• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

What to know about DOGE and its quest to slash government waste, spending

by January 7, 2025
written by January 7, 2025

The newly created Department of Government Efficiency (DOGE) is preparing to roll out once the Trump administration is sworn in with the stated goal of slashing government waste and providing increased transparency when it comes to government spending.

DOGE is not a Cabinet-level department but rather a blue-ribbon committee outside of the government that will be tasked with examining issues of government spending, waste, efficiency and operations. 

Proponents of DOGE, headed by Tesla and Space X CEO Elon Musk and tech entrepreneur Vivek Ramaswamy, have suggested that $2 trillion dollars in government waste can be cut from the federal budget through the reduction of spending, eliminating government programs and trimming the federal workforce. 

Although the commission does not have formal authority, it has pledged to work closely with the Office of Management and Budget to reform regulatory recissions, administrative reductions and cost savings.

In addition to a working relationship with certain government agencies, DOGE will likely suggest executive actions that may be taken by President Trump.

Several House Committees and caucuses have already expressed the intention and willingness to work with DOGE until it ceases operations on July 4, 2026, the 250th anniversary of 1776’s Independence Day, to accomplish the goal of slashing government waste.

‘Our national debt has surpassed a staggering $36 trillion and should be a wakeup call for all Americans,’ House Delivering Outstanding Government Efficiency Caucus Co-Chair Rep. Aaron Bean (R-Fla.) has explained. ‘We must take action to avoid diving headfirst off the cliff of fiscal ruin. I’m thrilled with President-elect Trump’s appointment of Elon Musk and Vivek Ramaswamy to lead DOGE, but taking on Crazy Town will be no easy task—they will need partners.

‘Our DOGE Caucus, will work closely with the Department of Government Efficiency to help rein in reckless spending and stop the abuse of taxpayer dollars.’

House Oversight Chair James Comer (R-Ky.) intends to establish a new subcommittee next, led by Rep. Marjorie Taylor Greene (R-Ga.) that will oversee Delivering on Government Efficiency. The subcommittee will be tasked with coordinating with the Department of Government Efficiency (DOGE) through investigating wasteful spending, looking at how to reorganize federal agencies with an eye to improving efficiency and identifying solutions to eliminate bureaucratic ‘red tape.’

‘It is time to cut red tape, hold the unchecked federal workforce accountable, ensure programs are efficient, & work with @DOGE to tackle waste, fraud, & abuse,’ Comer posted on X in December.

On the Senate side, GOP Sen. Joni Ernst will chair the Senate Delivering Outstanding Government Efficiency Caucus.

‘’Iowans elected me with a mandate to cut Washington’s pork!’ Ernst said about the DOGE efforts. ‘From billion-dollar boondoggles to welfare for politicians and trillion-dollar slush funds, my decade-long investigations have exposed levels of abuse that are almost too insane to believe.

‘The tables are finally turning, the knives are out, and waste is on the chopping block. As President Trump, Elon Musk, and Vivek Ramaswamy prepare to take action, the Senate DOGE Caucus is ready to carry out critical oversight in Congress and use our legislative force to fight against the entrenched bureaucracy, trim the fat, and get Washington back to work for Americans.’’

Several historical examples exist in American history, with mixed results and less ambitious goals, of government-led efforts to cut back on unnecessary spending and staffing.

President Theodore Roosevelt, in 1905, set up the Keep Commission, which attempted to ‘place the conduct of the Government on the most economical and effective basis in the light of the best modern business practice’ and has been hailed as the ‘first of the orderly examinations into [Federal] administrative problems.’

Five years later, President William Howard Taft was appropriated $100,000 by Congress to ‘inquire into the methods of transacting the public business of the government in the several executive departments and other government establishments, with the view of… changing old methods…so as to attain greater efficiency… and recommend to Congress what changes in law may be necessary.’

President Bill Clinton’s administration launched the National Partnership for Reinventing Government (NPR), led by Vice President Al Gore, with the goal to make the federal government ‘work better, cost less, and get results Americans care about.’

Gore said, ‘We are turning some of today’s agencies into smaller, sleeker organizations that won’t look like government at all. They will be like private companies, with a real CEO on contract to cut costs, and a free hand when it comes to the remaining government rules.’

President Obama signed an executive order in June 2011 establishing the Campaign to Cut Government Waste that created an 11-member Oversight and Accountability Board with a stated mission to give ‘taxpayers the same ability to track where their dollars are going and to have the same confidence that the dollars are not being lost to waste, fraud, or abuse, not just for Recovery Act dollars, but more broadly.’

