US President-elect Donald Trump has announced that Elon Musk and Vivek Ramaswamy will jointly lead the U.S. Department of Government Efficiency (DOGE).
In a statement, Donald Trump said, “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). 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—essential to the ‘Save America’ movement.”
We will not go gently, @elonmusk. 🇺🇸 https://t.co/sbVka2vTiW
— Vivek Ramaswamy (@VivekGRamaswamy) November 13, 2024
Calling this initiative a “Manhattan Project of our time,” Trump added that Republicans have long dreamed of DOGE. The Department of Government Efficiency will offer advice and guidance from outside government and work with the White House and the Office of Management and Budget to promote large-scale structural reforms and create an “unprecedented entrepreneurial government.”
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DOGE also aims to eliminate massive waste and fraud in the country’s $6.5 trillion annual government spending.
Trump concluded by saying that Elon Musk and Vivek Ramaswamy’s work will be completed no later than July 4, 2026, resulting in a smaller, more efficient, and less bureaucratic government, which he described as “the perfect gift to America on the 250th anniversary of the Declaration of Independence.”
Following this announcement, Dogecoin ($DOGE) jumped by 11.92% to $0.4045. $DOGE’s 24-hour volume rose by 93.58% to $39.83 billion, and the memecoin’s market cap surged by 12.10% to $59.31 billion.
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