Government Spending Is Never Going To Stop Unfortunately
To investors, Elon Musk and President Donald Trump teamed up earlier this year to execute the most ambitious government spending cuts program of my lifetime. The Department of Government Efficiency recruited some of the country’s most talented engineers and entrepreneurs by making it high status to work in the government. These individuals devoted countless hours to combing through various government organizations to find waste, abuse, fraud and inefficiency. The stories that started to surface were shocking to say the least. There was a mine processing physical paperwork for people to retire, USAID was handing out money to people around the world for all sorts of crazy things, and there were numerous reports of how bloated the federal workforce had become. But none of that seemed to matter. Not only was DOGE met with resistance at every turn, but now it seems we have confirmation that politicians on both sides of the aisle never cared about the effort actually succeeding anyway. The proposed Big, Beautiful Spending Bill would see government spending skyrocket to levels that could increase the federal debt by more than $5 trillion. Think about how insane that is — as the saying goes, give a man a money printer and he will print money. That seems truer today than ever before. But Elon Musk, leader of DOGE, finally lost his patience and discipline yesterday. Musk tweeted “I’m sorry, but I just can’t stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it.” This was an obvious break from the public support that Elon has lent to Trump and his administration over the last 12 months. People have long predicted the mega personalities of Trump and Elon could not co-exist forever, but this seems like less of a soap opera and more of a disagreement on one of the most important questions of our time — does the national debt actually matter? It should be obvious where I stand on the issue given my long time interest in bitcoin. Elon Musk isn’t the only one upset about this bill — Senator Rand Paul went on CNBC and shared his disdain about what is happening. Here is the interview:  And here is the best part about the entire debate — you don’t need to be Albert Einstein to figure out things are getting bad. Just look at this chart:
The national debt is not only up and to the right, but it actually has been accelerating in recent years. Wall Street Mav writes: “Our annual US budget deficit is going to be over $2 trillion per year going forward. We pay over $100 billion per month in interest on the national debt. $1.2 trillion per year. That is about 25% of all government revenue going to pay interest on the debt.”
This is a terrible, no good, bad situation. It is getting worse and no one, including the world’s greatest entrepreneur, seems to be able to fix it. Lyn Alden says it best when she says “there is no stopping this train.” Thank god Satoshi created bitcoin. Hope you all have a great day. I’ll talk to everyone tomorrow. – Anthony Pompliano Founder & CEO, Professional Capital Management Countries Are Rushing To Buy BitcoinJohn Pompliano and Anthony Pompliano discuss all things bitcoin, bitcoin bonds, hash-rate, legislation about the US buying bitcoin, stock market, why so many people missed the last rally, what it means for your portfolio, and how bitcoin and stocks could perform the rest of the year. Enjoy! Podcast Sponsors
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