Steve Davis, president of Boring Co., Musk’s tunneling operation, and Michael Kratsios, former US chief technology officer, are among those leading interviews of potential DOGE employee candidates, according to people familiar with the effort. 

DOGE is believed to have hired roughly 10 individuals so far and is seeking software engineers as well as people with experience in artificial intelligence. Other high-profile names believed to be associated with getting DOGE off the ground include Palantir co-founder and investor Joe Lonsdale, investor Marc Andreessen, hedge fund manager Bill Ackman and former Uber chief executive Travis Kalanick.

For now, DOGE is operating out of glass-walled office space in Washington leased by SpaceX, another Musk-owned company, about four blocks away from the White House.

Some other key areas that DOGE hopes to make progress in, Musk and Ramaswamy have previously outlined, include simplifying the U.S. tax code, auditing the Department of Defense, returning National Institutes of Health money to taxpayers and foreign aid transparency. 

‘I expect DOGE to operate in ‘founder mode’ — lean, decisive and led by two great people in Vivek and Elon who are obsessed over every detail,’ said James Fishback, a Ramaswamy confidant, and the co-founder of investment firm Azoria Partners.

Related Topics

Politics
Elon Musk
Spending

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Iran’s nuclear program is nearing ‘the point of no return,’ France’s Macron says
next post
Danish prime minister has blunt message for Trump: Greenland is not for sale

related articles

Trump’s apocalyptic Iran warning raises stakes for sweeping...

April 7, 2026

Graham eyes ‘down payment’ on Trump-backed SAVE Act...

April 7, 2026

Democrat whose parents fled Iran moves to oust...

April 7, 2026

Midterm alarm bells: Democrats face steep favorability deficit...

April 7, 2026

American journalist kidnapped in Iraq is set free,...

April 7, 2026

Dem Senate primary erupts in key state as...

April 7, 2026

Trump-backed candidate aims to pad GOP’s fragile House...

April 7, 2026

Ilhan Omar calls Trump an ‘unhinged lunatic,’ urges...

April 7, 2026

White House unleashes on Stacey Abrams in latest...

April 7, 2026

Former Virginia Gov Glenn Youngkin hints at political...

April 7, 2026
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • DAX Index stocks to watch in April: Deutsche Bank, Adidas, BASF, and more

    March 31, 2026
  • Trump jokes about Nobel Prize at inaugural Board of Peace meeting, says Norway to host Gaza aid gathering

    February 19, 2026
  • Scandal leaves International Criminal Court grasping for legitimacy amid probe of Israel

    December 18, 2025
  • Apple crushes Wall Street expectations as iPhone sales soar

    August 1, 2025
  • Federal judge orders Elon Musk, DOGE to reveal plans to downsize government, identify all employees

    March 13, 2025

Popular Posts

  • 1

    District judges’ orders blocking Trump agenda face hearing in top Senate committee

    April 2, 2025
  • 2

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 3

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 4

    CoreWeave eyes $1.5B bond raise to ease debt load following lacklustre IPO: report

    May 9, 2025
  • 5

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024

Categories

  • Economy (829)
  • Editor's Pick (8,502)
  • Investing (2,060)
  • Stock (1,017)

Latest Posts

  • China’s missile surge puts every US base in the Pacific at risk — and the window to respond is closing

    December 14, 2025
  • Apple under Tim: how Cook turned Jobs’ vision into a $4T fortress

    April 21, 2026
  • Iran war, credit crunch, and AI: inside the global market meltdown

    March 21, 2026

Recent Posts

  • Fetterman, McCormick react to ‘astonishing’ Boulder attack on pro-Israel group: ‘Rank antisemitism’

    June 2, 2025
  • Democrat lawmaker freezes on House floor after suffering adverse reaction to medication

    February 11, 2025
  • RNC brings on new senior leadership to ‘work around the clock’ to support Trump agenda, elect Republicans

    February 12, 2025

Editor’s Pick

  • Trump told to ‘f— off’ by Danish lawmaker during European Parliament debate about Greenland

    January 20, 2026
  • Gold and silver: gold enters a certain consolidation zone

    August 16, 2024
  • Marco Rubio to Chinese foreign minister: Trump will put ‘American people first’ in US-China relations

    January 25, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock