Insight: US Government Efficiency Department (DOGE) Shows Results, Significant Decrease in Actual Borrowing Needs by US Treasury

April 29th. On Monday, the U.S. Department of the Treasury disclosed its updated estimation for net borrowing during the second quarter. This figure is $391 billion higher than the February projection. The reason for this is that the U.S. Congress has not yet raised the federal debt ceiling, and the beginning-of-quarter cash balance for Q2 is much lower than previously anticipated. The Treasury Department stated that if we set aside the beginning-of-quarter cash balance factor, the borrowing estimate for Q2 is actually $53 billion lower than the February projection. Analysis by Zerohedge indicates that this implies that the efficiency department led by Musk, also known as the "DOGE" department, is indeed making advancements. This is because the fiscal situation has improved and the U.S.'s funding requirements are actually decreasing. Total revenue is slightly higher than the same period last year, and expenses are close to the lower end of the historical range.