Elon Musk takes apart USAID, warns about social security, but hasn’t addressed…

Elon Musk, the founder of DOGE, recently made headlines for his bold actions within the US government. His Department of Government Efficiency (DOGE) aims to streamline processes and cut unnecessary spending. Musk made waves by dismantling the USAID and issuing warnings about federal entitlements like Social Security and Medicare.

USAID, a key player in international development, quickly came to a halt under Musk’s direction. He accused the organization of fraudulent activities, leading to its disbandment. Additionally, Musk targeted federal entitlement programs, claiming widespread fraud and vowing to root it out. To do so, DOGE gained access to the federal payments system, but a New York judge intervened, blocking Musk from accessing Americans’ personal financial data until mid-February. This move could potentially affect over 70 million Social Security beneficiaries, with Musk hinting at changes to future payment methods.

In another bold move, DOGE canceled over £803.44 million in US Department of Education contracts, effectively shutting down the Institute of Education Sciences, a major education research funder. Despite these sweeping changes, Musk has yet to address concerns regarding Congressional insider trading or push forward the ETHICS Act, which aims to restrict Congress members and their families from trading investments like individual stocks.

A recent report highlighted the immense wealth of US politicians, with some members of Congress boasting net worth exceeding £40.17 million and annual salaries ranging from £139,000 to £179,000. Figures like Nancy Pelosi have seen significant returns on their investments, with Pelosi’s portfolio reportedly earning over 700% since 2014. Concerns about insider trading have arisen due to politicians’ advantageous positions and access to critical market information, raising questions about the ethical implications of their financial activities.

Musk himself faced legal troubles, with the US Securities and Exchange Commission (SEC) suing him for securities fraud related to his Twitter stake. The SEC alleged that Musk failed to disclose his 5% stake in Twitter promptly, allowing him to buy shares at artificially low prices and profit unfairly. The investigation also touched on potential insider trading involving Musk and his brother Kimbal, related to Tesla stock trades.

While Musk’s efforts to bring transparency to government operations are commendable, his legal woes and actions within the US government have sparked controversy. Beneficiaries of federal entitlement programs like Social Security and Medicare remain on edge as Musk continues to shake up the status quo. With uncertainties looming, it remains to be seen how Musk’s initiatives will shape the future of government operations and financial transparency.