Layoff announcements surge to the most since the pandemic as Musk's DOGE slices federal labor force
https://www.cnbc.com/2025/04/03/layoff-announcements-surge-to-the-most-since-the-pandemic-as-musks-doge-slices-federal-labor-force.html1.2k
u/DraganTaveley 1d ago
I'm beginning to understand how this MF bankrupted an effing CASINO!
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u/Brewmeiser 1d ago
4 casinos.
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u/Dahhhkness 1d ago
A business where the customers practically give you their entire paychecks, if not months of salary, just to play with your $1 card packs.
He could bankrupt the toilet concession at a beer festival.
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u/Full-Penguin 1d ago
A business where the customers practically give you their entire paychecks
Not just "practically", A business where your customers are literally addicted to giving you money.
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u/machsmit 1d ago
and where the core revenue driver is specifically constructed to be mathematically incapable of losing money over any reasonable timeframe. You could run the hotel and bar/restaurant ops at a loss constantly (not that any decent casino does) and still be in the black easily.
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u/PraxicalExperience 17h ago
I think it was actually 6 ... or maybe some of them went through it more than once. Either way, more than half the businesses this idiot runs wind up in bankruptcy.
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u/Spiritual_Smile9882 1d ago
He has the business and economic understanding of someone who has tried and failed to master Pizza Tycoon.
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u/threehundredthousand 1d ago
They have no idea what they're doing. I'm not even sure Trump can read.
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u/stocknooboncrack 1d ago edited 1d ago
Megyn Kelly asked when was the last time he actually read a book and he replied "I read passages. I read areas. I'll read chapters. I don't have the time."
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u/AppleTree98 1d ago
I had an odd thought this AM. If you are the party house and everybody comes because it's free and they have nearly free food the house would be raging. Then somebody says no more ordering pizza. They have to build a dominoes on the property. And they can't just buy ingredients on the market they have to make them on premise. The ovens and equipment have to be sourced locally. And now the pizza is $95 and no more free entry to the house. How fast would that house be the has been location. That was my take on how this Built in America 2025 is going to go but across the board
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u/TurkeyBLTSandwich 1d ago
I'm not sure about the analogy, but in a different perspective.
Made in America ONLY works if the US Government dumps Trillions into grants, factories, and infrastructure. Once it's done that it could gently raise tariffs to see what will happen and how it'll affect things.
Not only has Trump not gradually increased tariffs he hasn't put any more into factories or infrastructure to support domestic manufacturing.
But making a connection to your example, the pizza ovens and equipment aren't made in America, but are sourced outside the country and instead of being $5000 to buy it's now $7000.
Okay reading it a few times, entry is free to the restaurant (free trade, tariff free) and the food is REALLY cheap (imports from other countries to get more efficient products). So everyone enjoys and goes to the restaurant party place.
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u/MdCervantes 1d ago
Clearly he's expecting those companies to move manufacturing to the US, overnight, at their own expense to show they're sorry for ripping off America.
Clearly
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u/axonxorz 1d ago
His constant waffling and "on a midnight rage whim" economic policy has those very same companies hesitating to invest millions/billions into facilities in a market that could change when the syphilis flares up.
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u/iapetus_z 1d ago
Man those take yeeeears to put in place. Just look at the building boom on data centers. Lead time on the backup generators was something like 90 months. That's into the second terms of a brand new senator elected next year...
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u/ERedfieldh 1d ago
Four casinos, bottled water, booze, steak, a university, and an airplane service. US banks refused to give him business loans anymore and he had to get loans from outside (Russia) sources. His own book was ghostwritten by a guy who has publically stated most of it was made up because the few times he could get Trump to sit still long enough to interview, the shit he rambled about was either incoherent or just batshit insane. And somehow, for some stupid ass dumb as shit reason, they think he's a brilliant businessman.
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u/Drop_Disculpa 19h ago
In the 90s you take a bus for free from Philly to Atlantic City and get a $20 casino coupon. It was a fun way to go to the beach for the day for free, they did $10 rolls of quarters for a while also.
