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Elon Musk's DOGE claimed $160 billion in federal savings, but Congress rejected most cuts. A CBS News analysis found the experiment may have cost taxpayers $135 billion.
The Department of Government Efficiency claims $160 billion in savings from federal workforce reductions, but a CBS News analysis shows the cuts have cost taxpayers $135 billion in severance, lawsuits, and economic disruption.
The Partnership for Public Service estimates that DOGE's mass federal workforce cuts have cost taxpayers $135 billion through paid leave, rehiring, lost productivity, and legal expenses, nearly erasing the $160 billion in claimed savings.
A nonpartisan analysis from the Partnership for Public Service estimates that DOGE's federal workforce cuts have cost taxpayers $135 billion in fiscal year 2026, nearly erasing the $160 billion in claimed savings.
The personal savings rate dropped to 3.6% in December as wages grew just 0.2%, the slowest in seven months, revealing an American consumer economy increasingly reliant on credit and wealth effects.
Paying down debt is the number one financial goal for Americans in 2026 as total household debt hits $18 trillion, credit card delinquencies spike, and 54% of households reduce emergency savings to cover rising costs.
The 10-year Treasury yield fell to 4.06% on February 13, its lowest since December, as cooling inflation data sparked the biggest bond rally of 2026 with implications for mortgages, savings, and portfolios.
Despite three Fed rate cuts in 2025, top CD rates remain near 4% APY in January 2026. Here's where to find the best yields and how to maximize your savings.
Fidelity reports a record 654,000 401(k) millionaires and average balances at all-time highs. Here's what's driving the retirement savings boom and lessons from the seven-figure savers.
With consumer sentiment crashing, AI disrupting tech portfolios, and the Fed holding rates, here are seven specific moves to protect and grow your 401(k) and IRA in 2026's most turbulent investing environment.
Money market fund assets reached $7.80 trillion in the first week of February 2026, with yields near 4.5% delivering positive real returns above inflation for the first time in years.
The IRS has raised 401(k) contribution limits to $24,500 for 2026, with a new 'super catch-up' provision allowing workers ages 60-63 to contribute up to $35,750 annually.