David Sacks Trump's New Dept of Government Efficiency Is Critical To Increasing Economic Growth

[00:00] David explain to our audience the

[00:02] significance of Doge the department of

[00:05] government efficiency two men that you

[00:07] know Elon and V are going to be going

[00:10] after waste fraud abuse and try to find

[00:13] efficiency in government explain it to

[00:14] our

[00:15] audience absolutely well the the bottom

[00:18] line is that the United States is on a

[00:20] path towards bankruptcy we have a $2

[00:22] trillion doll deficit every year uh we

[00:25] are already our debt is so large now

[00:28] that our interest payments are over

[00:30] trillion dollar a year it's the getting

[00:32] to be the single largest item in the

[00:33] budget is bigger than what we spend on

[00:35] defense spending on the Pentagon it's

[00:38] something like 20 to 25% now of federal

[00:40] revenue is just going to interest

[00:41] payments on the debt and this is a very

[00:44] unsustainable path and the debt is

[00:47] continues to grow so unless we somehow

[00:49] reform government spending this country

[00:51] is going to go broke moreover what is

[00:54] that spending getting us we have

[00:55] something like 450 federal agencies now

[00:58] a lot of you know issuing regul ations

[01:00] it's creating a morass it's very hard to

[01:03] operate a business without violating one

[01:05] of these regulations it's you know

[01:08] increases the cost of compliance you

[01:10] have to hire a lot of lawyers and

[01:11] accountants to do anything and so you

[01:14] know a lot of the spending isn't really

[01:16] helping it's hurting it's acting as a

[01:17] break pedal on the economy so I think

[01:19] the point of Doge is let's get the

[01:22] federal budget on a more sustainable

[01:24] trajectory and at the same time make

[01:26] America more competitive and increase

[01:29] economic growth

[01:31] and and by the way we're very lucky to

[01:32] have no please D yeah please yeah we're

[01:35] very lucky to have two really business

[01:37] Geniuses uh Elon and V contributing

[01:40] their time to do this they're doing this

[01:41] for free because they love the country

[01:43] they've both been extremely successful

[01:44] in business Elon obviously is the most

[01:47] successful entrepreneur maybe of all

[01:50] time but certainly of our of Our

[01:52] Generation and V was also very

[01:54] successful in business before getting

[01:56] into politics so I think for these two

[01:59] real heavy weights I mean intellectual

[02:02] Giants to devote their time to doing

[02:04] this and they are very serious about it

[02:06] it's um it's uh really a wonderful thing

[02:08] for the country