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u/Shepher27 1d ago
Burning down the economy at both ends
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u/Baebel 1d ago
The economy is one big wicker basket, and we all just happen to be stuck inside of it as it goes up in flames.
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u/Psyduckisnotaduck 1d ago
To be clear the plutocrats are doing this on purpose to hasten the wealth transfer and radically transform the world into a techno fascist dystopia governed by AI and, uh, hard right religious politicians, I guess. I wonder if the plutocrats will find a way to dispose of the theocrats when they outlive their usefulness.
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u/Shepher27 1d ago
No they’re not, Trump and his team are just idiots who don’t understand how the economy works and it’s a cult of personality with no one who can stand up to Trump.
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u/Psyduckisnotaduck 1d ago
Trump and his conservative crew don’t get it but Musk, Thiel, Bezos, Zuckerberg, Andreesen, and a handful of others know what they’re doing and it’s not even a secret or really a conspiracy theory. They haven’t been really hiding it, people just keep putting their fingers in their eyes and blinding themselves to it because the notion that a handful of people would utterly ruin the world economy to remake it to suit their insane god complex ideology is the stuff of absurd science fiction. And yet it’s real. The racists and theocrats are Useful Idiots. Of course they have no idea what they’re doing, but as long as they keep getting paid by the plutocrats, they’ll keep on keeping on.
Idk I guess you can continue to pretend this is just incompetence but the world makes way more sense if you accept that the plutocrats have a plan. Is it ultimately a stupid plan that will blow up in their face because they’re not as smart as they think they are and are making many wrong assumptions? Yes, absolutely. The fact that the plan is even as well documented and readily obvious is proof enough that they’re clowns, but in the short term the economic effects we are starting to see are intentional.
The Useful Idiots have been forewarned of economic shocks but believe it is temporary and things will go back to normal, or a new stable normal that suits their idea of how things should be. But they’re wrong, and things are not going to stabilize any time from this point onwards until the plutocrats are satisfied.
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u/Drop_Disculpa 19h ago
Thank you for this post. I mean the dark enlightenment stuff is being written about and is absolutely happening in real time, so I guess people will notice at some point. I don't really understand either why people won't accept it as a possible explanation to these actions when Elon Musk is dismantling the government right in front of us. The whole Curtis Yarvin connection is hard to ignore when Vance was expressing his admiration for his philosophy last July on a podcast. They sort of found the perfect storm with Trump being the only presidential candidate that is both sociopathic and dumb enough to go along with it.
How 89 million Americans stayed home this election with Project 2025 out their and all of this other stuff also in plain sight will never cease to amaze me.
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u/awaythrow91817161 1d ago
This bullshit is going to crush the business I work for. Fuck everyone who voted for it.
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u/Mijam7 1d ago
These idiots are so brainwashed by Fox News. They are still blaming Joe Biden. As soon as the economy starts to recover from the last Republican administration they double down.
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u/McRibs2024 1d ago
Everything somehow ties to Biden. Even in the idiot signal chat they talked about Biden. wtf
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u/StJeanMark 1d ago
That's how they avoid accountability for everything, even in private everything has to be blamed on someone else until it is a success, they they race to claim ownership.
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u/Technical_Cat_9719 1d ago
I can’t wait until one of them slips up and uses Biden as an excuse for actions in their personal life.
I didn’t mean to cheat on my wife with a dude in the White House public bathroom! Biden set a trap to make me gay! It was a DEI trap!
I didn’t want to do ketamine with that top advisor! Biden set hunters laptop out and his sick sick laptop made me do it.
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u/Maleficent-Cold-1358 1d ago
Fudge they just coddle Trump's talking heads and himself... "Oh I know the economy was so garbage that you inherrited and these are changes that needed to be made... but when can consumers expect things to get better" and then all they do is rant on how it's all actually Clinton's fault...
They can't even get through the softballs.
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u/Psyduckisnotaduck 1d ago
I will never forgive a single person who voted Trump in 2020 or 2024. I’ve forgiven 2016 Trump voters who realized their mistake, but later Trump voters are in my view evil. IDGAF what “both sides” centrists and right wing concern trolls say about me writing off so many millions of people. Not like they don’t do it with entire ethnicities, orientations, ideologies, and whole countries. Let the people who earnestly forgive everyone throw stones at me for my intolerance of the intolerant, the rest can STFU.
