Entrepreneurs will oversee a newly created Department of Government Efficiency
Donald Trump has named Elon Musk and Vivek Ramaswamy to lead a “department of government efficiency”, giving the two private-sector entrepreneurs charge of a promised effort to slash rules, bureaucracy and spending throughout government. “Threat to democracy? Nope, threat to BUREAUCRACY!!!” Musk, the world’s richest man and an ardent Trump backer, wrote on his X social media platform. “We will not go quietly, @elonmusk,” Ramaswamy wrote in another X post.
On the campaign trail, Musk called for cutting $2tn — which would represent a significant chunk of the $6.7tn in spending from fiscal year 2024’s budget — and said the election was crucial to cutting away regulations that would strangle his dream of colonising Mars. Musk’s bet on Trump has been a boon for Tesla, the electric-vehicle maker he runs, whose stock has jumped almost 50 per cent over the past month.
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