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Cryptocurrency News Articles

Trump Appoints Elon Musk and Vivek Ramaswamy to Overhaul Federal Bureaucracy

Nov 14, 2024 at 08:30 am

U.S. President-elect Donald Trump issued a statement on Tuesday regarding his ambitious plans to streamline federal bureaucracy

Trump Appoints Elon Musk and Vivek Ramaswamy to Overhaul Federal Bureaucracy

U.S. President-elect Donald Trump announced on Tuesday the formation of the Department of Government Efficiency (DOGE), which will be led by Elon Musk and Vivek Ramaswamy and tasked with overhauling the federal bureaucracy.

Trump announced the new department in a statement, framing it as part of his “Save America” movement and a response to the “massive government bureaucracy which wastes trillions of dollars.”

“I am pleased to announce that the Great Elon Musk, working in conjunction with American patriot Vivek Ramaswamy, will lead the Department of Government Efficiency (DOGE),” Trump announced, adding:

Together, these two wonderful Americans will pave the way for my administration to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies.

Musk and Ramaswamy will lead DOGE in an advisory capacity, providing “external advice and guidance” to the administration. The department will work with the White House and the Office of Management and Budget on “large scale structural changes.”

“This will send shockwaves through the system, and anyone involved in government waste, which is a lot of people!” Musk said in the statement.

The goal of DOGE is to overhaul the federal bureaucracy and make government operations more efficient and accountable. Trump framed the initiative as a way to reduce the government’s annual spending of $6.5 trillion.

“I look forward to Elon and Vivek making changes to the federal bureaucracy with an eye on efficiency and, at the same time, making life better for all Americans,” Trump stated, adding:

Importantly, we will drive out the massive waste and fraud which exists throughout our annual $6.5 trillion dollars of government spending.

Trump set a symbolic deadline of July 4, 2026, for the completion of DOGE’s work.

“Their work will conclude no later than July 4, 2026 – A smaller government, with more efficiency and less bureaucracy, will be the perfect gift to America on the 250th Anniversary of The Declaration of Independence. I am confident they will succeed!” the president-elect concluded.

News source:news.bitcoin.com

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