CandleFocus Hayes doubts Musk’s expense-cutting mandate but stays bullish on Dogecoin
2024-11-14
Author: Content Editor
According to crypto expert Arthur Hayes, Elon Musk will struggle to achieve significant budget cuts in his new role at the Department of Government Efficiency (DOGE). Hayes believes that without congressional support, Musk will not be able to fulfill his mandate. Despite his skepticism, Hayes clarifies that his doubts about Musk's ability to cut the US budget will not make him short his Dogecoin holdings. The post has sparked mixed opinions among followers, with some expressing confidence in Musk's determination while others doubt his qualifications. The legal backing of the Republican Party is seen as crucial for DOGE's operations. Many agree with Hayes that implementing budgetary cuts will be challenging, expressing skepticism about finding funds to trim. The topic of US spending was prominent during the recent elections, with Musk and Trump advocating for leaner government budgets. It remains to be seen how these proposed cuts will affect Musk, who has benefited from government contracts in the past.
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