Thursday, January 23, 2025

24: Krishna



Exclusive: Elizabeth Warren’s Plan for How Musk Can Cut $2 Trillion in U.S. Spending Warren proposed 30 recommendations for eliminating $2 trillion in federal spending over the next decade ......... renegotiating Department of Defense (DOD) contracts that independent analysts have found waste billions each year; reforming the Medicare Advantage insurance program and allowing Medicare to negotiate lower costs of prescription drugs; and closing tax loopholes for corporations and the wealthiest earners. .......... Equally significant will be the chorus of deficit hawks who insist the only way to remedy a bloated federal government is to restructure entitlement programs at risk of collapse in 10 years. “There's no way to meaningfully improve the deficit and debt situation without meaningful reforms to entitlements, which we also need to do to avert insolvency for Social Security and Medicare,” says Maya MacGuineas, president of the nonpartisan Committee for a Responsible Federal Budget. .......... The biggest cost-saving idea in Warren’s letter is to preserve $200 billion by renegotiating Defense contracts. She points to an Inspector General report from 2011 that found contractors regularly hike prices for the military. One egregious example includes the Air Force overpaying 7,943% on soap dispensers. To rectify the problem, she urged passing legislation she previously introduced with Mike Braun, the former Republican Senator from Indiana, that would close loopholes to prevent defense contractors from price gouging the DOD. ........... Non-partisan analysts estimate the insurance program overcharged taxpayers by more than $83 billion last year alone. Warren also wants to allow Medicare to negotiate drug prices, an idea for which Trump has previously expressed support. At the same time, Warren proposed cracking down on Pharmacy Benefit Managers (PBMs), which Trump once castigated as “famous middlemen” who “rip off Medicare patients.” ............... Warren also wants to eliminate or substantially reduce funding for the Charter Schools Program, which was designed to provide federal grants for charter schools but which the Government Accountability Office has found mismanages and wastes most of its funding.

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