Kevin O’Leary
‘Shark Tank’ star and famed investor Kevin O’Leary
John Roberts: Here’s a breakdown of federal spending, just so that folks at home know where their tax dollars are going. Health care, 25%, Social Security, 20-25%, defense, 13-15%, safety net programs, 10%, interest on the national debt, 8-10%.
The way it breaks down is, 61% of spending is mandatory, 13% is on debt service, 26% is discretionary, which really will be the target of DOGE. That is a small piece of the pie to try to wring $2 trillion out of Kevin.
Kevin O’Leary: I don’t know I think health care could be another place of savings. We haven’t really used any technology there yet. We haven’t really digitized medical records. We really haven’t brought a mandate of AI into that. I think we could save a lot of money. The US has one of the worst IRR returns on health care spending when you can compare it to some of the European countries like Switzerland, or England, or France, they do a much better job, but they share the records on a much more ubiquitous basis that we do. We’re always concerned about privacy, but I think we could fix that too. But I like looking at everything.
I don’t see any reason why these two can’t just release the hounds and go nuts. Everybody’s interested to find out what they’re going to see, and I’d like to hear it myself because maybe it’s a means test on Social Security.
We have to fix this because the deficit is getting a little big right now, and the bond market is starting to get a little bit uneasy in the 10-year. I worry about that.
John Roberts: Yeah, I mean, there’s no question that Social Security is something that might need to be looked at. But Simpson Bowles said, ‘Let’s look at that.’ And Republicans in Congress said, No, not going to touch that. So Elon Musk is having no end of fun with all of this.
America, his PAC, produced this tweet saying, ‘The Pentagon just failed its seventh audit in a row. The nation’s largest government agency is unable to fully account for its budget of over $824 billion. They don’t even know where billions of taxpayers money is going. Efficiency is coming.’ To which Musk retweeted with a comment, ‘Sounds like a job for Doge.’
He really looks like he’s looking forward to getting into the numbers here.
Kevin O’Leary: I rest my case, your honor. Here he goes. He’s just going to keep on these guys, hitting him every day to a billion people that are willing to listen, and the head squeezing begins.
I love head squeezing. This is fantastic.
They’re going to think he’s going to go away. No, he won’t. He’ll just keep going and going and going and going, and no one’s going to stop him. He owns a network.
We’ve never had anything quite like this, and I absolutely love it. This is terrific.
Watch:
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