Billionaire Elon Musk and entrepreneur Vivek Ramaswamy will lead a new US department of government efficiency.
and entrepreneur Vivek Ramaswamy will lead a new department of government efficiency tasked to “dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures and restructure federal agencies”, US President-elect Donald Trump announced on Tuesday.
It’s not clear how Musk and Ramaswamy will drive the dramatic overhaul of the government they’ve promised Musk predicted he could cut at least US$2-trillion from the US federal budget at Trump’s rally last month at Madison Square Garden, though that would exceed the amount congress spends annually on government agency operations, including defence. It would likely require making significant cuts to popular entitlement programmes such as social security, Medicare, Medicaid and veterans’ benefits.
Musk, 53, saw his net worth top $300-billion shortly after the election — the first time he’d surpassed that mark in almost three years. He is the only person to ever have a fortune in excess of $300-billion.He’s likely to serve as a special government employee, the formal designation for individuals outside of government brought in for short periods to lend their expertise.
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