GAO Says DOGE Overstated Federal Savings Claims

MT Newswires Live

Aug 07

The US Government Accountability Office found Elon Musk's Department of Government Efficiency overstated its claimed savings from federal spending cuts, identifying transparency and reliability issues in the program's reported $110 billion in savings, CNBC reported Thursday.

The GAO said 2,503 of the 13,476 federal contracts DOGE claimed it had terminated showed no termination action, while reported savings from 264 lease cancellations were overstated.

The leases generated about $53.5 million in savings, not the $113 million claimed, CNBC reported.

The report also said about 108 of the terminated leases were already in the cancellation process before DOGE was established after President Donald Trump began his second term, CNBC reported.

The US news outlet also reported that both the GAO said DOGE did not respond to requests for information.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.0a0bd8dc.png","ogUrl":"https://www.etasphere.com/news/2657664624"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2657664624\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2657664624?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-08-07 07:42","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2657664624","market":"hk","top_or_hot":-1,"title":"GAO Says DOGE Overstated Federal Savings Claims","media":"MT Newswires Live","content":"<html><body><p> The US Government Accountability Office found Elon Musk's Department of Government Efficiency overstated its claimed savings from federal spending cuts, identifying transparency and reliability issues in the program's reported $110 billion in savings, CNBC reported Thursday.</p><p>The GAO said 2,503 of the 13,476 federal contracts DOGE claimed it had terminated showed no termination action, while reported savings from 264 lease cancellations were overstated.</p><p>The leases generated about $53.5 million in savings, not the $113 million claimed, CNBC reported.</p><p>The report also said about 108 of the terminated leases were already in the cancellation process before DOGE was established after President Donald Trump began his second term, CNBC reported.</p><p>The US news outlet also reported that both the GAO said DOGE did not respond to requests for information.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GAO Says DOGE Overstated Federal Savings Claims</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGAO Says DOGE Overstated Federal Savings Claims\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2026-08-07 07:42</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> The US Government Accountability Office found Elon Musk's Department of Government Efficiency overstated its claimed savings from federal spending cuts, identifying transparency and reliability issues in the program's reported $110 billion in savings, CNBC reported Thursday.</p><p>The GAO said 2,503 of the 13,476 federal contracts DOGE claimed it had terminated showed no termination action, while reported savings from 264 lease cancellations were overstated.</p><p>The leases generated about $53.5 million in savings, not the $113 million claimed, CNBC reported.</p><p>The report also said about 108 of the terminated leases were already in the cancellation process before DOGE was established after President Donald Trump began his second term, CNBC reported.</p><p>The US news outlet also reported that both the GAO said DOGE did not respond to requests for information.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GDOG","symbol_name":"Grayscale Dogecoin Trust ETF","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2657664624","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2657664624","pubTimestamp":1786059765,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"The US Government Accountability Office found Elon Musk's Department of Government Efficiency overstated its claimed savings from federal spending cuts, identifying transparency and reliability issues in the program's reported $110 billion in savings, CNBC reported Thursday.The GAO said 2,503 of the 13,476 federal contracts DOGE claimed it had terminated showed no termination action, while reported savings from 264 lease cancellations were overstated.The leases generated about $53.5 million in savings, not the $113 million claimed, CNBC reported.The report also said about 108 of the terminated leases were already in the cancellation process before DOGE was established after President Donald Trump began his second term, CNBC reported.The US news outlet also reported that both the GAO said DOGE did not respond to requests for information.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"GDOG":"Grayscale Dogecoin Trust ETF","TMF":"3倍做多20年期以上国债ETF-Direxion","DOJE":"REX-Osprey™ DOGE ETF","TLTW":"iShares 20+ Year Treasury Bond Buywrite Strategy ETF","TLT":"20+年以上美国国债ETF-iShares"},"translate_title":"美国政府问责局称总督夸大了联邦储蓄主张","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"US6M.BOND":1.5,"US30Y.BOND":1.5,"US5Y.BOND":1.5,"US2Y.BOND":1.5,"TLTW":0.6,"US10Y.BOND":1.5,"DOJE":1.5,"US12M.BOND":1.5,"TLT":0.6,"US3Y.BOND":1.5,"US7Y.BOND":1.5,"GDOG":1.5,"TMF":0.6},"content_text":"The US Government Accountability Office found Elon Musk's Department of Government Efficiency overstated its claimed savings from federal spending cuts, identifying transparency and reliability issues in the program's reported $110 billion in savings, CNBC reported Thursday.The GAO said 2,503 of the 13,476 federal contracts DOGE claimed it had terminated showed no termination action, while reported savings from 264 lease cancellations were overstated.The leases generated about $53.5 million in savings, not the $113 million claimed, CNBC reported.The report also said about 108 of the terminated leases were already in the cancellation process before DOGE was established after President Donald Trump began his second term, CNBC reported.The US news outlet also reported that both the GAO said DOGE did not respond to requests for information.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"policyRegulatory","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}