The Department of Government Efficiency, led by Elon Musk, posted a list of canceled government contracts totaling $16 billion in savings, with a significant portion attributed to an ICE contract initially listed at $8 billion but later corrected to $8 million. The website overstated total savings at $55 billion without specific documentation, and after scrutiny, it was revealed that canceling the ICE contract likely saved only $5.5 million at most. Despite acknowledgment of potential errors by Musk, the department did not respond to requests for clarification on their accounting practices.
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50% steel and aluminum tariffs take effect today. Here’s what could get more expensive.
The Trump administration has raised tariffs on aluminum and steel to 50%, a move that could significantly increase the costs of various consumer products, including cars, sports equipment, and canned goods. While the tariffs are designed to bolster domestic manufacturing, experts warn they may lead to higher prices as manufacturers typically pass on increased costs to consumers, potentially raising car prices by up to $3,000. This change may also negatively impact low-income households, which could...
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