President-elect Donald Trump has announced the creation of the Department of Government Efficiency (DOGE) headed by Elon Musk, the chief of Tesla, and businessman Vivek Ramaswamy to reform the federal government’s spending.
The newly opened department will help fight fraud and unnecessary expenses in the U.S. government’s $6.5 trillion budget; Trump said that the agency would “eliminate the bureaucratic waste, reduce regulations, and unnecessary spending.”
DOGE will recommend large-scale reform across government and an “entrepreneurial approach to government” to the White House and OMB. In his comments, Musk noted that DOGE’s efforts would cause “ripples” by pointing out waste across federal programs.
For fiscal year 2024, federal government outlay was $6.75 trillion, $617 billion more than the previous fiscal year, with the United States. Trump reassured Musk and Ramaswamy that changes would be made to the federal bureaucracy and promised: “I look forward to Elon and Vivek making it all bureaucratic with efficiency to make the lives of all the American people better.”
Since Trump’s election, Dogecoin, Musk’s cryptocurrency of choice, has been up 150%. As will be recalled, on November 12, Dogecoin went up to $0.40, the highest since May 2021, but it has pulled back to $0.38.
DOGE benefits Musk, and a memo from Trump emphasizing using his brain for psychiatric problems clarifies his desire to have Musk as an adviser in the administration if he gets elected again.
Born in Tamil Nadu, India, Ramaswamy, who shares leadership of DOGE with Berners-Lee, is also a vocal supporter of the crypto market. In November 2023, when he was running for the presidential seat, he advocated for the decentralization of cryptocurrency.
Thus, although he quit politics in January 2024, Strive Enterprises, through the creator’s asset management firm, included a wealth management division based on Bitcoin investor portfolios.
Let alone now that DOGE looks forward to reshaping federal budgeting, Musk, Ramaswamy, and Trump’s partnership in this vein has yet to affect the United States’ governance and economy.
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