Inside Elon Musk’s Plan for DOGE to Slash Government Costs

Published On Jan 12, 2025, 5:01 AM

Elon Musk and a group of tech executives are forming a new initiative called the Department of Government Efficiency (DOGE), aimed at identifying areas for cost-cutting within the U.S. government. Although this group will not have the authority to enforce budget cuts, they are expected to make recommendations to various federal agencies. Their efforts come under the leadership of President-elect Donald Trump, who has characterized this initiative as a means to ensure more efficient government spending, echoing similar cost-reduction strategies Musk has employed in his other ventures.

Stock Forecasts

TSLA

Positive

The involvement of prominent tech leaders in government can potentially reshape regulatory perspectives and boost innovation. However, efforts criticized for being overly experimental could face backlash depending on the political climate.

Related News

More car buyers are expected to eventually pick battery-powered cars and trucks as prices fall and technology improves, even if Biden-era incentives disappear.

TikTok and its Chinese parent company are facing off against the Justice Department Friday in a hearing before the Supreme Court that will help determine the fate of the popular social media app.

META
TSLA

Elon Musk's Trump windfall

Jan 9, 2025, 6:00 AM

Musk's Tesla stake rose by $111 billion — 65% — last year. All but $2 billion of Musk’s Tesla gain and about 98% of what other Tesla shareholders gained came after Election Day, when Musk began hanging out extensively with Donald Trump and started calling himself Trump’s “first buddy.”