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Elon Musk has said that US government spending can be reduced by a huge $2 trillion. File photo

Elon Musk, Vivek Ramaswamy, and Trump's Dept of Government Efficiency (DOGE)

Trump said a smaller and more efficient govt would be a gift to the country on July 4, 2026, the 250th anniversary of the signing of the Declaration of Independence


US President-elect Donald Trump announced on Tuesday (November 12) that Tesla CEO Elon Musk and former Republican presidential candidate Vivek Ramaswamy will head the newly-created “Department of Government Efficiency” (DOGE) during his second term as president.

It will, however, not be a government body, despite its name.

Also Read: Elon Musk joins Donald Trump’s Cabinet, US President-elect confirms

Trump said in a statement that both the businessmen would “work from outside the government to offer the White House advice and guidance and will partner with the Office of Management and Budget to drive large-scale structural reform, and create an entrepreneurial approach to government never seen before”.

Trump added that the move would shock government systems.

DOGE

Elon Musk has been promoting the setting up of a government efficiency department and has also insisted on the acronym for the agency – DOGE, a reference to the cryptocurrency Dogecoin that he promotes.

Musk has said that US government spending can be reduced by a huge $2 trillion.

Analysts believe that to achieve that level of cost-cutting, there would have to be changes in policy and deregulation. Some of the policy changes could have an impact on Musk’s companies.

Also Read: How Trump's win saw Elon Musk's net worth go up by $26 billion; Jeff Bezos gains $7.1 billion

Both Musk and Ramaswamy are successful entrepreneurs who have no government experience. The latter has been pushing for cost-cutting in the corporate sector as well.

There is no clarity as yet on how the agency would operate. It may be formed under the Federal Advisory Committee Act, which dictates how external organisations that advise the government should operate and be accountable to the public.

July 4, 2026 deadline

Trump said, “Musk and Ramaswamy will pave the way for my administration to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies.”

The President-elect said DOGE’s work would conclude by July 4, 2026. He said a smaller and more efficient government would be a gift to the country on the 250th anniversary of the signing of the Declaration of Independence.

Also Read: Watch: Indian-American Vivek Ramaswamy withdraws from US Presidential race

Trump said Musk could not work full-time for the government given his business commitments and since “he’s a little busy sending rockets up and all the things he does”.

“Musk said the waste in this country is crazy. And we’re going to get him to be our cost-cutter,” Trump had said at a rally in Michigan during the presidential campaign.

Musk has been saying for some time that the public debt the US has accumulated is unsustainable and something had to be done about it.

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