Source: Reason
by Katherine Mangu-Ward
“‘At least $2 trillion’ was Elon Musk’s casual preelection response when asked how much a new Donald Trump administration could cut from the federal government. As a goal for the new administration, $2 trillion in cuts is both perfectly reasonable and politically impossible. The federal government, now burning $6.8 trillion annually, ran on $4.4 trillion just five years ago — hardly a time of fiscal restraint. But any ambition to curb government spending will have to contend with a political reality that isn’t exactly primed for austerity — especially under a second Trump administration, where a potent combination of executive power, cronyism, and party infighting looks likely to dominate.” (for publication 01/25)