Jeff Bezos Counters Elon Musk-Led DOGE Cost-Cutting Plan, Says America Needs 'Growth Orientation:' Here's What The Amazon Founder Said To Tackle National Debt

Amazon.com Inc. founder Jeff Bezos offered an optimistic perspective on addressing America’s national debt crisis, emphasizing economic growth over spending cuts at the New York Times DealBook Summit on Wednesday.

What Happened: “The way out is by outgrowing them,” Bezos said, referring to economic challenges including the deficit and national debt. He advocated for boosting GDP growth to 3-5% annually while maintaining slower debt growth, rather than focusing on debt reduction itself.

“We need a growth orientation in this country. This is the most important thing… a growth mindset,” Bezos said.

His comments come as the U.S. economy showed 2.8% growth in the third quarter, though the International Monetary Fund projects concerning debt trajectories. According to IMF forecasts, U.S. gross debt as a percentage of GDP is expected to reach 121% in 2024 and climb to 131.7% by 2029.

Bezos’s growth-oriented approach contrasts with Tesla Inc. CEO Elon Musk‘s recent appointment to lead the Department of Government Efficiency (DOGE), where Musk aims to reduce federal spending and bureaucracy.

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Why It Matters: The DOGE initiative aims to address the federal government's annual $6.5 trillion in spending by identifying and eliminating waste and fraud. 

Highlighting America’s unique advantages, Bezos pointed to the country’s entrepreneurial environment. “You can raise $15 million in seed funding to pursue an idea with a chance of working. That’s incredibly hard for other countries,” he noted, adding that English’s status as a global language enhances communication of these ideas worldwide.

The Amazon founder also expressed optimism about potential regulatory reductions under President-elect Donald Trump‘s upcoming term, stating his willingness to assist in reform efforts while maintaining focus on economic growth rather than purely cost-cutting measures.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.