In a CBS Sunday Morning interview released Tuesday, Musk expressed disappointment over the size and impact of the legislation, calling it a blow to fiscal responsibility.

“I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing,” Musk said.
“I think a bill can be big or it can be beautiful, but I don’t know if it can be both.”

The legislation — dubbed Trump’s “big, beautiful bill” — promises trillions in tax cuts along with major increases to military and national security spending, while slashing federal health, nutrition, and clean energy programs. According to the Congressional Budget Office, the package is projected to add $3.8 trillion to the federal deficit over the next decade.

Musk’s Changing Role

The billionaire’s remarks come as he launches a media tour tied to a SpaceX Starship test flight scheduled for Tuesday evening. Musk recently announced he would step back from full-time involvement in DOGE to refocus on his companies, including Tesla and SpaceX, both of which have faced growing pressure amid political fallout tied to his close association with Trump.

In an interview with Ars Technica earlier Tuesday, Musk admitted:

“I probably did spend a bit too much time on politics… it was just relative time allocation that probably was a little too high on the government side, and I’ve reduced that significantly in recent weeks.”

Despite his retreat, Musk has not confirmed any changes to his political donations. He had pledged to spend $100 million on Trump-aligned groups and previously contributed over $290 million toward GOP victories in 2024, including over $20 million for a failed Wisconsin Supreme Court race.( More about: Angry Elon Is Back — And He’s Betting Big on Driverless Teslas and AI)

DOGE Under Fire

Musk also defended the Department of Government Efficiency, which he’s led since Trump’s re-election, arguing the agency is being unfairly scapegoated.

“DOGE is just becoming the whipping boy for everything,” he told The Washington Post. “Something bad would happen anywhere, and we would get blamed for it even if we had nothing to do with it.”

Despite Musk’s reduced involvement, DOGE is expected to continue operating, with staff remaining embedded in federal agencies for months or even years, CNN has learned.

The legislation now moves to the Senate, where significant revisions are expected. Musk’s vocal opposition — especially given his financial and political influence — could further complicate Republican messaging on fiscal responsibility as the 2026 midterms approach.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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Angry Elon Is Back — And He’s Betting Big on Driverless Teslas and AI

The post Elon Musk says he’s “disappointed” by Trump’s “big, beautiful bill” and what it means for DOGE first appeared on Finblog.

Speaking remotely at the Qatar Economic Forum via Bloomberg, Musk brought peak billionaire energy: deflecting questions, hurling insults, threatening prison time, and referencing Jeffrey Epstein while trying to explain why everything at Tesla is fine, why DOGE isn’t a dictatorship, and why regulations are apparently what happen when there’s “no cleansing war.”

“I’m not someone who’s ever committed violence…”

But don’t worry, Musk warned — they’re going to prison.

“Massive violence was committed against my companies. Massive violence was threatened against me. Who are these people?… Don’t worry, we’re coming for you.”

He was talking about protestors who vandalized Tesla showrooms. But the implication extended beyond — to anyone organizing or funding them. The camera didn’t cut away as Musk dramatically pointed at the interviewer, Mishal Husain, who kept her composure while Musk spiraled.

Tesla’s Fine. Don’t Worry About It.

When pressed about Tesla’s 71% plunge in quarterly profits, Musk responded like a sulky teenager who didn’t study for an economics exam:

“It’s already turned around.”

That was it. No numbers. No explanation. Just vibes.

“Tesla stock wouldn’t be trading at all-time highs if things weren’t in good shape. Don’t worry about it.”

When Mishal Husain challenged him on brand damage — and those viral Tesla bumper stickers that say, “I bought this before we knew Elon was crazy” — Musk smiled:

“Some people are buying it because Elon’s crazy.”

Calling the Interviewer an “NPC” — Twice

Musk didn’t like the questions, and he made that painfully obvious.

He called the BBC-trained broadcaster an “NPC,” gamer-speak for a mindless character. Not once. Twice.

“It’s like talking to a computer,” Musk snapped.

Bill Gates, Epstein, and Babysitting

Then came the most quoted line of the event. When asked about criticism from Bill Gates, particularly over the dismantling of USAID, Musk fired back:

“Who does Bill Gates think he is to make comments about the welfare of children given that he was very close with Jeffrey Epstein? I wouldn’t trust that guy to babysit my kids.”

DOGE, Ebola, and the $2 Trillion Deficit

Musk defended his role as head of the Department of Government Efficiency (DOGE), downplaying his power.

“We’re not a dictator. We’re advisors.”

Except… not really. Musk openly bragged about canceling USAID programs — including Ebola prevention — and then restoring it “immediately” after realizing it was probably a bad idea.

