Thursday, May 29 | By Cate Martel |
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It's Thursday. Can you believe it's almost June? | - Where DOGE cuts stand as Musk exits
- Musk bashes Trump bill on his way out
- Court blocks Trump tariffs. What happens now?
- Report: Musk found Ramaswamy 'annoying'
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So, what has DOGE actually done?: |
Tech mega billionaire Elon Musk has officially stepped back from his role as a "special government employee" within the so-called Department of Government Efficiency (DOGE). He arrived in Washington with an initial goal of slashing $2 trillion from the federal government and to root out waste, fraud and abuse (that was later lowered to $1 trillion). Now, looking back, what has DOGE accomplished? Here are stats to know: |
💰 $175 billion: DOGE's estimate for overall savings. This is far below the trillion-dollar cuts Musk sought, and reporting from multiple news outlets over the past few months have suggested the cuts have been overestimated, citing accounting errors and other issues. 🪓 58,000+: The number of job cuts from DOGE. There has been no official tally, but a New York Times analysis estimated at least 58,000, plus roughly 76,000 government employees who took buyouts.The newspaper cited another roughly 150,000 planned reductions. ⬇️ -14.4: Musk's net favorability rating, according to the Silver Bulletin's average. ⚖️ 28: The number of lawsuits relating to DOGE, per The New York Times's tracker of lawsuits against Trump's agenda. 🧑💻 70 employees: The number of people who have been identified as being involved in DOGE. There has been no official list or tally, though. 📉 14.5 percent: The percentage that Tesla stock has *decreased* since Inauguration Day. Tesla stock has been fairly volatile since Musk began his role within the federal government, but they've steadily risen since Musk announced his upcoming departure at the end of April. 📈 28 percent: The percentage that Tesla stock has actually *increased* since Election Day 2024. CNBC's Tesla stock tracker | Musk thanked President Trump on Wednesday night, posting his farewell on X. "The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government," he said. But Musk left with a parting gift: This morning, he bashed Republicans' mammoth bill to advance Trump's legislative agenda, arguing it phases out Biden's low-carbon energy tax credits too quickly. Read the Tesla Energy post that Musk reposted. |
➤ WHAT HAPPENED TO THE WEEKLY '5 THINGS' EMAILS?: |
➤ OH, AND LET'S NOT FORGET: |
Remember when Vivek Ramaswamy was supposed to be Elon Musk's co-lead of DOGE? Well, Politico's Jonathan Martin reports that Musk wanted Ohio Gov. Mike DeWine (R) to appoint Ramaswamy to the Senate because he found him "annoying." Read Martin's reporting |
➤ MORE NEW READS ON ELON MUSK: |
The New York Times: A Disillusioned Musk, Distanced From Trump, Says He's Exiting Washington The Wall Street Journal: Elon Musk Tried to Block Sam Altman's Big AI Deal in the Middle East The Hill: Conservative furor grows over future of DOGE cuts |
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JOIN OUR EVENT: Invest In America Wednesday, June 4 at 8 a.m. EDT — Washington, D.C. |
Join The Hill for a half-day summit featuring titans from Washington and Wall Street, focused on solutions-oriented conversations that will deliver insights into the future of the domestic and global economy, covering everything from tariffs, investing, AI, crypto, taxes and more. |
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Trump's tariffs hit a big roadblock: |
A federal court blocked President Trump's sweeping tariffs Wednesday evening, arguing Congress never gave the president unilateral authority to impose tariffs on nearly every country. What happens now?: The judges gave Trump 10 days to issue new orders that comply with their ruling. However, the Trump administration quickly appealed the decision. Related, via CNBC: 'Four tools at the Trump administration's disposal after a U.S. court blocks tariffs' Who are the judges?: One is a Trump appointee, another is an appointee of former President Reagan and the third is a former President Obama appointee. Btw, the stock market *loved* this news: Stocks jumped this morning after the panel blocked Trump's tariffs. Two things to keep in mind: 1. The court didn't strike down all tariffs on specific products, like steel aluminum and automobiles. It did block the wide-ranging blanket tariffs from "Liberation Day," though. 2. Trump's tariffs have been very risky for him politically. Having a court block them could actually benefit his reputation. The Hill's Alex Gangitano wrote a helpful explainer on the effects of this ruling. | Why is everyone talking about tacos, you ask?: |
President Trump was visibly agitated Wednesday when a reporter asked him about his tariff strategy, which a Financial Times columnist has dubbed as "TACO trade." ^ That's an acronym that stands for "Trump Always Chickens Out." Trump defended his approach to tariffs and then criticized the reporter for the "nasty" question. 📹 Watch the clip Some of Trump's reaction: "You mean because I reduced China from 145 percent that I set down to 100, and then down to another number, and I said you have to open up your whole country? And because I gave the European Union a 50 percent tariff and they called up and said, 'Please let's meet right now.' … You call that chickening out?" Unsurprisingly, this has become a meme. 🌮 Here are some TACO Trump memes |
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The House and Senate are out. President Trump and Vice President Vance are in Washington. (All times EST) |
12:30 p.m.: Trump and Vance have lunch together.
1 p.m.: White House press secretary Karoline Leavitt briefs reporters. 💻 Livestream
1:45 p.m.: State Department spokesperson Tammy Bruce briefs reporters. 💻 Livestream
5 p.m.: Trump participates in a swearing-in ceremony for the chief of protocol of the U.S. |
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🍲 Celebrate: Today is National Coq Au Vin Day. 🎤 I'm doing a little happy dance: HBO's "Hacks" has been renewed for a fifth season! 🐶🐶 You are stars, Hercules and Ned!: Two border collies work at West Virginia International Yeager Airport, keeping wildlife away from the airfield. 📸 Photos from AP |
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