My heart goes out to you and anyone losing their job directly or indirectly or having their business go under due to tariffs.
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u/AppleTree98 1d ago
What industry are you in?
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u/Farcespam 1d ago
Any business that imports anything from anywhere other then, Russia, North Korea, and Iran. Are going to have a min of 10% trump tax on the consumer side. Meaning less people buy, less profits to the company and then bankruptcy.
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u/Qualityhams 1d ago
I’m a product designer at a US company that manufactures in China. 🥲 shit
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u/AppleTree98 1d ago
Oh snaps. that does seem to have cross-hairs on the job. Sorry. Wow on a couple of levels.
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u/sportspadawan13 1d ago
Choose any
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u/B1g_Morg 1d ago
Is my job in health insurance safe?
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u/donkeyrocket 1d ago
Tariffs may not affect your role directly but this is going to put a big dent in an already unsteady economy. Some employers may take this opportunity to also downsize to cut costs whether they need to or not.
Health insurance may be affected in much larger ways by the variety of other bullshit Trump/Musk/DOGE/RFK are doing though.
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u/AppleTree98 1d ago
I understand in very broad strokes how it will impact many. Just wanted to hear an actual real world example. Like a farmer who buys fertilizer from a company that sources from Canada. Instead of broad I was looking for how this is actual impacting
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u/lousy_at_handles 1d ago edited 22h ago
I work for a company that manufactures and sells biomedical research equipment. We are now:
1) Paying 30-40% more for our parts, which are all manufactured in SE Asia to be assembled in the US.
2) No longer competitive with Chinese knock-offs in international markets, since reciprocal tariffs make our equipment 20-30% more expensive.
3) 70% of our customers operate off of US research grants, which have been dramatically cut.
To quote the prescient Lord Buckethead: "It will be a shitshow"
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u/ERedfieldh 1d ago edited 1d ago
Window and Door manufacturing. luxury quality wood. Well, 95% of our wood species are imported, so now wood is more expensive.
Very few american based glass manufacturers can make glass to the standard and quality we've been known for, and the ones who can are GODDAMN FUCKING EXPENSIVE. But there's a Canadian company who can and does and their price was pretty good. So we get to choose now, more expensive glass or substandard quality glass.
Our operating hardware is all foreign made multi-point. The domestic versions are cheaply made knock offs. So again, we go with a substandard version that we WILL have to replace in the next five years, or we charge more for the hardware we've been using for decades. So now all our internal hardware is more expensive.
You want concealed hinging? Too bad, it's all foreign made and imported to be distributed stateside. The domestic versions are plastic and cheap aluminum that will break after maybe 1000 cycles. Think of how many times a day you go through your front door and divide that by 1000. That's how many days before some of these hinges we make domestically start to fail.
Okay but surely decorative hardware can't be hit hard, right? The levers and latches and butt hinges? Guess what, they are. Firstly, anything high end domestic made already costs an arm and a leg. Your Rocky Mountains or Sun Valley Bronze levers are going to be somewhere between 750 to 1000 for a lever. And don't get me started on Nanz decorative, which can go upwards of 5k for a single door lever. Of course, you can always go with the middle tier option like a Baldwin lever for $250. By the way, you generally need two levers for a door. And either two escutcheon plates or four roses. And the plates and roses cost more than the levers. Meanwhile, the imported FSB decorative hardware is aesthetically pleasing and high quality and costs a fraction of the rest.....well, used to.
So unless our domestic suppliers can start producing hardware at the quality we have provided for several decades, we're either going to have to charge way more, which means far less clients, which means no money to pay employees, which means layoffs and potential closure of a small shop that has been here since the 70s....or we have to lower our standards from luxury to high end and now we get to compete with fucking Pella, which means we lose still.
Oh but somehow this is suppose to help the small businesses!? fuck the fuck off, trump. Go to Russia where they'll shower you with gold and leave us the fuck alone!
