Official government reports or announcements on deregulation actions

Elon Musk and Ramaswamy’s DOGE Targets $1 Trillion Savings by 2026

Jan 12, 2025, 05:30 PM

Elon Musk and Vivek Ramaswamy are leading the Department of Government Efficiency (DOGE), a cost-cutting initiative announced by President-elect Donald Trump. DOGE aims to streamline federal government operations by embedding two representatives in most major government agencies and providing recommendations to reduce wasteful spending. The initiative, which is not an official government department, plans to save up to $1 trillion, though Musk previously suggested a $2 trillion target. DOGE’s staff, including tech executives and high-IQ recruits, will work unpaid and focus on deregulation and restructuring. The team operates out of SpaceX’s Washington office and uses encrypted communication via Signal for secrecy. DOGE also collaborates with the Congressional DOGE Caucus and plans to deploy some staff to the US Digital Service. Marc Andreessen assists in recruitment efforts. Critics question the feasibility of achieving such savings without affecting essential programs like Social Security and Medicare. DOGE is set to conclude its work by July 4, 2026, coinciding with the U.S. Declaration of Independence’s 250th anniversary.