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Fortune

Beatrice Nolan

DOGE’s claimed contract savings of $24.8 billion are ‘overstated,’ BoA says

DOGE BoA Elon Musk Fortune Bank of America Securities General Dynamics

Elon Musk standing in the oval office with Donald Trump sat behind. (Credit: Photo by Andrew Harnik/Getty Images)

DOGE's cost-cutting claims aren't adding up. According to Bank of America Securities analysts, the team's reported $24.8 billion in savings is "overstated." DOGE has previously miscalculated contract values, with some numbers inflated by billions.

DOGE's savings from canceled or renegotiated contracts appear to be "overstated," according to a note from Bank of America Securities.

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