Analyzing DOGE Actions One Month Into Trump’s Second Administration

Aggregration of bylines. Summers:

Millions of Americans take for granted the fact that the government keeps its financial promises. Retirees expect their Social Security checks every month. Medicare providers expect to be reimbursed. Members of the military expect to be paid on time. Disrupting these payments or risking their cutoff threatens the livelihoods of these people and those who depend on them. Furthermore, any perception that the government is willing to renege on its financial promises could be seen as a threat to the creditworthiness of government debt. If U.S. Treasuries cease to be seen as a safe asset, it would have severe implications for the health of our financial system.