➡ The Millionaire Morning Show w/ Anton Daniels talks about how Elon Musk, as the co-head of the Department of Government Efficiency, is suggesting the elimination of the Consumer Financial Protection Bureau and the IRS, arguing that they are redundant and inefficient. He believes that these agencies are outdated and are merely overseeing other agencies that already perform the same tasks. Musk also criticizes the F-35 fighter jet program as a waste of money, suggesting that drone technology could be a more efficient alternative. His goal is to cut $2 trillion in federal spending.

➡ The F-35 fighter jet program, which is over budget and behind schedule, has been criticized for its inefficiency and high costs. Despite this, over a thousand F-35s have been delivered and have shown success in training simulations. However, some argue that the future of warfare lies in cheaper, risk-free drone technology, which is being developed by countries like Turkey, Iran, and China. Despite the criticism, some experts believe the F-35 program is too important to fail, and it remains a cornerstone of the U.S. military’s tactical aircraft capability.

Couple different articles that we want to go over. First, Elon Musk is targeting potentially two federal agencies in order to make sure that we save money and that they don’t have a lot of overreach. Check it out. Time for the hot topic of the hour. Tesla CEO and co-head of the new Department of Government Efficiency, Elon Musk, is calling for the elimination of the Consumer Financial Protection Bureau. Writing on next quote, delete CFPB. There are too many duplicative regulatory agencies. The CFPB was created as part of the 2010 Dodd-Frank Act after the financial crisis by Massachusetts Senator Elizabeth Warren to oversee parts of the financial industry that interact with consumers.

Some say the agency is highly politicized, damaging and unaccountable. During Trump’s first term, he took steps to neutralize this agency, easing its enforcement of the banks. Musk also is asking users on X if the IRS should be quote, deleted after the agency said its enforcement fund is 20 billion short after budget cuts. Biden’s Deputy Treasury Secretary urging Congress to quote, pay up. You can see in that poll over 60% of X users said they think the agency’s budget should be deleted. John Lasky, your reaction to that. Let’s start with the IRS. Okay, the IRS could be run more efficiently without any question.

Maybe their technology is dated. They could update in that sense and help save money and better serve the American people. I don’t know about completely eliminating the IRS. What’s going to take its place? My goodness. What are you going to have? Private tax collectors like they did back in biblical times? I think what he’s talking about is eliminating Elizabeth Warren. We’re talking about the I mean, that’s that’s okay. Elizabeth Warren. She came to fame. She became, you know, Miss TV darling. So she thinks, uh, after the financial crisis. Remember this. Okay.

I remember this. And but that’s all she’s been able to hang her hat on. That was the financial crisis was 2007, 2008. We have moved on. I don’t think that she has. And I would argue that there’s enough regulation on the books with the banking industry that you actually could eliminate that agency. Best thing in my 20 year career in government, I’ve seen this many, many times. And this is a very healthy discussion to have right now. And what it does is it says that the existing agency, so how are you going to justify your existence, sing for your supper? And then, but then it also begs the other question.

If you eliminated it, would you need to replace it? And that’s really the zero sum game that you have to take a look at. What are we going to do if we don’t have this functionality? But to your point, Cheryl, this is an agency that has all of its opposite, all of the regulatory responsibilities handled by other agencies. It’s not like if this goes away, suddenly the US consumer is going to walk into a bank and say, pay us 20% interest. No, that’s not going to happen. So wait a minute. You’re telling me that this agency, and I see you inside of the chat saying that, uh, you’re a loan officer and you deal with this on a regular basis, says Dre.

Okay. So wait a minute. So the agency is an overseer of other agencies that already do what it is that they have to be done on the books. So then that means that they just a middle man. And this is one of the reasons that you need to the department of government efficiency, because why do you need an agency that has outdated technology overseeing a bunch of other agencies that are already mandated and overseen by the federal government? I don’t understand. So they just in there to be in there and they taking up resources and we just giving jobs to people that is basically stealing from taxpayers.

