President Donald Trump's new Department of Government Efficiency (DOGE), which is looking to reduce federal costs, has some Americans wondering if they should expect a stimulus check, courtesy of the savings.Why It MattersDOGE, led by Tesla billionaire Elon Musk, has recommended mass layoffs in the federal government as a means to eliminate $2 trillion yearly in funding from major U.S. agencies.As Americans haven't received stimulus checks en masse since 2021, some are hoping the DOGE cuts could open the door to further payments sent to Americans.What To KnowAmericans online have been urging DOGE to release stimulus checks, with one viral TikTok saying taxpayers could get as much as $8,000 due to the department's federal cuts.Azoria investment firm CEO James Fishback also posted on X that money from DOGE's savings should be sent back to American taxpayers as a 'DOGE Dividend.'"American taxpayers deserve a 'DOGE Dividend': 20% the money that DOGE saves should be sent back to hard-working Americans as a tax refund check," Fishback said on the social media platform. "It was their money in the first place! At $2 trillion in DOGE savings and 78 million tax-paying households, this is a $5,000 refund per household, with the remaining used to pay down the national debt. @ElonMusk, let's do this! This is how we rebuild trust in our government."How Much Money Has DOGE Saved So Far?According to the DOGE live tracker, $55 billion has been saved due to Musk's recommended cuts as of Tuesday.DOGE's most substantial cuts have targeted the federal government workforce, specifically agencies like the United States Agency for International Development, which has had its funding slashed by $420.14 million, according to Polymarket.Other major reductions are planned for the Food and Drug Administration, National Institutes of Health and the Centers for Disease Control and Prevention.Musk also posted about his desire to reduce fraud in Social Security, writing on X: "According to the Social Security database, these are the numbers of people in each age bucket with the death field set to FALSE! Maybe Twilight is real and there are a lot of vampires collecting Social Security."Trump has also mandated all federal workers to return to the office and implemented a federal worker hiring freeze.Will Americans Get a Refund Check From DOGE's Savings?There has been no indication that DOGE's cuts will result in a refund check for Americans.The $2 trillion targeted in yearly savings would likely be used to help reduce the national debt and approve future tax cuts.What People Are SayingAlex Beene, financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "While a future stimulus check isn't impossible and certainly could be seen as a goodwill gesture to show taxpayers of all the supposed money that's been saved with these cuts and aid as financial support during high inflationary times, the unfortunate reality is odds of checks being sent out are fairly low. Even with the potential savings of recent cuts, stimulus checks are an incredibly expensive endeavor for a government already deeply in debt and facing no pandemic-level emergency to undertake. I would expect legislators will hold out hope of new proposals like tax cuts and less restrictions on some government benefit programs as a way to steer eyes away from stimulus checks being the sole way to help Americans."Kevin Thompson, finance expert and founder/CEO of 9i Capital, told Newsweek about the likelihood of another stimulus check under DOGE: "Absolutely not—and it wouldn't be good for the economy. If people thought inflation was bad last year and prices are still stubbornly high now, imagine what would happen if we pumped even more money into the system. It would be like giving a donut to someone managing diabetes—not exactly a good combination."Michael Ryan, finance expert and the founder of MichaelRyanMoney.com, told Newsweek: "DOGE finding waste is more like catching billing errors. It just means we're borrowing slightly less money, not that we suddenly have extra cash to spread around. When DOGE talks about 'saving' $55 billion by catching fraud and waste. That's kind of like us finding a coupon when we're already maxed out on our credit cards. Sure, it's great that we're spending less. But it's not like the grocery store is going to hand us cash back - we're still deep in the red."What Happens NextThompson said the Trump administration is focused on reducing spending, not increasing it through additional stimulus checks."Any budget adjustments will likely come through extending the Tax Cuts and Jobs Act (TCJA), which would require $4.5 trillion to maintain those benefits. I expect policymakers to use any savings to pay for the extension of the TCJA by offsetting future liabilities."