Elon Musk's D.O.G.E Criticized When Access to Treasury Causes Alarm

Just five days ago, Elon Musk made a bold statement - he would cut $4 billion in US government spending every day until September. But so far, his (DOGE) Government Efficiency Department has caused more controversy than results, sparking fierce reactions from the Democratic Party, concerns from the Republican Party, and increasing scrutiny from Congress over access to the Treasury system. Elon's saving plan was not successful Born from a Trump executive order on Inauguration Day, DOGE was established as an 18-month initiative aimed at cutting federal waste by up to $2 trillion. Musk's aggressive approach has seen the cancellation of federal contracts, elimination of redundant programs, and termination of government leases. However, as of February 6, DOGE only reported savings of $110 million—quite far from the promised $4 billion per day. On January 29, Musk proudly posted on X that his team had eliminated $1 billion in federal waste each day, primarily through hiring freezes and eliminating DEI contracts. But analysts remain skeptical that these cuts will achieve his ambitious goal, with many seeing his commitments as overly optimistic. Accessing the treasury causes concern Debate escalated when it was revealed that members of Musk's DOGE team, including former chief technology officer Tom Krause, were granted "read-only" access to the Department of Finance's payment systems. These systems process trillions of dollars in transactions and store sensitive financial data of millions of Americans. Finance Minister Scott Bessent, who has close ties to Wall Street, granted Krause a special government employee charter - allowing him to bypass traditional hiring restrictions and financial disclosures. This move has angered lawmakers, with some accusing Musk of exceeding his authority. Democratic party leaders quickly voiced their concerns. Senator Chris Murphy warned, "We do not pledge allegiance to Elon Musk." Representative Alexandria Ocasio-Cortez went even further, saying, "A billionaire not elected, with foreign debts and his own agenda, hacking US classified information is a serious threat to national security." Republican lawmakers have also begun to sound the alarm. Bloomberg reported that six Republican senators urged the White House to limit Musk's influence, especially when it comes to access to the Treasury Department. DOGE drops sharply, but is it enough? Despite the controversy, Musk's team continues its mission to cut government spending. In the first two weeks, DOGE has reduced 85 contracts related to diverse, fair, and inclusive programs (DEI), saving about $1 billion. Further cuts in consulting services and building lease contracts have resulted in an additional $165 million in savings. Federal lease contracts are another target, with DOGE canceling 22 lease contracts in six days, saving $44.6 million. On Tuesday alone, the agency canceled an additional 12 contracts from the General Services Administration and the Department of Education, saving $30 million. While these numbers are significant, they still don't match the $4 billion a day in savings that Musk promised. Trump's balancing act Former President Donald Trump, who still holds the reins of the White House, has taken an approach not to interfere with Musk's mission. Although he praised DOGE's efforts, he also reminded the public that he - not Musk - is responsible. "Sometimes we don't agree with that and we won't go where he wants to go," Trump said at a press conference on Monday. "But I think he's doing very well". White House Chief of Staff Susie Wiles and other Trump aides are said to have worked behind the scenes to rein in Musk's more aggressive actions, particularly regarding contract cancellations. However, Musk's independent nature continues to cause disagreements, with some officials disappointed by his unilateral decisions. What will be the next step for DOGE? As Musk continues his quest to reshape federal spending, the political battle over DOGE is far from over. With the Democratic Party's opposition, the Republican Party's increasing vigilance, and pressure on the Treasury officials, Musk may find it harder to achieve his ambitious savings goal. Currently, Trump seems content to let Musk operate relatively freely - but as concerns about transparency and oversight grow, it remains unclear how long that will last. DYOR! #Write2Earn #USBitcoinReserves $DOGE {spot}(DOGEUSDT)