“We all want Ebola prevention,” Musk mused.

AI, War, and the “Cleansing Function” of Conflict

Asked about overregulation, Musk gave what might be the most disturbing quote of the night:

“When you have an extended period of prosperity with no existential war, there’s no cleansing function for unnecessary laws and regulations.”

Yes. Elon Musk, the world’s top defence contractor and AI entrepreneur, said war has a cleansing function.

On South Africa, Racism, and Starlink

When discussing his failure to get a Starlink license in South Africa, Musk drifted into grievance politics:

“Why do you like racist laws?” he asked Husain repeatedly, as she tried to move on.

On Putin, the WSJ, and Reality

Musk denied any recent contact with Vladimir Putin.

“I was on a video call with him about five years ago.”

Then slammed the Wall Street Journal — which reported regular contact — as:

“The worst newspaper in the world.”

The Bigger Picture: Meltdown or Messaging?

Was this a meltdown? A trolling masterclass? Or Musk using anger to rally his base again — the same “Angry Elon” energy that helped push rockets into orbit and crypto into the mainstream?

Maybe all three. But one thing is clear: Elon Musk is back in political, economic, and cultural combat mode. And like it or not, he’s dragging Tesla, DOGE, xAI, and Starlink with him.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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The post Elon Musk’s Qatar Meltdown: “NPCs,” Jeffrey Epstein, Tesla Denial, and Prison Promises first appeared on Finblog.

According to the nonpartisan Partnership for Public Service (PSP), the costs stem from tens of thousands of federal workers placed on paid leave, wrongful firings forcing expensive rehirings, and lost productivity across key agencies. The estimate doesn’t even account for the legal costs of defending DOGE’s actions or the tax revenue losses from massive IRS staff cuts.

“We haven’t seen much focus on the waste DOGE is creating,” said PSP President Max Stier. “Ultimately, it’s the public that will end up paying for this.”

DOGE’s Numbers Under Fire

• PSP estimates DOGE’s government shake-up could cost taxpayers $135 billion this year alone.
• Layoffs at the IRS could cost $323 billion in lost tax revenue over the next decade, Yale Budget Lab warned.
• Health research cuts could trigger a $16 billion annual economic loss and 68,000 lost jobs.

Despite criticism, the White House defended DOGE’s mission:

“The American public are in lockstep with the president’s mission,” said spokesman Harrison Fields.

Meanwhile, Musk’s self-reported “$160 billion in savings” falls far short of his $2 trillion goal, and experts say major cuts to programs like Social Security and Medicare — which Trump has ruled out — would be needed to hit that number.

Fallout for Musk

Musk announced he would scale back his DOGE work starting in May, after Tesla posted a 71% drop in Q1 profits and a 20% decline in vehicle sales, partly fueled by consumer backlash over his government role.

Still, Musk said he would dedicate one to two days a week to DOGE through Trump’s term:

“I’ll have to continue… to make sure the waste and fraud doesn’t come roaring back,” Musk said on Tesla’s earnings call.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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The post DOGE’s $160 billion in savings have cost $135 billion first appeared on Finblog.

A Blitz on the Federal Government

Backed by a team of young tech operatives, Musk axed over 100,000 federal workers, including scientists, diplomats, and disaster experts. DOGE stormed into sensitive government systems, slashed budgets, and shut down entire agencies like USAID and the Consumer Financial Protection Bureau, with Musk famously boasting he “fed USAID into the wood chipper.”

Musk’s Rise—and Slow Fade

Appearing alongside Trump and gracing magazine covers, Musk seemed like the second-most powerful figure in Washington. But amid political backlash, Cabinet clashes, and Tesla troubles, Musk recently said his role at DOGE is now “mostly done,” though he’ll stay involved part-time. Still, dozens of his loyalists are now embedded across agencies, poised to carry on the agenda.

Savings Claims Under Scrutiny

While Musk initially promised $2 trillion in savings, his targets have shrunk dramatically — now aiming for around $150 billion. Experts warn DOGE’s reported savings, currently at $160 billion, are wildly inflated and based on creative accounting rather than real spending cuts.

A Growing Political Backlash

Democrats are rallying around opposition to DOGE, likening it to the Tea Party surge of 2010. Town halls across America are flooded with angry citizens questioning cuts to vital services. Even Republican lawmakers face heat, though many still defend Musk’s “progress on spending.”

