Viktor Shvets on what DOGE Is Getting Wrong on US Government Spending
Representative Robert Garcia, a Democrat from California, points to a display during a House Oversight Subcommittee on Delivering on Government Efficiency (DOGE) hearing in Washington, DC, US.
Photographer: Daniel Heuer/BloombergHello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it's us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it's contributions from our network of expert guests and sources. Whatever it is, we promise it will always be interesting.
Today, we’re bringing you thoughts from Viktor Shvets, Head of Global Desk Strategy at Macquarie Capital and a favorite Odd Lots guest. The views expressed in this article are solely those of Viktor Shvets and do not reflect views of Macquarie.
If you like chatting with us, check out the Odd Lots Discord, where you can hang out and talk with us and with other listeners 24/7.
There’s been a blizzard of news about government waste, with Elon Musk and his DOGE team rooting out inefficiencies and fraud. But the focus on dramatically axing federal spending misses the wood for the trees.