Trump Taps Musk and Ramaswamy for Bold “DOGE” Plan

In a move as unorthodox as his political style, President-elect Donald Trump has announced the creation of a new advisory body, the “Department of Government Efficiency” (DOGE), to be led by Tesla CEO Elon Musk and entrepreneur Vivek Ramaswamy.

Trump shared his enthusiasm for the initiative in a statement posted by Musk on X (formerly Twitter), emphasizing the pair’s mission to “dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies.”

While the proposal has sparked excitement over the prospect of a leaner, more efficient government, skeptics like Peter Schiff, economist and global strategist at Euro Pacific Asset Management, question whether the effort will deliver meaningful change.

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— Donald J. Trump (@realDonaldTrump) November 13, 2024

What Is DOGE?

Despite its official-sounding name, the “Department of Government Efficiency” isn’t a formal government agency but rather an external advisory group tasked with providing recommendations to streamline federal operations.

Schiff, a frequent critic of government overreach but occasional Trump supporter, offered a reality check.

“DOGE exists outside of government and has no authority to do anything,” he pointed out in a post on X. “Like many independent think tanks, it can make recommendations, but the government can ignore them all.”

Trump has acknowledged as much, explaining that DOGE will serve purely as an advisory body.

However, its whimsical acronym—an apparent nod to the cryptocurrency Dogecoin, frequently championed by Musk—has left some wondering how seriously the initiative will be taken.

The Roadblocks Ahead

Schiff expressed doubts about the feasibility of DOGE’s recommendations leading to substantial government reforms.

“Even if the Trump administration proposes some of DOGE’s ideas, they mean nothing unless Congress votes to implement them,” he explained.

According to Schiff, bipartisan resistance makes meaningful cuts unlikely. He predicted that no Democrats would support eliminating government departments and doubted full Republican backing in the House, citing the influence of moderates and representatives from swing districts.

The Senate poses an even higher hurdle, where any proposal to slash federal agencies would require 60 votes to overcome a filibuster—a number far out of reach for a Republican majority.

Beyond legislative challenges, practical barriers loom large. Schiff noted that civil service unions make it “nearly impossible” to fire federal employees, meaning any attempt to shrink the government workforce would likely rely on natural attrition as workers retire or leave.

“Even with attrition, the savings during Trump’s term would be minimal,” Schiff added.

A Radical Proposal: Using the Debt Ceiling

While skeptical of DOGE’s impact, Schiff did outline one drastic strategy for Trump to force government downsizing: refuse to sign an increase in the federal debt ceiling.

“If Trump really wants to close federal agencies and departments, this is the only way to actually do it,” Schiff argued. “If he doesn’t, then he’s all talk.”

The U.S. debt ceiling, a legally set limit on how much the government can borrow, has long been a contentious issue in Washington. Failing to raise it would force the government to make immediate cuts to spending, risking furloughs, economic disruption, and a potential credit downgrade.

Treasury Secretary Janet Yellen has previously warned of “irreparable harm” to the U.S. economy and global financial stability if Congress fails to act on the debt ceiling.

Can Musk Deliver?

Undeterred by the skepticism, Musk has already set ambitious goals. At a Trump campaign event in Madison Square Garden, the tech billionaire claimed he could cut “at least $2 trillion” from the federal budget. However, he did not specify which programs or departments would face the chopping block.

Musk’s optimism echoes Trump’s campaign promise to “drain the swamp,” but critics argue that dismantling entrenched government systems is easier said than done.

A Government in Transition

As the Trump administration prepares to take office, the creation of DOGE signals a renewed focus on cutting government waste—whether symbolic or substantive remains to be seen.

For now, Americans are left to wonder: will DOGE be a transformative force for efficiency, or will it end up as just another think tank with a catchy acronym? One thing is certain: with Musk and Ramaswamy at the helm, the endeavor will be anything but conventional.