this post was submitted on 19 Feb 2025
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Trump and Musk froze USAID funding to put Americans first. US citizens are feeling the impact. (www.businessinsider.com)
submitted 3 days ago by MicroWave@lemmy.world to c/economics@lemmy.world
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Summary

Trump’s 90-day freeze on USAID funding, intended to curb wasteful spending, has led to at least 12,700 American job losses, especially in North Carolina, a major recipient of USAID contracts.

Contractors, universities, and small businesses tied to USAID face layoffs, financial uncertainty, and lawsuits challenging the freeze.

Critics argue the move harms US workers more than foreign aid recipients.

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[–] slazer2au@lemmy.world 2 points 3 days ago (1 children)

It should be a shock to no one that any "saved" money is a lie.

If a 5 year contract for $100M is in year 4 then at least $80M has been spent. With them really only "saving" the remaining $20M

[–] FuglyDuck@lemmy.world 2 points 3 days ago* (last edited 3 days ago)

And then the contractor sues and gets the 20m, interest, legal fees, and all that work stoped wasting the entire effort anyway. Oops.

Yeah. People who buy their bullshit are dumb.