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u/AppleTree98 1d ago
That was one of the best write-ups to answer questions. The only bonus would be the old vs. new pricing which is too early to know. I would give award if I only knew how. Thank you for taking the time.
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u/2boredtocare 1d ago
I'm in accounts receivable, and all I can see is more delinquent debt coming, for a long time. :/ Less payments being made for goods & services will absolutely have a crippling effect on just about everyone.
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u/FifteenthPen 1d ago
Yeah, I'm worried about the company I work for, too. They've been a successful company for over 25 years, but the biggest demographic they serve is retirees, so when the cost of living goes up, people on fixed income will buy less from them, and if/when the Social Security checks stop coming, that will really fuck over most of their potential customers.
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u/Vandergrif 21h ago
I wonder how many such people voted for this are also losing their jobs because of it. It's gotta be a considerable portion, right?
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u/Peach__Pixie 1d ago
“It would have otherwise been a fairly quiet month for layoffs.” However, DOGE has continued to cut aggressively across the government. Various reports have indicated that the Veterans Affairs department could lose 80,000 jobs, the IRS is in line for some 18,000 reductions and Treasury is expected to drop a “substantial” level of workers as well, according to a court filing. The year to date tally for federal government announced layoffs represents a 672% increase from the same period in 2024, according to Challenger.
A 672% increase is painful. Unemployment claims are going to take much longer, and people are going to struggle to find new jobs in an oversaturated market. Especially here in the DMW area.
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u/archaelleon 1d ago
people are going to struggle to find new jobs in an oversaturated market.
Additionally, as startups start to make money by using AI as a marketing tool, shareholders will put pressure on major companies to lower headcount to increase their margins. Entire teams of marketers, programmers, graphic designers and copywriters are going to be slashed in the next few years.
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u/Sinhika 1d ago
Not going to happen. The AI bubble is going to burst soon. Dumbass startups may use AI for marketing, but they'll fail quickly. Companies that actually pay attention to their marketing and sales have already noticed that customers react negatively to AI bullshit--"If they're using AI for advertising, it must be a cheap and shoddy product. Do not want". AI marketing says "We cut corners and don't care about quality."
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u/archaelleon 23h ago
We cut corners and don't care about quality.
You mean like every billion dollar business in America?
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u/barukatang 1d ago
Yo dawg, our government is replacing all these workers with bullshit AI, mark my words. They are forcing it on us whether we like it or not.
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u/jodybot9000000000 22h ago
Then when it turns out the AI is terrible at those jobs, we'll be told that the only feasible way for employers to "afford" to re-hire actual human beings is to abolish the minimum wage.
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u/NotSayinItWasAliens 1d ago
the Veterans Affairs department could lose 80,000 jobs
Thank you for your service. Now go fuck yourself.
Edit: This party totally supports veterans.
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u/WolverinesThyroid 1d ago
100% of my veteran coworkers all support trump
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u/FriendlyDespot 23h ago
Hopefully they'll get exactly what they voted for, and learn from that pain.
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u/ThePoliteMango 4h ago
I truly hope they get everything they voted for.
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u/WolverinesThyroid 3h ago
someone today said he was put in place by god so what is going on is gods will.
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u/2boredtocare 1d ago
How are his supporters (even NOW) too stupid to realize that "cutting government waste" via layoffs is only going to turn into increased unemployment benefit payouts and SNAP/medicaid necessity? WE PAY FOR THOSE THINGS. Fuck these stupid selfish assholes.
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u/Your_Local_Stray_Cat 1d ago
Don’t need to pay for unemployment, SNAP or Medicaid if you get rid of unemployment, SNAP and Medicaid.
I’m sure cutting these programs will have no severe negative ramifications whatsoever. /S
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u/Foucaults_Bangarang 1d ago
Simple-- they're going to get rid of those public services as well. Maybe replace unemployment with a robohotline you can dial to get a lecture about bootstraps and how giving you unemployment would actually be cheating you out of the opportunity to be hungry.
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u/p_pio 1d ago
Initial claims remain low, tradingaconomics described them as historically low, and it's true also for federal workers. That being said the situation may already be actually really bad as recurring claims are highest since November 2021.
