US President-elect Donald Trump has announced the creation of a new initiative, the Department of Government Efficiency (DOGE). He aims to eliminate inefficiencies, reduce excess regulations, and streamline federal spending, comparing it to the World War II-era Manhattan Project. DOGE’s main goal is to reduce waste and fraud in the US government’s $6.5 trillion annual budget.
Tech entrepreneur Elon Musk and former Republican candidate Vivek Ramaswamy, both strong Trump supporters, have been appointed to lead the initiative. Musk has promised transparent operations, with updates posted online for public feedback and a leaderboard highlighting wasteful government expenditures.
While Dogecoin supporters are excited by Trump’s choice of name for the department, the memecoin’s price fell 10% after a recent upswing.
