true that healthcare spending in the United States is grossly inefficient and fraudulent at a large scale. In June, the Department of Justice charged 324 defendants for defrauding Medicare of $14.6 billion. Meanwhile, last year, the Wall Street Journal reported that insurers ‘pocketed $50 billion from Medicare for diseases no doctor treated.’’

OpenTheBooks’ report argues that if American taxpayers want to understand the costs, benefits, vulnerabilities and potential savings, related to federal government spending, then they must fight for transparency.

‘When taxpayers see where their money is flowing, especially in times of heated debates and shutdowns, they can hold policymakers accountable to better direct its flow,’ the report concludes. 

This post appeared first on FOX NEWS
Previous Post

FLASHBACK: James Comey urged officials to always prosecute high-profile perjury cases

Next Post

Reagan-appointed judge, once rebuked by Supreme Court, continues to lambaste Trump

Next Post
Reagan-appointed judge, once rebuked by Supreme Court, continues to lambaste Trump

Reagan-appointed judge, once rebuked by Supreme Court, continues to lambaste Trump

  • Trending
  • Comments
  • Latest
Buy Bitcoin Under $100K Before The Next Bull Run

Buy Bitcoin Under $100K Before The Next Bull Run

April 22, 2025
Quantum Computing: its Evolution and its Potential Future

Quantum Computing: its Evolution and its Potential Future

March 20, 2025
Stock Market News UK Update: FTSE 100 & 250 Rise

Stock Market News UK Update: FTSE 100 & 250 Rise

March 20, 2025
Oil Prices Rebound After Trump’s Criticism of Powell

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025
Trump Administration Eyes Stake in Greenland Rare Earths Miner

Trump Administration Eyes Stake in Greenland Rare Earths Miner

0
Quantum Computing: its Evolution and its Potential Future

Quantum Computing: its Evolution and its Potential Future

0
Quantum Computing: its Evolution and its Potential Future

Quantum Computing: its Evolution and its Potential Future

0
Air Direct Capture – Reducing CO2 from the Atmosphere

Air Direct Capture – Reducing CO2 from the Atmosphere

0
Trump Administration Eyes Stake in Greenland Rare Earths Miner

Trump Administration Eyes Stake in Greenland Rare Earths Miner

October 6, 2025
What Was the Highest Price for Gold?

What Was the Highest Price for Gold?

October 6, 2025
Banking Giant Issues Dire Warning: Stablecoins Could Drain $1 Trillion From Global Banks by 2028

Banking Giant Issues Dire Warning: Stablecoins Could Drain $1 Trillion From Global Banks by 2028

October 6, 2025
Altcoin Season Index at 67: Rotation Puts PancakeSwap, MYX Finance, and EigenLayer in the Spotlight

Altcoin Season Index at 67: Rotation Puts PancakeSwap, MYX Finance, and EigenLayer in the Spotlight

October 6, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent News

    Trump Administration Eyes Stake in Greenland Rare Earths Miner

    Trump Administration Eyes Stake in Greenland Rare Earths Miner

    October 6, 2025
    What Was the Highest Price for Gold?

    What Was the Highest Price for Gold?

    October 6, 2025
    Banking Giant Issues Dire Warning: Stablecoins Could Drain $1 Trillion From Global Banks by 2028

    Banking Giant Issues Dire Warning: Stablecoins Could Drain $1 Trillion From Global Banks by 2028

    October 6, 2025
    Altcoin Season Index at 67: Rotation Puts PancakeSwap, MYX Finance, and EigenLayer in the Spotlight

    Altcoin Season Index at 67: Rotation Puts PancakeSwap, MYX Finance, and EigenLayer in the Spotlight

    October 6, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 tradehavenhub.com | All Rights Reserved

    No Result
    View All Result
    • Investment Tips
    • Trade Tips
    • Crypto News
    • Economy News
    • Stock Market

    Copyright © 2025 tradehavenhub.com | All Rights Reserved