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

Discover more

illustration of a stern-faced man in a suit with a green tie, set against a bright green background. A small building with a flag is depicted in the pocket of his suit

The great-man theory of Wall Street

Why finance is still dominated by bold individuals

Hong Kong’s property slump may be terminal

Demographics and geopolitics will make a recovery harder


A float is inflated in preparation for the Macy's Thanksgiving Day Parade.

Why everyone wants to lend to weak companies

An unanticipated side-effect of Donald Trump’s election victory


American veterans now receive absurdly generous benefits

An enormous rise in disability payments may complicate debt-reduction efforts

Why Black Friday sales grow more annoying every year

Nobody is to blame. Everyone suffers

Trump wastes no time in reigniting trade wars

Canada and Mexico look likely to suffer