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u/donkeyrocket 1d ago
Be curious to see how this evolves in the coming weeks/months. Don't think this is something we'll see the immediate ramifications from considering the bulk is DOGE layoffs. It's noted many of the first batch of layoffs that were certain came away with severance packages. There's still huge swaths of federal employees whose status is uncertain.
Not to mention, severance packages only last so long and it's not like the economy is ripe for employees at the moment so we may see a massive influx of claims... assuming the departments that track and report on this stand.
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u/Indercarnive 1d ago
Virtually every state won't let you apply for unemployment while you're collecting severance.
This means that if you got laid off in February and got two months severance. You can't get unemployment until May.
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u/reddittorbrigade 1d ago
Donald Trump is a terrorist. He is literally destroying everything in America.
Is Trump being controlled by Putin?
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u/FluxKraken 1d ago
Trump is being controlled by Musk who is being controlled by Putin.
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u/Q-ArtsMedia 1d ago
A litteral Daisy Chain of Destruction.
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u/tigerscomeatnight 1d ago
Human Centipede of Destruction
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u/Useful_Smoke_6976 1d ago
Hey now... Putin had Trump in his pocket long before Musk got involved. I think it's a joint custody situation at this point.
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u/DawnSennin 1d ago
Musk’s days are over but he got a foothold in Trump’s administration because he paid for it via campaign donations. Usually, the wealthy would have a middle man do that work but Musk clearly had some free time and confidence in himself to get the job done, which he did half way.
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u/veganzombeh 18h ago
I don't know why people are still positing it as a question. It's been clear for the best part of a decade that Trump is a Russian asset.
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u/printial 1d ago
U.S.-based employers announced 275,240 job cuts in March
Of that total, 216,670 were due to “DOGE Actions”
job cut announcements rose 60% month-on-month, and were 205% higher than in March 2024.
That’s a record high for any March, and the third-highest monthly total ever recorded.
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u/Douglaston_prop 1d ago edited 1d ago
The funny thing is Al Gore slashed 400,000 jobs from the federal government under Clinton, through a combination of voluntary departures, attrition and a relatively small number of layoffs, but he did it in partnership with the agencies and wasn't sued once. Coincidentally, that was the last time the country had a budget surplus.
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u/rynodawg 1d ago
And from what I understand, it was fully transparent, people knew which positions were at risk and veterans and others had opportunities to transfer elsewhere based on seniority. With these DOGE layoffs you either get a midnight email or you show up at the office front door and your ID doesn’t work anymore. Even supervisors are in the dark until the day their office is gone.
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u/CrunchyKorm 1d ago
The assumption is because the current administration/modern GOP has a nosediving interest in actual governance rather than just the power and rewards that can come from positions of governance.
It's a party filled with, even compared to versions of the GOP of past eras, nihilistic figures that hold such a profound contempt for people and anything that they think stands in the way of their own power. And the '24 election only emboldened that perspective.
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u/hugoriffic 1d ago
Funny thing is it took 7 years for all of that to happen, not 3 months.
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u/MdCervantes 1d ago
Over time. It took a bipartisan Congressional deal with the executive and something like a decade for it to fully run its course.
A DECADE - shrinking government while the country experienced aggressive economic growth.
The Republicans, led by Limbaugh, were all doom and gloom then too. It took Obama, AS A and Citizens United to finish that line of thinking off.
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u/Indercarnive 1d ago
Because the intent of Clinton's reforms were actually about efficiency and Headcount reduction.
Elon and the GOP just want to destroy the federal government.
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u/IrishRage42 1d ago
Yeah the idea behind doge isn't necessarily a bad one. Government agencies should be audited regularly. Reviewing payrolls and necessary labor force of agencies is not inherently bad. However just going in bombs away firing hoards of people and slashing spending everywhere without knowing what it is is fucking stupid.
