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Business & Economy
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Business & Economy
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Khanna finds common ground with Musk’s DOGE
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Rep. Ro Khanna (D-Calif.) on Monday suggested that Democrats could work with the Department of Government Efficiency to cut the defense budget.
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© Alex Brandon, Associated Press
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President-elect Trump recently named tech billionaire Elon Musk and former GOP presidential candidate Vivek Ramaswamy as co-heads of the new government efficiency panel, known as DOGE.
After CNN anchor Jim Acosta asked Khanna if those two should have that much sway over “what stays and what goes in the federal government,” the California Democrat said, “Well, ultimately, they’re going to provide recommendations.”
That’s when Khanna said there could be bipartisan collaboration on defense, criticizing “waste, fraud and abuse” in the defense budget and noting the Defense Department “has failed the last six or seven audits.”
He also posted a clip of his CNN appearance from Monday morning on social platform X.
“When it comes to cutting waste, fraud, and abuse and opening the 5 primes to more competition, there are Democrats on [House Armed Services Committee] who will work with @elonmusk and @DOGE,” Khanna said in the post.
“Cool!” Musk replied to Khanna’s post.
The Hill’s Tara Suter has more here.
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Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley andTaylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.
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Key business and economic news with implications this week and beyond:
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The Federal Trade Commission’s (FTC) antitrust case against Meta, the parent company of Facebook and Instagram, will head to trial on April 14.
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Sen. Elizabeth Warren (D-Mass.) urged President-elect Trump’s pick for Treasury secretary, billionaire investor Scott Bessent, to not interfere with the Federal Reserve.
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Veteran news anchor Chris Wallace and CNN officially parted ways Saturday, with his final show featuring a montage of highlights from his short time with the outlet.
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Upcoming news themes and events we’re watching:
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The Conference Board on Tuesday will release the Consumer Confidence Index for November at 10 am E.T. on Tuesday.
- Minutes from the Federal Open Market Committee’s (FOMC) Nov. 6-7 meeting are scheduled for release on Tuesday at 2 pm E.T.
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Branch out with more stories from the day:
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Macy’s reported stronger-than-expected sales for the third quarter and said it’s delaying the release …
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Business and economic news we’ve flagged from other outlets:
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Dow jumps 400 points to new record close, Russell 2000 hits all-time high after Trump makes Treasury pick (CNBC)
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‘Huge relief.’ CEOs exhale after Trump taps Scott Bessent to lead Treasury (CNN)
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US farm groups want Trump to spare their workers from deportation (Reuters)
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Top stories on The Hill right now:
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A former anchor for ABC News claims years of working in a toxic work environment and enduring racist rhetoric from superiors led him to attempt suicide. Read more
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President-elect Trump won his biggest legal victory so far on Monday when special counsel Jack Smith announced he was seeking the dismissal of the two federal cases Trump was facing. Read more
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Opinion related to business and economic issues submitted to The Hill:
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You’re all caught up. See you tomorrow!
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