The Department of Government Efficiency (D.O.G.E.), a proposal seeking to trim the bureaucratic spending of the U.S. by at least $2 trillion, is getting attention from people in cryptocurrency circles. Brian Armstrong, CEO of Coinbase, the largest U.S.-based crypto exchange, has recently praised D.O.G.E., referring to the possible actions the institution might have to spearhead to achieve its objectives.
The department, which will be co-led by Spacex CEO Elon Musk and former Republican presidential candidate Vivek Ramaswamy, was praised for the possibilities of controlling U.S. spending and ensuring frugality in the management of public funds.
Read more: Elon Musk’s DOGE Plan Lets Public Call out ‘Insanely Dumb’ Government Spending
On the idea of D.O.G.E., Armstrong noted it was a “once in a lifetime opportunity to increase economic freedom in the U.S. and cut the size of government back to health.” He stressed that while the founding fathers of America built the country, they might have missed the intricacies of the democratic system, which pushes for increasing the size of the government to perpetuate its existence in elections.
“We may need a constitutional amendment capping total government expenditure (at say 10%), or a way to align incentives,” Armstrong stressed, offering different ideas for achieving D.O.G.E.’s goals. He believes that setting up a sovereign fund where citizens get a share and have skin in the game might help put D.O.G.E. on the right path for cutting these expenses.
Even with these statements, the real reach of D.O.G.E. is still in question, as its future status as an official government institution is disputed by some due to the predicted reach of D.O.G.E.’s actions. Ramaswamy has stated that complete government agencies might be deleted, as President Milei did when starting his actual mandate, dismantling and disarming several ministries in Argentina.
President Milei commented before that its Chainsaw model, featuring deregulation and state streamlining moves, was similar to what Musk hopes to apply in the U.S.
Read more: Elon Musk Ready to Implement Milei’s Chainsaw Model in the US
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
