Donald J. Trump, United States President-elect, has appointed Elon Musk, CEO of Space X and X social media platform, and Vivek Ramaswamy to lead the US Department of Government Efficiency, to dismantle Government Bureaucracy, cut excess regulation, wasteful expenditures, and restructure federal agencies.
President Trump in his press statement said, “Essential to the “Save America” Movement. “This will send shockwaves through the system, and anyone involved in Government waste, which is a lot of people!” stated Mr. Musk. It will potentially become “The Manhattan Project” of our time. Republican politicians have dreamed about the objectives of “DOGE” for a very long time. To drive this kind of drastic change, the Department of Government Efficiency will provide advice and guidance from outside of Government, and will partner with the White House and Office of Management & Budget to drive large-scale structural reform, and create an entrepreneurial approach to Government never seen before.”
Trump said that he looks 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 to drive out the massive waste and fraud that exists throughout the US annual $6.5 Trillion Dollars of Government Spending.
Musk has extensive experience slashing corporate spending and he’s promised to cull federal payrolls in much the same way. He cut staff at X, formerly Twitter, by 80 percent after buying it in 2022, a move he said prevented a $3bn shortfall but according to recent financial reports, has not paid off.
X’s Revenue is in decline and advertisers have absconded, making it hard for a comeback. As the CEO of SpaceX, though, he has garnered a reputation for launching rockets more cheaply than competitors by negotiating with suppliers and keeping operations lean.
According to the Guardian UK, Musk’s super political action committee (Pac) spent about $200m to help elect Donald Trump to a second presidency, funding an effort that set a new standard for how billionaires can influence elections.
Reports also claim that Musk provided the majority of the money to America Pac, which focused on low-propensity and first-time voters. In turn, as CNBC reported, Musk’s net worth jumped $70bn since Trump’s victory in the 5 November election.
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