Mike is making a great point. What he’s speaking about is redundancy in the federal government. When we have redundancy in the private sector and corporations, what happens? Certain departments, jobs get eliminated and maybe there is room for a lot of, uh, cutting as far as agencies are concerned and individuals. Well, I mean, look, I get it. I got to go back to this Elizabeth Warren thing because she, her entire political mantra has been greedy corporate. She’s gone after the banking sector for nearly 20 years now. And I think that Musk makes a great point.

That made me time is up for her. Uh, now the committee for responsible federal budget is trying to help doge make cuts. They say the federal deficit could be slashed by 1.4 trillion over the next decade by reversing some of president Biden’s executive actions. Now their report notes, unlike most reduction measures, reversing costly executive actions would not require congressional action. True. And could be done through the rulemaking process. Yeah. That’s the first thing that, that Biden did as soon as he got in the office in 2020, when you know, Trump was removed from office.

The first thing that he did is he rolled back all of the executive actions that Trump had took. And then the next thing he said was, we’re not going to build another inch of border wall while I’m in office. That’s the first thing that they did that they said that Biden did is as soon as he got in the office, is that he rolled back all of the executive actions of Trump, which is one of the reasons why our borders were so wide open immediately right after Biden took office. Yet we still had a pandemic on our hands and they were more concerned with making sure that you took the jab than they were on protecting our borders that ultimately made our cities unsafe.

You don’t need them. That is, that is absolutely true. CRFB says to 550 billion can be saved by eliminating Biden’s plans to forgive student loan debt, including the safe income driven repayment program, which couldn’t save up to handouts. If you go in and you decide that you wanted to take out student loans and party on campus, campus and get an African-American studies degree, guess what? You’re going to have to pay that back. Yes, you are. You are going to have to pay back. If you went on campus and you took out student loans and you didn’t get a STEM degree and you took out more than you really needed.

And you decided that you wanted to go and get some dribbles and some emblems back in my day. That’s what we used to go and get some dribbles. Some people ain’t familiar with that. Now we only rocking Levi’s, hopefully not the boot cut ones. And you wanted to party and you wanted to go to tech world and the Afro tech and you want to get into African-American studies degree or underwater basket weaving degree. Guess what? You have to be responsible for that. That is not the taxpayers responsibility to do that. It’s not the taxpayers responsibility.

Nope. Own through an 85 billion could be saved by targeting Biden’s healthcare executive actions under 80 billion by reversing changes to the SNAP food stamp program, 150 billion from gutting vehicle carbon emission rules. That’s a long list. John Lonsky. That is a long list. And unfortunately, you’re probably going to get some opposition because there are people that are benefiting from these regulations. Okay. They’re benefiting from this spending. They don’t want to give it up. As in private business, as an industry, you know, the auto industry has perhaps spent something like 120 billion dollars on investments and being able to produce EVs and the batteries that go into electric vehicles.

They’re not going to want to write off 120 billion dollars all that quickly. So the EV mandates though, no one’s, no one has bought electric cars. The consumers rejected it. The EV mandates are just nothing, but I think just government handouts to, to, to, and you know, who’s not benefiting from that? Elon Musk of all people. Yeah, he’s going to head and he’s pushing for the elimination of the subsidies, the buyers of electric vehicles. Yeah. So this, I mean, you can’t say that he’s doing this for his own benefit. That’s important to note.

He’s trying to help the United States out and maybe. So let’s pivot for a second because Elon Musk is also saying, now this could probably be a little bit more controversial that the F-35 program, and I’m sure that some of my military people and my air force people can give me even more insight on this, that my, that the F-35 program is a money pig and that it probably needs to be eliminated and that fighter jets are basically obsolete, especially now that we have drone technology. Check it out. In a move that could shake up US defense spending, Elon Musk is targeting the military’s most expensive weapons program, the F-35 fighter jet, calling it the worst military value for money and history.

As head of Trump’s new department of government efficiency, Musk is aiming to slash $2 trillion in federal spending and defense contractors appear to be in. Prince, hold on, let me, before we get into this, let me address this really quickly. Prince Warring Angel says, you love that part when people struggle. What part? What part when he said people struggle? Is that for me, Prince? Prince, let me know. What exactly do you mean by that? And please capitalize and then put a proper, proper periods and commas so that I can understand, so that I don’t misread.