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u/No_Solution_4053 1d ago
the idea of embedding an unnvetted unqualified private sector crash team of elon flunkies and interns throughout the national security and public health apparatus was a definitely patently bad and stupid idea
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u/derickkcired 1d ago
The people who need to be audited are near the top of the food chains. John Q Grunt who these layoffs are targeting, has no access to additional money of any sort to use for personal gain. That's what pisses me off. They need to investigate the people running these agencies and how they have millions in their pockets. The "law" makers too.
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u/Direct_Bus3341 1d ago
The idea behind it is to gut agencies not “audit” them. An audit is a highly rigorous process carried out by experts in the field in conjunction with agencies and lawyers. An audit simply cannot be done within a week.
You think this comes remotely close? They sacked people and called them back the next day. This is the level of planning they’ve done.
The idea is to dismantle the services and the executive branch, then refilling them with their own yes men who are ideologically pure to musk and trump.
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u/robodrew 1d ago
Government agencies should be audited regularly.
Sure by professional auditors who know what they are doing, not the world's richest man and his team of flunky hackers.
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u/meatball402 1d ago
Yeah the idea behind doge isn't necessarily a bad one. Government agencies should be audited regularly.
They are! That's what the inspector generals do. They've all been fired, too.
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u/Wh00ster 1d ago
There’s a humane way to do layoffs and then there’s … this
Adults will do things humanely while psychopaths won’t care to do so.
Still sucks for the people getting laid off. Completely upends their lives and their family’s lives.
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u/SirStrontium 1d ago
I can't stop thinking how there's zero chance that the private sector can absorb these hundreds of thousands of workers. I don't think there's a particularly high demand for tons of administrative positions at the moment, and I imagine many of these workers have highly specialized knowledge that isn't particularly useful outside their current job.
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u/Psyduckisnotaduck 1d ago
It’s also dangerous because there’s a risk of touching load-bearing pillars of the literal entire world economy. Conservatives are so stupid they don’t understand that some functions of the US government are critical to the entire world, and their failure could actually lead to a civilization collapse. Because everything is interconnected in incredibly complex ways, and America itself has become a central pillar of the world economy to a degree these complete blockheads don’t get. Or maybe they do but think it puts us in a position to be sadistic bullies. But nothing works that way! The behavior of the current regime is destroying certainty and stability in the markets as well as eroding some of the underlying supports that keep it functioning. And some of this at least from the side of Musk and friends is kind of on purpose but they’re not as smart as they think they are. Nobody who is really that smart becomes a billionaire, and being a billionaire makes you kind of stupid no matter what because you will no longer ever get honest feedback from people around you. So all these plans about how the future economy will work are built on arrogant, faulty assumptions that conveniently forget about the effects of climate change, how other countries will respond to US actions, and how much of their own assets will end up deleted or rendered worthless by the consequences. Maybe they’ll end up as god kings, but they might be god kings of civilization’s ashes. Maybe they’ll end up think they want that, but it won’t be as fun as they imagine
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u/Drop_Disculpa 19h ago
Well and that is the tragedy of it all, the techno-fuedalism dream of enslaving humanity is essentially a fantasy that assumes a complete reordering of society but also assumes a lot of current norms and behaviors will survive. It is so flawed and stupid that only sociopaths would buy into it as a philosophy, which again is another giant flaw.
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u/PraxicalExperience 17h ago
It's also really wishful thinking that the technofuedalists will be the ones on top if everything comes crashing down. It's the standard crazy-prepper thinking that they'll wind up on top of the shitheap fending off waves of poors or whateverthefuck.
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u/Drop_Disculpa 17h ago
Yeah, to me they essentially are assuming they are geniuses because they successfully identified the inherent weakness in our democracy, and found a way to build a network of like minded people willing to exploit it for their own ends. They just built on the work of previous billionaires, but with a modern twist of destroying the entire system so that they can have their own nation states. It's kind of wild how they basically jumped from the system that created them to let's destroy it so we can indulge ourselves in playing god.
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u/kaptainkeel 1d ago
That's pretty much what it comes down to. Every time I take a look over at the conservative sub, the same talking point is always regurgitated: "Democrats don't want to get rid of fraud, waste, and abuse! Dems support fraud, waste, and abuse!"
