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Saving Millions Won’t Solve a Trillion Dollar Problem - Morningstar
In this intriguing Morningstar article from Dow Jones, the Federal budget deficit is discussed in very realistic terms, while evaluating the more recent efforts to “eliminate waste and fraud” by the much maligned Department of Government Efficiency (DOGE). The basis of the article is commentary by the U.S. Comptroller General and head of the General Accounting Office (GAO, who explains that saving a few million dollars here and there won’t do much to cure the Federal Budget, which currently spends about $2 trillion more per year than it receives in revenue. Surely eliminating fraud and waste is a valiant and important goal, but as this Morningstar article by Brett Arends points out – we can’t “fix a $7 trillion federal budget or close a $2 trillion deficit by saving a few million here or even a few billion there.” Click here to read more.