Because sometimes, sometimes I’ll give you all that I misread what people are trying to say or what their intention is. And maybe they talking about somebody on the, on the screen or they talking to somebody in the chat. Give me some insight, Prince Warring Angel, because I like to interact with the chat. It is Friday, you know, we on our last story. And so I want to make sure that I give you all the proper acknowledgement. Prince, what do you mean by you love that part when people struggle? Please give me a little bit of clarification.

And if you want to call in, let me know and I’ll drop the link in the chat just for you. Meanwhile, some idiots are still building manned fighter jets like the F-35. He went on to say the F-35 design was broken at the requirements level because it was required to be too many things to too many people. This made it an expensive, complex jack of all trades, master of none. Success was never in the set of possible outcomes. And manned fighter jets are obsolete in the age of drones. Anyway, we’ll just get pilots killed.

The F-35 program has long faced criticism over efficiency. It’s $180 billion over budget, more than a decade behind schedule and struggles with reliability. According to Alan, if you want to call in also, you more than welcome to do. So let me know. Prince and Alan, Prince and Alan, let me know if y’all interested in having a quick conversation. Not long, just a quick conversation because I want to understand you guys. I want to understand exactly what you mean by that. Okay. Government reports. Yet over a thousand F-35s have been delivered and in training simulations, they’ve achieved a 20 to one kill ratio against enemy aircraft.

Still, the program is expected to top a staggering $1 trillion in total costs. That’s a lot of money. That’s a lot of money. Cost per unit includes maintenance costs, risk to human life, scalability and operational flexibility. In comparison, an F-35 costs anywhere from $80 million to $135 million per jet, depending on model. While small drones, like the ones being mass produced in Ukraine, cost as little as $10,000. Drones can operate in swarms guided by artificial intelligence and don’t put pilots lives at risk. The U.S. program currently relies on expensive predator drones costing about $12 million, but much cheaper drones are being made by Turkey, Iran and China.

Even on the higher end, one of Ukraine’s newly developed missile drones cost less than a million dollars. How come Alan and Prince ain’t in the chat no more? Where did they go? Why did they all of a sudden stop typing? Alan and Prince, are y’all in the chat? You don’t have to come up on camera. Y’all don’t have to come up on camera. We cool? I don’t have no problems. Here, let me put this in there for y’all. There y’all go. Just in case y’all wanted to explain it to me, uh, I just put the, I put it in there for Alan and Prince along.

While most comments led to a 3% drop in Lockheed Martin stock price, some experts argue the F-35 is too big to fail. In 2021, Air Force Chief of Staff General Charles Brown Jr. stated the F-35 was nowhere near a failure, saying the F-35 is the cornerstone of our tactical aircraft capability. But it’s worth noting this statement was a clarification to Brown’s previous statement indicating the F-35 has a more narrow range of abilities on the modern battlefield. Listen, we can go through all of the technical capabilities and all of that. Really, this just, this just comes down to, um, I think that this personally and, and I have to be objective here, uh, this, even though it’s an egregious amount of money and I always just believe that they can find savings instead of just randomly spending a trillion dollars every single year, single year on a program.

Um, this comes back down to national safety versus government efficiency. And so this is one of the things, one of the departments that I think that we have to be a little bit more mindful and you can’t just cut out. Now, if you’re talking about different departments that’s doing redundancies and a bunch of, bunch of lunch ladies that’s in there coming in talking about they don’t want to work and they don’t want to come into the office. They just want to work from home and they’re going to over-regulate things. And that’s one conversation that I think that is easy.

That is low hanging fruit. Where’s Alan and Prince? Don’t worry. I’m a, I’m a drop it back in there just in case y’all forgot. Um, that’s an easy low hanging fruit. But when you’re talking about military spending and I think that there could be some efficiencies in military spending and we talk about, you know, replacing the F 35 with drone programs, I think that that’s something that we have to mine out. I don’t think that that’s just something that you could just cut out immediately. You know what I’m saying? So we got to be a little bit more careful with that.

I’m not willing to just 100% cut out the manufacturing of certain aircraft. Um, just off of a tweet. I understand that that’s the way that we communicate. I’m not willing to just kill that. Um, just off of the tweet. You know what I’m saying?
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