U.S. spending rises despite DOGE cuts

Elon Musk, who heads up the Trump administration’s Department
of Government Efficiency (DOGE), has failed to stop U.S. federal
spending hitting a new record high for the month of February

FEDERAL SPENDING ($bn)*

PRESIDENT OBAMA
TRUMP x 2
BIDEN

2009 2011 2013 2015 2017 2019 2021 2023 2025

0
200
400
600
800
1000
1200

281.2
328.4
333.2
335.1
326.4
337.9
331.8
361.8
363.8
370.9
401.2
423.2
559.2
506.4
524.6
567.4

FEB 2025
603.4

Jan 30, 2020-May 5, 2023: Covid-19
declared public health emergency
of international concern by WHO

Russia
invades
Ukraine

DOGE is estimated to
have axed 220,000
federal jobs so far
this year, with more
sackings expected

Nodes track Feb of each year

Sources: Financial Times, Fiscal Data, Newsweek
*Monthly outlays
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