Happy Monday and a very happy National Fried Chicken Day to all who celebrate! President Trump rang the opening bell for both the New York Stock Exchange and the Nasdaq this morning at an Oval Office event promoting the launch of Trump Accounts, the new investment accounts for children created as part of Republicans' 2025 package of tax and spending cuts. Trump also defended his intervention in the World Cup that led FIFA to lift the suspension of Folarin Balogun, the star U.S. striker. The president is set to depart tonight for a NATO summit in Turkey.
DOGE Is Officially Done. Did Musk's Brainchild Save Any Money?
The Department of Government Efficiency came to an official end this past weekend as the Trump administration's cost-cutting effort reached a self-imposed termination date of July 4, 2026.
"While the formal mission of DOGE has come to an end, the mission to eliminate waste, fraud, and abuse will continue," DOGE said in a post on X. "It has been our greatest honor to serve the American people."
First dreamed up by Elon Musk in 2024 during President Trump's election campaign, DOGE was formally created on Trump's first day back in office amid promises of trillion-dollar savings to be won by hard-nosed tech geniuses slashing their way through endless thickets of waste, fraud and abuse in the federal government.
It didn't work out that way.
Musk and a small team of acolytes quickly got to work in early 2025, disrupting the operations of multiple federal agencies as they dug through sensitive databases, canceled contracts for services and pushed for mass layoffs. Although the numbers are a bit hazy, about 200,000 federal employees eventually left their jobs through a mix of firings, buyouts and retirements, and some federal agencies saw their capacities sharply reduced due to the DOGE cuts.
Did DOGE save money? Overall, DOGE fell well short of Musk's initial promise of $2 trillion in savings, as the project ran headfirst into the reality of a federal budget that is shaped largely by the needs of an aging population, the world's largest military, soaring healthcare spending and rising interest costs rather than the nefarious schemes of evildoers looking to rip off Uncle Sam or clock-watching bureaucrats counting the minutes until their retirements.
Before shutting down, DOGE claimed to have saved the federal government $215 billion - $1,335.40 per taxpayer! - but experts have questioned the claimed savings, with some concluding that DOGE actually cost the federal government money as agencies scrambled to deal with chaos and added expenses that include paying thousands of employees not to work.
The Trump administration has said that it does not plan to do a final accounting. At a meeting of the House Appropriations financial services subcommittee last week, Republican Rep. David Joyce asked Office of Management and Budget Director Russell Vought, "Is there something that you're going to present or is there somewhere we can find what exactly DOGE accomplished as far as reductions in dollars spent, people at agencies, or whatever? Is there going to be some documentation of what took place?"
"We have no plans to do kind of a closing DOGE report," Vought replied.
Whatever the final numbers may be, it's clear that even some fiscal conservatives interested in reducing government spending were less than impressed by its efforts. "Good riddance," said Jessica Riedl, a noted fiscal hawk at the Brookings Institution. "DOGE created chaos, spread misinformation & incompetence, violated numerous laws, targeted minorities, killed lifesaving aid funding, likely leaked confidential info, and fed the myth that waste alone drives deficits - all to produce rounding-error savings."
Did DOGE cuts result in deaths? In perhaps the most notable example of DOGE's aggressive cost-cutting, the U.S. Agency for International Development was completely dismantled last year after Musk said it was "a criminal organization" that needed to end. "We spent the weekend feeding USAID into the wood chipper," he boasted in February 2025.
Analysts have claimed that the demolition of USAID has led to hundreds of thousands of avoidable deaths as healthcare programs in impoverished countries were halted, though Musk has bristled at the accusations. "They cannot cite a single name of someone who died out of the 'millions' they falsely claim have died," Musk wrote last week on the social media platform he owns. "Not a single name!"
New York Times columnist Nicholas Kristof said the case was clear. "Musk's assertion that not a single child died is absurd," Kristof wrote, before providing a number of examples, including: "Achol Deng, 8, had been infected with H.I.V. at birth in South Sudan but had been kept alive by American-provided medicines costing just 12 cents a day. The dismantling of U.S.A.I.D. and the resulting chaos meant that she lost her caseworker and access to medicines, and soon died of an opportunistic infection."
Kristof noted how inexpensive the foreign health programs were. "Until Trump's second term, American aid cost just 23 cents for every $100 of gross national income and saved a life approximately once every 10 seconds," he wrote. "Seems like a bargain to me."
Federal government is hiring again: Although DOGE succeeded in reducing the federal workforce, the hiring freeze it imposed has ended and some federal agencies are starting to refill positions that were lost.
In the first five months of 2026, the federal government posted more than104,000 jobs, NOTUS reported last week. That's a big jump from the roughly 68,000 jobs posted in the final five months of 2025.
At the Department of Health and Human Services, new hires could be greater than the number of jobs lost last year. HHS laid off about 10,000 workers in 2025, NOTUS reports, while it aims to hire 12,000 this year. In some departments, officials are looking to refill positions that performed essential tasks. The IRS has received permission to fast-track the hiring of 8,000 workers after it laid off more than a quarter of its employees last year, while the Energy Department is rushing to hire nuclear waste experts after it pushed out mission-critical employees.
