What is Elon Musk's plan for DOGE?

(NewsNation) — Elon Musk has been tapped to pb a new advisory group connected authorities spending successful Donald Trump’s 2nd administration, and the tech entrepreneur has been dropping breadcrumbs connected what helium plans to do. 

President-elect Trump announced Tuesday that Musk, on with Vivek Ramaswamy, would pb his “Department of Government Efficiency” (DOGE), an inaugural meant to “slash excess regulations, chopped wasteful expenditures” and restructure national agencies.

There is inactive small known astir DOGE, but successful a statement shared by Trump, Musk said it volition “send shockwaves done the strategy and anyone progressive successful Government waste, which is simply a batch of people!”

What is DOGE oregon Department of Government Efficiency? 

The Department of Government Efficiency is simply a new initiative enactment distant by Trump erstwhile helium takes bureau successful January. 

Trump said that DOGE would “provide proposal and guidance from extracurricular of government” and spouse with the White House Office of Budget and Management (OMB) to thrust large-scale structural reform.

“It volition become, potentially, ‘The Manhattan Project’ of our time. Republican politicians person dreamed astir the objectives of 'DOGE' for a precise agelong time,” the president-elect added. The Manhattan Project was a concealed World War II authorities programme to make and deploy the world’s archetypal atomic weapons.

The thought appeared to person travel from Musk, who discussed the request for a “government ratio commission" while campaigning alongside Trump.

The president-elect said DOGE’s enactment volition “conclude” nary aboriginal than July 4, 2026, successful solemnisation of the 250th day of the Declaration of Independence.

What are Elon Musk’s plans for DOGE? 

Musk has provided immoderate tidbits connected what could beryllium successful store for DOGE since Trump’s announcement connected the agency. 

“Incentives matter. There should beryllium rewards for omniscient spending, but those who discarded payer funds cannot beryllium allowed to support doing truthful without consequences,” Musk posted on X of DOGE connected Wednesday, hinting that cuts volition beryllium imminent nether his guidance. 

He besides said the section would supply “maximum transparency” and that all of DOGE’s actions volition beryllium posted online.

“Anytime the nationalist thinks we are cutting thing important oregon not cutting thing wasteful, conscionable fto america know!” Musk posted. 

Musk besides said that DOGE would make a “leaderboard for astir insanely dumb spending” of taxation dollars, which helium said would beryllium “extremely tragic and highly entertaining.” 

While Trump has fixed DOGE little than 18 months to implicit its work, Musk said Wednesday that it “will beryllium done overmuch faster.” 

One point that mightiness beryllium connected Musk’s chopping artifact is the defence budget, which the billionaire called “pretty gigantic” successful a video posted connected the X relationship of a PAC founded by Musk that helium reshared connected Tuesday. 

Tesla and SpaceX CEO Elon Musk speaks during an interview. (Czarek Sokolowski, Associated Press)

“It's a trillion dollars. The involvement we beryllium connected the indebtedness is present higher than the defence budget. This is not sustainable. That's wherefore we request the Department of Government Efficiency,” helium said successful the video. 

Musk had floated the thought of a authorities ratio section earlier Trump’s triumph portion connected the run trail, telling voters it was clip to “drain the swamp.” 

During an October Trump rally successful Pennsylvania, Musk said, “We're going to bankrupt the country” without lowering authorities spending, adding that it would instrumentality “some beauteous large moves.” 

Musk besides spoke astatine the controversial Madison Square Garden rally successful New York starring up to the predetermination and told crowds determination that helium wants to chopped astatine slightest $2 trillion successful national spending.

“All authorities spending is taxation ... your wealth is being wasted, and the Department of Government Efficiency is going to hole that,” Musk said 

What is Vivek Ramaswamy's relation successful DOGE?

Pharmaceutical entrepreneur Ramaswamy, who was 1 of Trump's astir vocal supporters, was tasked to tally DOGE alongside Musk. 

“DOGE is acceptable to assistance the U.S. authorities conform to the U.S. Constitution erstwhile again. @elonmusk and I are acceptable to serve,” helium posted. 

He added, “We volition not spell mildly @elonmusk."

Vivek Ramaswamy speaking during the 2nd time of the Republican National Convention connected Tuesday, July 16, 2024, successful Milwaukee. (AP Photo/J. Scott Applewhite)

During his ain unsuccessful bid for the statesmanlike nomination, Ramaswamy campaigned connected eliminating national agencies, including the FBI; the Bureau of Alcohol, Tobacco, Firearms and Explosives; the Education Department; the Nuclear Regulatory Commission; and the Food and Nutrition Service wrong the Agriculture Department.

On Wednesday, helium posted connected X that “DOGE volition soon statesman crowdsourcing examples of authorities waste, fraud, & and abuse. Americans voted for drastic authorities betterment & they merit to beryllium portion of fixing it,” connected X. 

Is determination a transportation betwixt DOGE and Dogecoin? 

Cryptocurrency dogecoin has been surging successful worth since Trump named Musk arsenic 1 of the heads of DOGE, arsenic the acronym plays connected the aforesaid connection usage arsenic the memecoin and is besides the ticker awesome nether which dogecoin trades.

The adjacent connection relation has generated accrued excitement astir the cryptocurrency, which Musk has promoted successful the past. 

Dogecoin was trading astatine $0.4006 connected Wednesday, an summation of much than 15% in the past 24 hours and 121% implicit the past week, reported Quartz. 

The cryptocurrency became associated with Musk aft helium played a quality connected “Saturday Night Live” who went by the nickname the “Dogefather.” He has besides called it his favourite cryptocurrency. 

In 2022, Musk became much intimately associated with dogecoin aft helium suggested Twitter should possibly judge it arsenic outgo for subscriptions. 

He continued promoting dogecoin connected assorted platforms, starring to its inclusion successful the apical 10 cryptocurrencies by marketplace capitalization, the outlet reported.