The industry hit hardest by DOGE cuts so far (hint: it’s not the media)
Specific companies are already feeling the effects of cost cutting by Elon Musk’s Department of Government Efficiency (DOGE), with the first wave of publicly available data showing a number of government consultants facing hundreds of millions of dollars in canceled or renegotiated contracts.
They include some prominent names, such as Deloitte. The ended contracts for that multinational London-based firm, DOGE claims, total more than $219 million in savings for taxpayers.
At least one plaintiff charged that actions by the White House and DOGE have also left open “months of unpaid invoices” for work already done.
Administration should halt payments to all NGO’s and govt contractors above a very low minimal level and tell them they are going to be paid with Treasury notes that can’t be sold for two years. If they need immediate liquidity they can borrow against those notes from their bank. Banks will have a rush of new business lending to all these entities who want the cash now in exchange for the treasuries as collateral.