CNN host Michael Smerconish engaged in a debate with James Fishback on Saturday regarding the proposed “DOGE dividend” checks that Fishback has suggested the Trump administration distribute to Americans, labeling the idea a “Ponzi scheme” amid significant national debt concerns.
Newsweek contacted the White House via email for comments on Saturday morning.
Why It Matters
The Department of Government Efficiency (DOGE), an unofficial agency established through executive order, aims to minimize the federal government’s extent and size by implementing substantial cutbacks on programs and personnel in various departments.
Fishback, the CEO of Azoria Investments, advocated for checks to Americans as a “dividend” amounting to 20 percent from the savings that DOGE claims to have achieved. Proponents of the initiative suggest the checks could reach up to $5,000 per household.
Fishback has also stated that the checks will encourage Americans to report waste and fraud, framed as a “dividend,” implying that greater DOGE reductions will lead to larger checks.
President Donald Trump has not firmly endorsed the plan, remarking earlier this week that the concept is “under consideration.” Critics have warned that these checks could exacerbate inflation, as they anticipate Americans would spend the money rather than save it.
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What To Know
Fishback appeared on CNN’s Smerconish on Saturday, discussing DOGE’s initiatives and how the checks could benefit Americans. He remarked that the plan “came to me in a dream” and expressed being “honored that the president has endorsed it.”
“This is a genuine plan to allocate the savings generated by DOGE over the next couple of years directly back to the hard-working Americans throughout this country,” Fishback stated.
Smerconish, however, countered the plan, teasing Fishback that while he achieved a “great soundbite,” he believes the plan is flawed as “there is no money in the till.”
“We owe $36 trillion, which translates to $106,000 each, so regardless of the savings, it’s not like President Trump is doing us any favors by providing us with 20 percent,” Smerconish explained. “All funds should be dedicated to reducing the debt, as experts claim that by 2050, 50 percent of all revenue will be required to cover interest on the debt. We should prioritize paying down the debt.”
The Peterson Institute for International Economics is a non-partisan think tank based in Washington, D.C., that focuses on various issues related to the U.S. economy and international economic policies.
“Why did CNN support $7,000 per month for illegal migrants in Chicago but opposes a $5,000 DOGE Dividend check for hard-working American taxpayers?”
Good discussing DOGE Dividend with @smerconish this morning 🇺🇸 pic.twitter.com/5gCOEQNyXb
— James Fishback (@j_fishback) February 22, 2025
The exchange between the two became increasingly intense, with both speaking over one another, leading Smerconish to threaten to cut Fishback’s microphone if he persisted in interrupting.
“This resembles Madoff. It’s a Ponzi scheme,” Smerconish remarked as Fishback criticized the funding allocated to Ukraine amidst its ongoing conflict with Russia, but Smerconish pressed on: “I have a straightforward premise here.”
“We’re $36 trillion in debt. It’s deceptive,” Smerconish stated. “As much as I want to reduce waste, fraud, and abuse, it’s misleading to signal to the American public that due to what Musk is doing, we have $5,000 to distribute to each of you.”
Smerconish continued: “The only way we can provide $5,000 is by borrowing it, given the extent of our debt. I’m trying to find common ground, which simply means that it’s excellent we are finally focusing on waste, fraud, and abuse, though it shouldn’t be done in this erratic manner. But let’s be sincere with the American people that whatever we, quote, unquote, save, we already owe right now.”
Fishback then criticized several programs and initiatives that the Democrats either implemented or attempted to implement during the Biden administration, labeling the Green New Deal as the “Green New Scam,” and condemning the funding for Ukraine and handling of the migration crisis, among other issues.
“Their taxpayer dollars were used abroad instead of being invested domestically, particularly in healthcare and education,” Fishback asserted. “That will cease with President Trump’s leadership. Today, he is fulfilling his promise of significant governmental reform.”
What People Are Saying
James Fishback previously expressed to Newsweek: “We are empowering ordinary Americans to be our eyes and ears to report waste, fraud, and abuse. The more DOGE saves, the larger the DOGE Dividend check will be, which serves as a powerful incentive for people to step forward and report government waste.”
On another occasion, he told Newsweek: “In the long run, this will reshape the economy into a trim, free-market system that enables anyone to work hard, earn a living, and pay taxes with the assurance that their contributions will be utilized responsibly and effectively.”
Senator Josh Hawley, a Republican from Missouri, stated earlier this week to Scripps News: “I support the idea of returning funds to American taxpayers. [Senator] Bernie Sanders and I sponsored direct relief for taxpayers during COVID, so I appreciate that model. Whether that relief is given directly to each person or used to fund a child tax credit, which would be direct assistance for every working family that meets payroll tax criteria, would be excellent.”
Representative Jasmine Crockett, a Democrat from Texas, remarked earlier this week on X, formerly Twitter: “I said the DOGE checks were dead on arrival and MAGA supporters reacted fiercely… I also indicated that $5,000 isn’t sufficient. If you lack employment because of impending recession, people would prefer a consistent income instead. Many seem incapable of processing a complete sentence. Furthermore, what does $5,000 mean when you don’t have access to Social Security, Medicaid, Medicare, SNAP, housing benefits, and more?”
What Happens Next?
The White House has not yet fully committed to the DOGE dividend checks, but the eagerness among some Republicans to advance the initiative implies it will remain a topic of discussion for now. The plan’s success depends on legislative approval and the effectiveness of DOGE in achieving its goals.
This week, DOGE had to retract its claim of saving $8 billion after canceling contracts, adjusting that figure to $8 million instead.
