'This Is How Recessions Start' — Mark Cuban Says Elon Musk's 'Ready, Fire, Aim' Reckless Approach Is 'No Way To Govern' And Could Tank Economy

The economy's been a hot topic lately, and not in a good way. A CNN poll published Wednesday found that 56% of Americans disapprove of how Trump has handled it since his return to office. And if you ask Mark Cuban, he'd probably agree.

On March 2, Cuban took to social media to sound the alarm on what he sees as a major economic threat: sweeping federal budget cuts and the fallout from abrupt government downsizing. His message? The way these cuts are being handled—what he called a "Ready, Fire, Aim" approach—could send the economy into a tailspin.

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What Cuban Actually Said

"This is a bigger issue than people realize. Not just jobs lost. But their families losing benefits. Landlords losing tenants. Cities and towns losing revenue. This is how recessions start," Cuban wrote on BlueSky. "Ready, Fire, Aim is no way to govern."

He was responding to reports of massive layoffs and furloughs caused by deep budget slashes from the Department of Government Efficiency—a government agency run by Elon Musk and tasked with cutting costs. 

The Real-World Impact

Cuban wasn't just making noise—he was pointing to real consequences. The latest employment data backs up his concerns. ADP's February jobs report showed private-sector hiring plummeting to just 77,000 jobs, far below the expected 148,000. Government-heavy industries like education and health services lost 28,000 jobs. And in another troubling sign, overall layoffs spiked 245% in February compared to January, with over 62,000 directly linked to these government cuts.

Last month alone, 10,000 government jobs vanished. Many of those let go were given buyouts, but thousands are now suing to get their jobs back.

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The Domino Effect

Cuban highlighted something often overlooked: job cuts don't just affect the people laid off. They create a ripple effect. Families lose health insurance. Local businesses lose customers. Landlords struggle with unpaid rent. Cities take a hit from lost tax revenue. It's a chain reaction that, if left unchecked, could push the economy toward a downturn.

And the signs aren't good. The Atlanta Fed's GDPNow tracker projects a 2.4% contraction in the U.S. economy for the first quarter of this year. A recession, as Cuban warned, isn't just a possibility—it's a growing risk.

Cuban's Call to Action

While warning about the crisis, Cuban also urged workers affected by the cuts to pivot toward entrepreneurship. He's even offering financial backing for those looking to start consulting firms to help fill the efficiency gaps left by the government downsizing.

See Also: Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'

But his core message remains the same: recklessly slashing government jobs without a clear plan isn't just irresponsible—it's dangerous. And if history is any indication, the economic consequences could be severe.

The Big Picture

Whether you agree with Cuban or not, the numbers back up his concerns. Layoffs are climbing, growth is slowing, and uncertainty is creeping into the job market.

But not everyone is convinced a recession is on the horizon. Just last week, Federal Reserve Chair Jerome Powell reassured the public, saying, "The U.S. economy continues to be in a good place." Commerce Secretary Howard Lutnick echoed that sentiment, insisting Americans should "absolutely not" brace for an economic downturn.

So while Cuban sees warning signs, others believe the economy is still holding steady. The real question is—who's right?

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