Insights on Stimulus Checks and the Savings Potential of Dogecoin

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Insights on Stimulus Checks and the Savings Potential of Dogecoin

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Since the establishment of the Department of Government Efficiency (DOGE) by President Trump, numerous Americans are left puzzled about its purpose and the potential for receiving a $5,000 stimulus check. While there are rumors of possible dividends or refunds, the details remain vague, leading to confusion about DOGE’s operations.

As inquiries persist, here’s what we have gathered so far.

What does DOGE signify in politics?

The Department of Government Efficiency (DOGE), officially named the U.S. DOGE Service Temporary Organization, is a project initiated by Trump and overseen by ‘special government employee’ Musk.

What are DOGE’s responsibilities?

DOGE’s mission focuses on reducing federal expenditures, deregulating policies, and “modernizing federal technologies and software to enhance governmental efficiency and productivity.” Its name is inspired by the cryptocurrency dogecoin.

Who heads DOGE?

Elon Musk was designated by Trump to steer the Department of Government Efficiency (DOGE) through an executive order on Trump’s first day in office. While Musk is perceived as the principal leader, recent legal documents contest this, stating he serves merely as a senior adviser and that DOGE operates separately from the White House.

What savings has DOGE achieved thus far?

As reported on its website (doge.gov/savings), as of Feb. 19, DOGE has reportedly saved $55 billion through various means such as fraud detection, contract cancellations, renegotiations, asset sales, grant cancellations, workforce reductions, program modifications, and regulatory savings.

However, a recently updated “wall of receipts” on DOGE’s website claims the largest canceled federal contract amounted to $8 billion. Yet, the most current version of that contract, a 2022 agreement involving U.S. Immigration and Customs Enforcement with D&G Support Services, was actually for $8 million.

Even accounting for the $7.992 billion discrepancy, DOGE’s documented canceled contracts, grants, and real estate leases listed on the “wall of receipts” page total around $16.5 billion, falling short of the claimed $55 billion.

What actions has DOGE undertaken?

The DOGE website highlights its fiscal restraint measures, primarily showcasing canceled contracts across various federal departments and agencies. Over 10,000 federal employees have been let go, with further reductions expected.

Recently, an executive order has been issued requiring heads of departments and agencies to enforce significant workforce reductions, primarily targeting probationary employees and new hires.

What will the Florida version of DOGE do?

The Florida State Department of Governmental Efficiency Task Force aims to “further eliminate waste within state government, save taxpayer funds, and ensure accountability in Florida,” as stated by DeSantis.

Over the coming year, the state plans to sunset 70 state boards and commissions, eliminate 900 positions, mandate independent reviews and audits for universities, and scrutinize local government spending.

Will Americans be eligible for a check from DOGE?

Former President Donald Trump is entertaining the idea of a $5,000 ‘DOGE dividend’, a tax refund financed by savings from Elon Musk’s Department of Government Efficiency (DOGE).

This initiative, initially presented by investor James Fishback, proposes allocating 20% of DOGE-identified savings to issue refunds to tax-paying households, simultaneously lowering the national debt. Unlike previous stimulus checks, these refunds would target only net federal income taxpayers, excluding lower-income families.

While Trump has not verified any specifics of the scheme, critics are debating whether it genuinely qualifies as a dividend, refund, or a stimulus check.

Diamond Walker is a journalist at The Palm Beach Post, part of the USA TODAY Florida Network. You can reach her at [email protected]. Support our journalism by subscribing today.

Contributing: Cheryl McCloud, USA Today.