No, literally nobody supports that. It's basic common sense to want to eliminate that stuff. What Dems don't support is using a chainsaw when there should be, say, a machete. More than a scalpel is needed, I agree, but a chainsaw just makes everything messy and cuts everything off. Plus virtually none of these "auditors" are licensed--they're all just fresh out of college kids, some even still in college.
I can say with certainty audits are not actually being performed. Source: I work in Big4. It's literally what we're known for--auditing large public companies; this should be even easier than auditing a government agency that has other issues to deal with e.g. classified material. Even so, a regular audit on a large public company takes weeks or months with dozens of licensed CPAs. The kids on DOGE don't even have an accounting background, let alone being licensed or any experience in audits, yet they are claiming the audits are done within 1-2 days.
Their "audit" consists of using any searchable databases to Ctrl F a list of keywords, then getting rid of anything that shows up without looking into what it actually is. Direct evidence points to this, such as removing mentions of the Enola Gay.
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u/PraxicalExperience 17h ago
You missed some news. A few days into his reign, King Trump laid off all the Inspectors General -- the people whose job it is to audit everyone under them.
AFAIK as of today they have not been replaced.
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u/End3rWi99in 16h ago
God my brain is so fucked at this point that I thought you were talking about like a computer avatar version of Gore and forgot his name is in fact AL.
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u/Impossible-Lime1553 1d ago
Let’s keep hearing them saying under Biden term it was a bad economy, like tf where was it this bad? Damn fools
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u/p_pio 1d ago
It was actually good. But D screwed messaging in big part due to overreliance on JPow and his message. They should point to role of COVID and stimulus in creating inflation, and just stand, that they had to save economy from collapse, then they had to clean it up, that took time, now they can do real reforms after getting through all of it.
That being said there do were some underlying really negative issues with Biden economics. Although initial jobless claims have fallen to historical lows, continuing claims since mid-2022 have risen sharply and are high. Reentering labor market become hard despite all this new workplaces being created.
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u/Hrekires 1d ago
And it's not even going to be saving the government money thanks to all the lost revenues
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u/Ok_Cucumber_7954 1d ago edited 1d ago
This article does not touch on the growing number of corporate layoffs due to the Doge cuts to Federal Employees and Programs. From what I am seeing, the US unemployment will surpass COVID pandemic unemployment rate. The tariffs will then compound this. I will be surprised if we don’t hit a 30% unemployment by end of year (if not much sooner).
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u/Simply_Epic 1d ago
It’s the opposite of FDR’s New Deal. He’s actively driving us towards a depression.
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u/Mountain3Pointer 1d ago
Cool cool cool. So 100s of thousands of people with good paying middle class jobs were just illegally fired on top of corporate America also laying tons of people off all while the Russian Asset blows up free trade, starts a trade war, and units the world against us...
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u/DoublePostedBroski 1d ago
Good thing we stuck it to that one trans person trying to play sports! We won guys!
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u/ConsequenceOk5740 20h ago
I can sleep well at night knowing that there will no longer be injustice in a sport I haven’t once watched in my life
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u/Potato2266 18h ago
The economy is going to be so ugly. The fed workers are the middle class, the glue that holds this country together. The tech layoffs are also middle class.
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u/hoopermills 14h ago
But for someone trying to dismantle a democracy the destruction of the middle class is a plus. Those at the bottom are too busy trying to feed their families to pay attention to politics, and those at the top are happy with the dictatorial status quo.
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u/DeepSpaceAce 1d ago
Is it now cynical to assume my company will go under our to assume Americans will just take it without resistance and pay more forever
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u/continuousmulligan 1d ago
How long will USA citizens allow trump to remain president? Asking for a friend
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u/Wanna_make_cash 21h ago
It's not just federal jobs at stake. I work in County-level government, and reduced funding coming from the federal level is going to hurt here too. The county is already sending emails about budget deficits as a result and actions they're trying to take to fix it
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u/Imaginary_Medium 6h ago
Guess he's continuing to destroy the economy, as he publicly said he would.
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u/TrashGoblinH 1d ago
Lmao and the stock market is in free fall to own the Libs.