The bottom line: DOGE is done, but the impact of its slash-and-burn approach will likely be felt for quite some time, and many of its veterans still work in the federal government. Elizabeth Linos, a Harvard Kennedy School public policy and management professor, told Politico that DOGE has undermined confidence in government. "That has really long-lasting effects on our ability to rebuild trust in government or even convince the next generation of talent to enter government to begin with," she said.
Number of the Day: $5 Million to $6 Million
President Trump said Monday that Sikorsky, a subsidiary of defense contracting giant Lockheed Martin, will fund the construction of a new granite helipad on the White House South Lawn. Trump said the helipad is needed for the more powerful helicopters now being used as Marine One, which he said have burned and destroyed the lawn during landings. A new fleet of 23 VH-92A presidential helicopters was completed in 2024. The Navy said they were "built to increase performance and payload."
Construction crews have reportedly already started work on the helipad, the latest in a string of major renovation projects that Trump has undertaken at the White House.
"Sikorsky is paying for it. You know why? Because they didn't tell us how powerful these helicopters were, and they felt a little bit guilty," Trump told reporters "It's about $5 or $6 million. They're paying the full cost."
Lockheed confirmed the cost range in a statement to news outlets, and a company spokesperson reportedly said that the contribution was made to the Trust for the National Mall, the National Park Service's non-profit organization.
But The Washington Post reports that the project will cost $13 million including other work nearby and that the White House accelerated the construction timeline ahead of a planned state visit by Chinese President Xi Jinping in September, with around-the-clock work raising the price by $875,000, according to a contractor's records cited by the Post.
Chart of the Day: Not So Beautiful?
Democrats are using last year's "One Big Beautiful Bill Act" as a cudgel against the Republicans who passed it, with congressional Democrats bringing up the legislation twice as often last month as their GOP counterparts did, according to a tally by The Washington Post.
"The legislation has emerged as a central talking point for the Democratic Party," the Post's Matthew Choi and Clara Ence Morse write, "with candidates deriding it as the 'Big Ugly Bill' and tying the changes it brought to Medicaid and food assistance programs to voters' anxieties about the cost of living."
The Democratic Congressional Campaign Committee reportedly advised Democratic House candidates in a memo last week to hammer the law's provisions and force Republicans to defend them.
Republicans, meanwhile, have sought to rebrand their landmark law, the signature accomplishment of the 119th Congress, as the "Working Families Tax Cuts" and emphasize certain popular elements.
Fiscal News Roundup
- Trump Rings Opening Bell in Oval Office, Hails Trump Accounts – Bloomberg
- DOGE Is Officially Ending. Agencies Are Hiring Again – NOTUS
- DOGE Won't Get a Closing Report Detailing Savings or Workforce Cuts, OMB Says – WTOP
- Trump Speeds Up Helipad Project Ahead of Xi Visit, Adding $875K, Records Show – Washington Post
- NATO Chief Demands Allies Present Credible Plans to Reach Defense Spending Targets – Associated Press
- Obamacare Rolls Shrank Dramatically in Many States Over the Past Year, New Federal Data Shows – Associated Press
- Trump's Administration Won't Seek New Bids to Repair the Lincoln Memorial Reflecting Pool – Associated Press
- The Company Processing ICE's Medical Payments Hasn't Paid Out a Dime – NOTUS
- A Ballooning Problem: Weather Warnings Face Rising Risks From Budget Cuts – Politico
- Is AI Ready to Take Over Your Prescriptions? Doctors Are Wary of Utah's Automated Refill Program – Associated Press
- White House Report Brands Smithsonian Leadership as Radical Activists Who Can't Be Trusted – Associated Press
- Graham Platner Considering 'Best Path Forward' in Maine Senate Race After Denying Sexual Assault Claim – NBC News
Views and Analysis
- Trump's Economic Policy Legacy is Shrinking. It Didn't Have to Be This Way – Victoria Guida, Politico
- A Year In, Here's How Trump's Tax Law Is Affecting Your Budget – Riley Beggin and Rachel Lerman, Washington Post
- DOGE Self-Deletes on July 4th. The Grand Experiment Fell Apart Long Before That – Kevin Bogardus and Scott Waldman, Politico
- The White House's Failed DOGE Experiment Comes to an Official and Overdue End – Steve Benen, MS Now
- Save Social Security With the Gig Economy – Kathryn Anne Edwards, Bloomberg
- The Elixir of the Payroll-Tax Cap and Other Social Security Myths – Jessica Riedl, The Atlantic
- Democratic Socialists Give New Life to Medicare for All – Maya Goldman, Axios
- Benjamin Franklin, Champion of the Wealth Tax – Harold Meyerson, American Prospect
- It Failed in France. It Would Be a Disaster in California – Joshua Rauh and Benjamin Jaros, New York Times
- Trump's Meddling Threatens Warsh's Fed Leadership – Jonathan Levin, Bloomberg
- A 41 Percent Tax? Hold Our Beer – Washington Post Editorial Board
- Democrats Invoke 'Big, Beautiful Bill' Far More Than Republicans as Midterms Near – Matthew Choi and Clara Ence Morse, Washington Post
- Trump Won Big Spending Promises From NATO Last Year. This Week in Turkey, He'll Try to Enforce Them – Seung Min Kim, Associated Press
- The Anti-Affordability Agenda – Washington Post Editorial Board