As a seasoned researcher with a keen interest in economic policy and technological innovation, I find myself intrigued by the recent proposals for the Department of Government Efficiency (DOGE). The involvement of influential figures like Brian Armstrong, Elon Musk, and Vivek Ramaswamy adds a layer of excitement to this endeavor.
Trump’s vision for the U.S. Department of Government Efficiency (DOGE) involves trimming down federal spending and eliminating redundant rules. This concept is gaining backing from Brian Armstrong, the CEO of Coinbase.
As per Brian Armstrong, CEO of Coinbase, the proposal for establishing a Department of Government Efficiency (DOGE) represents a once-in-a-lifetime chance. He expressed this on X post dated November 17th, suggesting that such an agency could enhance economic freedom within the U.S., and in turn, reduce the size of government to a sustainable level.
Armstrong pointed out that reducing government spending to just 10% of the country’s total economic output (Gross Domestic Product or GDP) could be achieved. Over the last few years, federal expenditure by the U.S. government has more than doubled. Consequently, he proposes a modification to the constitution as a solution.
@DOGE represents a rare chance to enhance financial liberty within the United States by reducing the influence and scale of government. The founders were indeed brilliant, yet it’s possible they underestimated the negative incentives that can cause the size of democratic governments to expand over time.
— Brian Armstrong (@brian_armstrong) November 17, 2024
He mentions that the unbalanced federal budget makes the congress members who vote for it have no right to the next term election. For that reason, the government needs to have the right incentives to control the budget in the long term.
Armstrong proposed the concept of a U.S. citizen-owned wealth fund, in which all citizens could invest and own shares. Excess funds from this entity could then be distributed as dividends using any budget surpluses.
Donald Trump’s Vision of DOGE
Last Friday, November 13th, I received the exciting news as a researcher that U.S. President-elect Donald Trump officially appointed Elon Musk to spearhead a new department, the Department of Government Efficiency (DOGE), marking an intriguing new chapter in American policy-making.
A freshly established agency finds its roots in the unique concept of Dogecoin, and it’s notable that American entrepreneur and Republican, Vivek Ramaswamy, will join forces with Elon Musk.
Musk and Ramaswamy were anticipated to reduce excessive spending, reorganize government departments, and eliminate redundant rules. Trump suggested this agency could create a seismic impact within the system, possibly becoming “The Manhattan Project” equivalent for our current era.
After Trump’s election victory and the announcement of his new agency, there’s been a substantial 163% surge in Dogecoin over the last month, with its price rising from $0.13 to $0.36. Predictions suggest that Dogecoin could potentially reach $1 in the future.
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2024-11-18 04:22