Crippling Key Agencies

• USAID: 83% of contracts canceled; staff ordered home
• Social Security Administration: Rapid restructuring sowing panic among beneficiaries
• IRS: Forced access to sensitive taxpayer data to aid deportations
• Education Department: Workforce slashed by nearly 50%
• HHS: Cutting 20,000 jobs amid healthcare system strain

Culture of Fear and Chaos

DOGE’s mass firings and threatening emails — like the infamous “What did you do last week?” blast, warning non-responders of automatic resignation — have terrorized federal workers. Agencies now scramble to reoffer “deferred resignations” as uncertainty looms.

Critics Sound Alarm

“There’s never been anything like DOGE in American history,” said government scholar Donald Kettl. “Musk has torn down what took decades to build — and it may take just as long to rebuild.”

The Lawsuits Are Coming

More than 100 lawsuits have already been filed challenging DOGE actions, from agency shutdowns to alleged illegal data access. The courts could ultimately decide how deep and lasting DOGE’s impact will be.

Whether or not Musk fades from the scene, his DOGE experiment has reshaped Washington — and the repercussions are only beginning to unfold.

Article was written originally by CNN.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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The post ‘Just never been anything like DOGE’: Inside Elon Musk’s turbulent takeover of government in Trump’s first 100 days first appeared on Finblog.

The so-called “mega API” aims to streamline how IRS records are shared internally and across select agencies, WIRED has learned. The project has raised privacy concerns and drawn attention for its mix of tech titans and federal bureaucrats working behind the scenes.

A Fusion of Big Tech and Big Government

For the past three days, IRS engineers, Palantir developers, and DOGE operatives have reportedly met in closed-door strategy sessions to design the infrastructure for the new IRS mega API.

According to IRS officials who spoke with WIRED, the project’s goal is to:

• Centralize decades of taxpayer data
• Enable secure inter-agency queries via a unified portal
• Integrate AI tools for fraud detection and audit triggers

“This is not just an upgrade. It’s an entirely new nervous system for the IRS,” one official said.

Who’s Involved

• Palantir Technologies, the controversial data analytics firm cofounded by Peter Thiel and known for its ties to U.S. intelligence agencies
• DOGE (Department of Government Efficiency), Elon Musk’s loosely structured federal reform office focused on “streamlining bureaucracy through technology”
• Dozens of career IRS engineers and several White House technology advisors

Musk reportedly described the project internally as “the IRS, but with SpaceX-level software.”

Concerns About Surveillance and Scope

Palantir’s involvement has raised familiar red flags about civil liberties. The company’s past work with ICE, predictive policing programs, and defense agencies has drawn intense scrutiny from privacy advocates.

“You’re combining the country’s most powerful surveillance software with its most sensitive financial database,” said one watchdog group director. “What could go wrong?”

IRS insiders emphasized that the mega API will be used strictly for internal agency functions and not for public or commercial access.

A Test Case for AI-Driven Governance?

Sources familiar with the project say AI tools will likely be embedded in the new platform to help flag tax anomalies, improve audit efficiency, and reduce fraud.

Palantir has pitched similar AI-powered platforms to foreign governments for years. Now, with DOGE’s backing, it may finally get a chance to pilot its vision at scale inside the U.S. government.

Palantir’s surprise appearance alongside Musk’s DOGE in redesigning IRS infrastructure signals a bold, controversial shift in how federal data is handled. Whether it results in greater efficiency or Orwellian oversight will depend on who’s watching—and who’s coding.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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The post Palantir Is Helping DOGE With a Massive IRS Data Project first appeared on Finblog.

Musk, who was appointed as a special government employee in the Trump administration, led a small, Silicon Valley-style task force with a bold mission: eliminate waste, fraud, and bureaucracy across federal agencies. According to DOGE’s official site, Americans have already saved $130 billion, or $807 per taxpayer, as a result.

DOGE by the Numbers

• $1 trillion: Targeted deficit reduction
• $130B: Savings so far (as of March 27)
• 130 days: Musk’s total time in the role
• 15%: Projected cut in government spending without affecting key services

A Self-Styled Government “Revolution”

Calling the experience a “revolution”, Musk told Fox News:

“I think it might be the biggest revolution in government since the original revolution. At the end of the day, America’s going to be in much better shape. It’s going to be a fantastic future.”

DOGE’s seven-member team, made up of engineers and executives, took aim at bloated agency spending, including federal employee headcount and contract bloat. One of their more controversial findings? The federal government was operating 4.6 million credit cards — almost double the number of employees.

“Clearly there should not be more credit cards than there are people,” Musk said, calling the situation “absurd.”

DOGE member Steve Davis added: “Do you need all of these credit cards? Are they being used? Can you tell us physically where they are?”

Targets: A 15% Spending Cut

Musk said his team approached the job with laser focus:

“We want to reduce spending by eliminating waste and fraud and reduce spending by 15 percent, which seems really quite achievable.”

Despite praise from budget hawks, DOGE has drawn criticism from lawmakers who argue the team wielded too much power without congressional oversight. Reports have surfaced of federal contracts being canceled and entire programs shut down without legislative approval.

Musk pushed back:

“They may characterize it as shooting from the hip, but it is anything but that. We measure twice, if not thrice, and cut once.”

Still, he acknowledged that mistakes were inevitable:

“If we were to approach this with the standard of making no mistakes at all, that would be like saying someone in baseball has got to bat a thousand. That’s impossible. So when we do make mistakes, we correct them quickly and we move on.”

The Exit Plan

Musk confirmed he will not extend his 130-day government term, stating:

“I think we will have accomplished most of the work required to reduce the deficit by a trillion dollars within that time frame.”

His exit comes just weeks after attending a Trump cabinet meeting wearing a hat reading “Trump Was Right About Everything.”

Whether seen as a visionary act or an overreach of power, Musk’s short time in government has already made a big fiscal and political impact. As he steps back into the private sector, DOGE’s legacy — and the trillion-dollar question — will be whether this model of tech-led governance sticks.

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The post Elon Musk to Step Down from DOGE After $1 Trillion Deficit Reduction first appeared on Finblog.

“I’ve Never Seen Anything Like This”

In the interview, Musk said:

“It’s come as quite a shock to me that there’s this level of hatred and violence from the left. I always thought that Democrats were supposed to be the party of empathy and caring and yet they’re burning down cars, firebombing dealerships, firing bullets into dealerships, and smashing up Teslas.

Tesla is a peaceful company, we’ve never done anything harmful. I’ve never done anything harmful, I’ve only done productive things. I think we have a deranged mental illness thing going on here because this doesn’t make any sense.

I think there are larger forces at work as well, I don’t know, who is funding this and who is coordinating this? Because this is crazy, I’ve never seen anything like this.”

Musk described the attacks as “deranged” and claimed they were a direct response to his efforts to slash $2 trillion in government spending through DOGE.

“It turns out when you take away people’s— you know, the money they’re receiving fraudulently, they get very upset.”

Violence Against Tesla Escalates

Attorney General Pam Bondi labeled the attacks “domestic terrorism” following an arson at a Tesla Collision Center in Las Vegas. Authorities said Molotov cocktails were used and the word “RESIST” was spray-painted at the scene. Other reports describe bullets fired into Tesla vehicles and dealerships across multiple locations.

Musk responded:

“They basically want to kill me because I’m stopping their fraud. And they want to hurt Tesla because we’re stopping this terrible waste and corruption in the government.”

Musk: “We’re Slashing $2 Trillion in Government Waste”

Musk linked the violence to his aggressive reforms at DOGE:

“It turns out when you take away people’s— you know, the money they’re receiving fraudulently, they get very upset.”
“This extreme amount of hatred and violence is because we’re actually succeeding in getting rid of corruption and waste.”

As head of DOGE, Musk claimed to have cut $2 trillion in unnecessary government spending, aligning with President Trump’s fiscal policies.

“If we were not succeeding in getting rid of corruption and waste, they wouldn’t care.”

Praise for Trump’s Administration

Musk defended the Trump administration’s efforts to rein in federal spending.

“President Trump gave me the tools to do this job. We’re not going back to the era of reckless spending.”

He hinted at deeper political motivations behind the backlash:

“I think there are larger forces at work here as well… I mean, I don’t know who’s funding this and who’s coordinating this.”

Optimism Amid Chaos

Despite the violence, Musk celebrated a major success: the safe return of NASA astronauts Butch Wilmore and Suni Williams via a SpaceX capsule after nine months on the ISS.

“We’re really testing the very edge of human ability here, the very edge of material science, and it’s kind of amazing that humans can do this at all.”
He added:
“Hopefully for people out there this is a moment of optimism about the future, a moment of excitement about the future, and it portends great things for America and humanity in space.”

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The post ‘Some Kind of Mental Illness’: Elon Musk Slams Violent Attacks on Tesla first appeared on Finblog.

Did Tesla Secure the Deal?

• Early government documents named Tesla as a key player, likely due to the Cybertruck’s design and durability.
• However, the State Department later removed Tesla’s name from the documentation, leading to uncertainty about the contract’s recipient.
• Other automakers, such as BMW, have secured smaller federal contracts, hinting at a competitive bidding process.

Elon Musk Denies Any Confirmed Deal

Adding to the confusion, Elon Musk publicly denied any finalized agreement between Tesla and the U.S. government.

I’m pretty sure Tesla isn’t getting $400M. No one mentioned it to me, at least.

— Elon Musk (@elonmusk) February 13, 2025

Musk responded on social media, stating Tesla has no confirmed deal for armored EVs.
Cybertruck’s quality control issues could also be a factor, potentially making Tesla a riskier choice for large-scale military contracts.
Ethics concerns have been raised about Musk’s growing influence in federal decision-making, particularly his role in the Department of Government Efficiency (DOGE).

Conflict of Interest? Ethics Experts Weigh In

Musk’s frequent government dealings have sparked debates over potential conflicts of interest, particularly given his advisory role in federal agencies.

Critics argue that his proximity to policymakers could influence Tesla’s eligibility for lucrative government contracts.
Supporters counter that Tesla’s innovations make it a natural contender for military EV procurement.

What’s Next? Who Gets the Contract?

With Tesla’s involvement unclear, other companies could step up to secure a piece of the $400 million deal.

If Tesla is included, it could drive investor confidence in TSLA stock.
If another EV maker wins, the contract could significantly boost their market position.

For now, the U.S. government has yet to make an official award announcement, leaving investors and analysts closely watching for updates.

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The post Musk Says Tesla Isn’t Getting $400M—Did State Department Forget To CC Him? first appeared on Finblog.

Rex has submitted new ETF registration documents to the Securities and Exchange Commission (SEC), proposing several cryptocurrency-focused funds, including ETFs tied to $TRUMP, DOGE, BONK, Bitcoin, Ethereum, XRP, and Solana. The filings showcase a bold move to incorporate both traditional and meme-inspired crypto assets into mainstream finance.

ICYMI: Rex Osprey has filed for a $TRUMP, $BONK, and $DOGE ETF with the SEC  pic.twitter.com/fHRC1JXpOE— BlockNews (@blocknewsdotcom) January 21, 2025

TRUMP ETF and Market Impact

The proposed TRUMP ETF aims to track the performance of the TRUMP memecoin, launched before Donald Trump’s inauguration. The filing highlights TRUMP’s rapid ascent, briefly reaching a $15 billion market cap before dropping by 50%, emphasizing its volatile nature. The ETF would gain exposure through direct holdings, futures contracts, and swap agreements.

SEC’s Evolving Stance

Historically cautious about crypto ETFs, especially those tied to novel assets, the SEC’s decision on these funds could signal a significant shift under the new administration. The inclusion of memecoin-based ETFs like TRUMP and DOGE marks a potential departure from the regulatory conservatism seen during Gary Gensler’s tenure.

Broader Implications for Crypto ETFs

If approved, these ETFs could reshape the market by blending traditional assets with meme-driven tokens, reflecting the growing cultural and financial influence of cryptocurrencies. However, the SEC’s evaluation of portfolio risks and memecoin volatility will be crucial in determining their fate. For now, Trump’s silence on crypto matters leaves the future of these initiatives uncertain.

The post $Trump and DOGE get ETF filings as Trump begins second term in office first appeared on Finblog.

1. Historical Patterns Suggest Bullish Trend:
   • Dogecoin has a history of explosive rallies following consolidation periods. Analysts note similarities between current market conditions and previous surges, such as the 2021 rally when DOGE skyrocketed from under $0.01 to over $0.70.
   • If this pattern repeats, DOGE could climb to $2.2, representing a significant gain from its current levels.
2. Catalysts for Growth:
   • Memecoin Revival: Renewed interest in memecoins, fueled by social media and celebrity endorsements, could drive Dogecoin’s price higher.
   • Elon Musk’s Influence: Musk, a long-time advocate of Dogecoin, continues to support the cryptocurrency, further boosting investor confidence.
   • Adoption in Payments: Increased adoption of Dogecoin for payments by merchants and platforms could expand its utility and drive demand.
3. Technical Analysis:
   • Analysts have identified strong support levels at $0.10, with resistance around $0.40. Breaking through these levels could trigger a rally toward the $2 mark.

Challenges and Risks

• Market Volatility: Cryptocurrencies remain highly volatile, and DOGE’s speculative nature makes it vulnerable to sudden price swings.
• Regulatory Concerns: Increasing scrutiny from global regulators could impact the broader crypto market and DOGE’s trajectory.

While historical trends suggest a potential rally to $2.2, Dogecoin remains a high-risk, high-reward investment. As retail enthusiasm grows and adoption increases, DOGE could achieve new highs, but investors are urged to proceed with caution and closely monitor market dynamics.

The article was featured on Bitcoinist.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

The post Historical Performance Says Dogecoin Price Could Surge To $2.2, Here’s How first appeared on Finblog.