You have your head in the sand. We're already seeing immediate impact of Trump and Musk's erratic 'DOGE' hack and slash. If an economic crash and civil war are your only binary metrics of impact then continue on and see what happens.fc2112 said:
... nothing happened?
The economy didn't crash. Civil War didn't break out. Everyday life continued. The Earth didn't spin off its axis.
In other words - nothing that was defunded created value added.
Kinda funny to watch the MSM react in horror when an elected candidate does exactly what he said he was going to do.
https://www.axios.com/2025/02/26/musk-doge-science-cuts-universities-fallout
https://www.forbes.com/sites/dereksaul/2025/02/24/doge-layoffs-pose-growing-risk-to-us-economy-and-markets-says-apollo-economist/Quote:
NIH cuts are most immediately hitting graduate education programs.
- The University of Pennsylvania said it would reduce graduate admissions, pointing in part to the NIH cuts, reported The Daily Pennsylvanian.
- The University of Pittsburgh, Vanderbilt University and University of Southern California are among institutions that temporarily paused Ph.D. program admissions but have since resumed the process, per Inside Higher Ed.
- Meanwhile, Columbia's medical school and MIT, among others, have frozen hiring.
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More than 75,000 federal government employees voluntarily took a buyout, while layoffs that could affect up to 220,000 probationary workers have been carried out at agencies including the Internal Revenue Service and the Forest Service.
Quote:
Trump quickly took credit for the initial boost from his victory, ringing the opening bell of the New York Stock Exchange and boasting last month: "Since my election the stock market has set records. The S&P 500 index has broken above 6,000 points for the first time ever, not even close" (the index came within 2% of 6,000 the week before the election). But the S&P has actually declined since Trump took office last month, dropping about 0.3% Monday after sinking nearly 2% Friday as Wall Street turns risk averse.
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The $36.2 trillion national debt is double what it was in 2015 as yields for long-dated U.S. government bonds, a signal of wobbling investor faith in the sustainability of federal finances, have surged.
https://www.axios.com/2025/02/25/musk-trump-doge-economic-dataQuote:
The DOGE-related layoffs could number 1 million, according to Slok, who noted the oft-cited roughly 300,000 potential layoffs does not account for the impact to the 5.2 million-person federal contractor workforce as Musk and President Donald Trump simultaneously take aim at government contracts and grants.
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You can start to see evidence of cutbacks in the weekly initial jobless claims data.
- Over the last two weeks, there have been an average of 1,654 new claims for unemployment benefits in the District of Columbia, which is about three times the 2024 average.
- There were 613 claims to the unemployment insurance program for federal workers in the week ended Feb. 8, up from 382 a year ago. That number is released with a two-week delay and will presumably rise further.