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On Monday, Elon Musk informed Sen. Ted Cruz (R-TX) that the U.S. government’s “magic money computers” are making payments “out of thin air,” keeping legislators in the dark about federal expenditures.
Speaking on Cruz’s podcast, Musk said that the U.S. Treasury and other agencies have 14 such systems that move substantial amounts of money without the required documentation to support the payments. Cruz said that these erroneous payments may amount to “trillions” of dollars, while Musk asserted that reported expenditure in departments that house one of these systems could be wrong by up to 5% of the budget when given to Congress.
Regarding the computers found by his U.S. Department of Government Efficiency, or DOGE, Musk said, “They’re mostly at Treasury, but there’s some at [Health and Human Services], there’s one or two at State, and there’s some at [the Department of Defense].”
“I believe we have now located fourteen magic money computers. He said to the Republican senator from Texas, “They just send money out of nothing.”
The unorthodox businessman elaborated on DOGE’s revelation, explaining that the Treasury Department is unable to completely notify parliamentarians about the federal government’s overall expenditures because of the existence of these machines.
You could believe that all government computers communicate with one another, synchronize, tally up the monies traveling to various locations, and are coherent, and that the figures you are shown as a senator are accurate. Not at all,” he said.
“How does it operate?” Cruz enquired.
“It just issues payments!” Musk retorted.
According to current monetary theory, the federal government, which issues the US dollar, has the power to print money in order to satisfy its financial commitments.
According to experts who spoke to the Daily Mail, Musk’s revelation may be an attempt to persuade Trump Treasury Secretary Scott Bessent to discontinue this contentious practice.
“This is either a cynical tactic to erode faith in Treasury, or Elon is stupid, which we know he is not. “We should know if @SecScottBessent agrees with this,” writer Laura Windsor said on X.
They are somewhat right, in fact. Money is issued by the federal government without any explanation. It isn’t like a household that must have money before they may spend it. The dollar is created by the government, which is also its *issuer*. The Debt Collective, an organization that advocates for student loan debtors to go on strike and withhold payments, said, “We can use it to fund wars overseas or to pay for healthcare.”
The Biden-Harris administration granted hundreds of millions of dollars in federal contracts to an unexpected group: children, according to startling data provided by DOGE earlier this month.
The Small Business Administration paid out $312 million to businesses whose alleged owners are under the age of eleven, according to an official release. DOGE is making this declaration as part of its efforts to expose fraud, waste, and abuse in government funding.
Although it is conceivable to have business agreements that allow for this, the agency said that it was very improbable that these 5,593 loans would do so since each of them also utilized an SSN that was incorrectly named. “This week, @DOGE and @SBAgov are collaborating to find a solution.”
DOGE also revealed at the announcement that 3,095 loans totaling $333 million were granted to companies controlled by people 115 years of age or older between 2021 and 2022.
Between 2020 and 2021, Biden administrators authorized roughly 5,600 loans in situations involving companies that were reportedly controlled by children; virtually all of these loans were forgiven without repayment after the owners promised to utilize the money to prevent staff layoffs.
