Donald Trump Appoints Elon Musk and Vivek Ramaswamy to Lead DOGE Program
The United States government, led by President Donald Trump, will engage experts to enhance efficiency and reduce bureaucracy. Tech billionaire Elon Musk and politician Vivek Ramaswamy will head the Department of Government Efficiency (DOGE), with a deadline of July 4, 2026, to fulfill campaign promises focused on deregulation and budget cuts.
The DOGE program will collaborate with the White House and the Office of Management and Budget to implement reforms. Trump stated that their efforts aim to dismantle bureaucratic structures, eliminate unnecessary regulations, reduce wasteful spending, and restructure federal agencies, which he described as vital to the 'save America' initiative.
Musk has commented on previous government expenditures, indicating that their impact will be both tragic and entertaining. Trump compared the DOGE program to the Manhattan Project, which developed nuclear weapons during World War II.
In honor of Elon and Vivek being picked as the heads of Department of Government Efficiency (DOGE), here some of the dumbest uses of your tax dollars.
5. $20,000 to drag shows in Ecuador.
4. $30,000 to study the secret language of butchers in Paris.
3. $750,000 for the New… pic.twitter.com/I7HCjyjXbh
— Collin Rugg (@CollinRugg) November 13, 2024
Market Impact of the DOGE Program
The DOGE initiative draws inspiration from Dogecoin (DOGE), a prominent meme coin supported by Musk despite prior legal issues. Following Trump's election success and the rise of pro-crypto leaders, Dogecoin's popularity surged.
— Elon Musk (@elonmusk) November 13, 2024
Dogecoin's price increased over 242 percent in four weeks, reaching approximately 43 cents, with a market cap around $55.5 billion and a daily trading volume of about $42 billion. Technical analysis indicates Dogecoin is nearing a parabolic phase after three years of bearish trends, with the Relative Strength Index (RSI) exceeding 70 percent for the first time since July 2021. Trader Peter Brandt noted that Dogecoin's price trajectory resembles Bitcoin's cycle in spring 2016.