Trump spoke about the end of the government's Efficiency Department, headed by billionaire Elon Musk, and his 'campaign to reform' America.

“The work of the Department of Government Efficiency will be completed no later than July 2, 2026 – the result being a leaner, more efficient, and less bureaucratic government – ​​which will be the perfect gift to America on the occasion of the 250th anniversary of Independence Day. I am confident they will succeed!” President-elect Donald Trump said at an event.

Trump announces a 'campaign to reform' America, the Department of Government Efficiency will crack down on waste, preparing the perfect gift to celebrate the 250th anniversary of Independence Day. (Source: LinkedIn)

"I am pleased to announce that the great Elon Musk, along with businessman Vivek Ramaswamy, will be co-Secretaries of the Department for Government Effectiveness (DOGE), according to a recent statement by Mr. Trump."

"Together, these two great Americans will pave the way for my administration to dismantle government bureaucracy, cut redundant regulations, reduce wasteful spending, and restructure federal agencies—essential to the 'Save America' movement," said the 45th President of the United States.

"I hope Elon and Vivek will make changes to the federal bureaucracy with the goal of increasing efficiency and improving the lives of all Americans." Trump also spoke about his expectations for DOGE – “potentially becoming the Manhattan Project of our time. Republican politicians have dreamed of DOGE’s goals for a very long time.”

President-elect Donald Trump stated that DOGE would not be a federal agency. “To drive powerful change, the Department for Government Effectiveness will provide advice and guidance from outside the government, working with the White House and the Office of Management & Budget to drive large-scale structural reform and create an entrepreneurial approach to government. Something never seen before.”

"The important thing is that we will eliminate the enormous waste and fraud that exists in the $6.5 trillion of annual government spending. Together, they will unleash our economy and hold the American government accountable to the people," Trump concluded.

While this development surprised some, others had anticipated it, as Trump had promised during his campaign to create a role in the federal government for billionaire Elon Musk – a figure with considerable influence in American politics during this election cycle.

"The introduction of DOGE will send shockwaves through the entire system and anyone involved in government waste – a lot of people!" Musk said in response to President-elect Donald Trump's announcement.

Meanwhile, the 38-year-old businessman, Ramaswamy, who owns assets worth hundreds of millions of dollars, immediately posted on social media : "We won't go easy on you, @elonmusk" and added an American flag emoji.

Mr. Ramaswamy also further clarified some of DOGE's objectives. "This is a key point about our mission at DOGE – eliminating bureaucratic regulations is not just a policy priority," Mr. Ramaswamy said.

After citing several legal issues, court cases, and existing lawsuits in the United States, Vivek Ramaswamy—whom the President-elect called "a patriotic American"—declared, "DOGE is ready to help the U.S. government uphold the Constitution, @elonmusk and I are ready to serve."

Businessman Ramaswamy is a prominent figure in the Republican Party, having competed against Trump and Nikki Haley in the party's presidential nomination campaign (February 2023). After withdrawing from the Republican nomination race, he switched his support to Donald Trump.

During his campaign, Ramaswamy argued that 75% of the US government was inefficient. Meanwhile, billionaire Elon Musk, who successfully revived Twitter (later renamed X ) after drastically cutting 80% of its staff, also claimed that these cuts would save the federal budget $2 trillion.

Besides the very impressive information about the Department of Government Effectiveness that President-elect Donald Trump has just officially announced, there is another rather surprising development regarding the price of Dogecoin (DOGE) cryptocurrency.

The surge in Bitcoin's price to new highs has been a hot topic in the cryptocurrency world these days, but it's not the only digital asset causing excitement and buzz. Bitcoin's increase pales in comparison to DOGE – which has risen by 120% in the past week – and could continue to climb in the near future.

What is DOGE and why has its price surged so dramatically? Speculation surrounding information about President-elect Donald Trump's DOGE Department, hinted at by billionaire Musk months before its official announcement, has caused the price of Dogecoin, also known as DOGE – the acronym for the US Department of Government Effectiveness and a cryptocurrency heavily promoted by the tech billionaire – to skyrocket by 120% in a single week.

The DOGE rose from $0.165 on the night of Trump's re-election to a high of $0.44 shortly afterward.

After peaking at $0.44, the price of DOGE corrected down to $0.337, but media attention following statements from billionaire Musk helped the price recover quickly. DOGE reached its highest level of $0.434 on the morning of November 13th.

Source: https://baoquocte.vn/ong-trump-noi-ve-ngay-ket-thuc-cua-bo-hieu-qua-chinh-phu-do-ty-phu-elon-musk-dung-dau-va-chien-dich-cai-to-nuoc-my-293709.html