Finance & economics | Slash and burn

How to make Elon Musk’s budget-slashing dreams come true

We offer some suggestions

Elon Musk speaks during a town hall event in support of Donald Trump at the Greater Philadelphia Expo Center in Oaks, Pennsylvania, United States on October 18th 2024
Photograph: Getty Images
|WASHINGTON, DC

ELON MUSK and Vivek Ramaswamy plan to whip the American state into shape. On November 14th their newly created Department of Government Efficiency (DOGE) announced that it wants to hire “super-high-IQ small-government revolutionaries” to work on cost-cutting. It is easy to ridicule the enterprise. Mr Musk has talked of ripping $2trn from the federal budget, an amount that, if done in a year, would exceed the government’s entire discretionary spending. His focus on deregulation, job cuts and fraud is unlikely to provide the requisite savings. Donald Trump has given DOGE less than two years. The entity is an advisory body. And its name is inspired by a joke cryptocurrency.

Explore more

This article appeared in the Finance & economics section of the print edition under the headline “A memo to DOGE”

From the November 23rd 2024 edition

Discover stories from this section and more in the list of contents

Explore the edition

More from Finance & economics

China meets its official growth target. Not everyone is convinced

For one thing, 2024 saw the second-weakest rise in nominal GDP since the 1970s

Ethiopia's Prime Minister Abiy Ahmed speaks during the launch of the Ethiopian Securities Exchange in Addis Ababa, Ethiopia, on January 10th 2025

Ethiopia gets a stockmarket. Now it just needs some firms to list

The country is no longer the most populous without a bourse


Shibuya crossing in Tokyo, Japan

Are big cities overrated?

New economic research suggests so


Why catastrophe bonds are failing to cover disaster damage 

The innovative form of insurance is reaching its limits

“The Traitors”, a reality TV show, offers a useful economics lesson

It is a finite, sequential, incomplete information game

Will Donald Trump unleash Wall Street?

Bankers have plenty of reason to be hopeful