President-elect Donald Trump has installed Tesla CEO Elon Musk and entrepreneur Vivek Ramaswamy as heads of the new Department of Government Efficiency (D.O.GE). By combining agencies, reducing unnecessary regulations, and ending wasteful spending, this new agency is committed to creating a clearer path to growing our economy and creating more jobs. The initiative also aligns with Trump’s aim to shrink and limit the scope of the federal government.
Musk and Ramaswamy will work on dismantling and streamlining redundant government structures and promoting agency efficiency. Trump says the agency’s mission is to reduce bureaucracy and create an entrepreneurship culture in government. This is a big step in Trump’s active engagement in the “Save America” movement, which is focused on being responsible and transparent with dollars.
Elon Musk’s D.O.GE. to Track Wasteful Spending Publicly
In his announcement on social media, Musk said the Department of Government Efficiency will run with a high level of transparency. He said all agency actions would be posted online to keep the public informed and engaged. Public input is being invited, Musk says, with citizens encouraged to let him know ‘if there are cuts to essential programs or wasteful spending’ and the agency will adjust accordingly.
The agency plans to create a public ‘leaderboard’ of taxpayer money’s most wasteful spending. This approach combines public participation with accountability, making the process informative and more accessible. Musk and Ramaswamy will also be open to continuing dialogue with Americans, who will have the opportunity to have their voices help guide the agency’s direction.
Donald Trump Picks Musk for Federal Efficiency Overhaul
Musk’s idea of leading such a commission on government efficiency has been central to Trump’s fiscal agenda. In September, Trump proposed that Musk’s involvement would deliver massive economic gains in a speech to the Economic Club of New York. At that time, Musk said he supported the initiative and that it could ‘unlock tremendous prosperity for America.’
The work of the Department of Government Efficiency will come to a close by July 4, 2026, a date that Trump chose as the 250th anniversary of the Declaration of Independence. By this milestone in reshaping the federal bureaucracy, Trump wants the agency to have made substantial progress. Musk and Ramaswamy, he said, will help the American people reach these goals while benefiting them.
News of Musk’s appointment led Dogecoin (DOGE), a cryptocurrency linked to Musk’s social media activity, to make a big jump. Before the announcement, the crypto rose by 6%, and its value fluctuated. Dogecoin’s rally is the highest since Trump’s 2024 election win, and investor interest is in Musk’s involvement in high-profile government initiatives.
Dogecoin’s recent performance in the face of a volatile broader crypto market has been positive. On Tuesday, that peak reached $0.43, but it traded at $0.38, up more than 10 percent in 24 hours. This recent dip doesn’t change the fact that Dogecoin has been up 112% in the last week, thanks to Musk and his influence on government decisions regarding market performance.
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