{"id":18537,"date":"2024-11-13T12:01:56","date_gmt":"2024-11-13T10:01:56","guid":{"rendered":"https:\/\/forklog.com\/en\/elon-musk-to-lead-new-us-government-efficiency-department\/"},"modified":"2024-11-13T12:01:56","modified_gmt":"2024-11-13T10:01:56","slug":"elon-musk-to-lead-new-us-government-efficiency-department","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/elon-musk-to-lead-new-us-government-efficiency-department\/","title":{"rendered":"Elon Musk to Lead New US Government Efficiency Department"},"content":{"rendered":"<p>Billionaire Elon Musk and former US presidential candidate Vivek Ramaswamy are set to head the newly established Department of Government Efficiency (DOGE) under the US government.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">President Donald J. Trump announces the Department of Government Efficiency (DOGE) \u2014 headed by <a href=\"https:\/\/twitter.com\/elonmusk?ref_src=twsrc%5Etfw\">@elonmusk<\/a> and <a href=\"https:\/\/twitter.com\/VivekGRamaswamy?ref_src=twsrc%5Etfw\">@VivekGRamaswamy<\/a> <a href=\"https:\/\/t.co\/Ya2o45qlV8\">pic.twitter.com\/Ya2o45qlV8<\/a><\/p>\n<p>\u2014 Trump War Room (@TrumpWarRoom) <a href=\"https:\/\/twitter.com\/TrumpWarRoom\/status\/1856500025037037606?ref_src=twsrc%5Etfw\">November 13, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The department&#8217;s mission will be to reform the government to reduce administrative costs and combat bureaucracy. DOGE aims to apply an &#8220;entrepreneurial approach&#8221; and offer a fresh perspective on the workings of the US government apparatus.<\/p>\n<p>This will involve the abolition of some government structures and the downsizing of others. The necessary reforms are promised to be completed by July 4, 2026, coinciding with the 250th anniversary of the US Declaration of Independence.<\/p>\n<p>The idea for DOGE was first proposed in August during an <a href=\"https:\/\/forklog.com\/en\/news\/trumps-interview-with-musk-omits-cryptocurrency-meme-token-market-declines\">interview<\/a> between Musk and Donald Trump. The entrepreneur suggested himself as the head of a special department for government optimization, a proposal that was supported by the then-presidential candidate.<\/p>\n<p>Soon after, Musk <a href=\"https:\/\/x.com\/elonmusk\/status\/1825723913051000851\">posted<\/a> an image of himself at a podium with the words Department of Government Efficiency and the acronym D.O.G.E. In the caption, the billionaire wrote &#8220;Ready to serve.&#8221;<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;Together, these two remarkable Americans will pave the way for my administration to eliminate government bureaucracy, reduce excessive regulations, cut wasteful spending, and restructure federal agencies,&#8221; Trump stated.<\/cite><\/p><\/blockquote>\n<p>Both leaders of DOGE have shown themselves to be opponents of government regulations. Ramaswamy has spoken out against the implementation of CBDCs and criticized the government for sanctions against the crypto mixer Tornado Cash.<\/p>\n<p>Musk has repeatedly <a href=\"https:\/\/forklog.com\/en\/news\/court-dismisses-258-billion-lawsuit-against-elon-musk-over-dogecoin-promotion\">boosted<\/a> Dogecoin and called the meme coin his &#8220;favorite cryptocurrency.&#8221; Following Trump&#8217;s victory, he supported Senator Mike Lee&#8217;s call to abolish the <span data-descr=\"Federal Reserve System of the United States\" class=\"old_tooltip\">Fed<\/span>. The billionaire is also known for <a href=\"https:\/\/www.nytimes.com\/2023\/02\/26\/technology\/twitter-layoffs.html\">radical cost-cutting measures<\/a> in companies under his control.<\/p>\n<p>According to Musk, downsizing and process review could <a href=\"https:\/\/www.washingtonpost.com\/business\/2024\/10\/29\/elon-musk-2-trillion-budget-cuts-trump-election\/\">slash<\/a> the government budget by $2 trillion (nearly a third of the current $6.5 trillion). Experts <a href=\"https:\/\/edition.cnn.com\/2024\/11\/12\/politics\/elon-musk-vivek-ramaswamy-department-of-government-efficiency-trump\/index.html\">believe<\/a> this is an overly optimistic forecast, and reducing the budget by even $200 billion would be a significant achievement.<\/p>\n<p>Despite Musk&#8217;s involvement and the acronym&#8217;s parallel to the DOGE ticker, news of the new department&#8217;s leadership had no noticeable effect on the market.<\/p>\n<p>The dog-themed meme coin, which had seen a significant boost amid the US presidential elections, has instead slowed its growth. At the time of publication, the coin is trading around $0.37 after peaking at $0.43.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"640\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2024-11-13-v-11.45.22-1024x640.png\" alt=\"Snimok-ekrana-2024-11-13-v-11.45.22\" class=\"wp-image-245092\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2024-11-13-v-11.45.22-1024x640.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2024-11-13-v-11.45.22-300x188.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2024-11-13-v-11.45.22-768x480.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2024-11-13-v-11.45.22-1536x960.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2024-11-13-v-11.45.22-2048x1280.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly chart of DOGE\/USDT on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/DOGEUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Previously, the price of Dogecoin surged 51% in a day, reaching a three-year high.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire Elon Musk and former US presidential candidate Vivek Ramaswamy are set to head the newly established Department of Government Efficiency (DOGE) under the US government. President Donald J. Trump announces the Department of Government Efficiency (DOGE) \u2014 headed by @elonmusk and @VivekGRamaswamy pic.twitter.com\/Ya2o45qlV8 \u2014 Trump War Room (@TrumpWarRoom) November 13, 2024 The department&#8217;s mission [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18536,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[99,991,1217,26],"class_list":["post-18537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dogecoin","tag-donald-trump","tag-elon-musk","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18537"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18537\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18536"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}