LiveLife
Well-known member
Wow, did not anticipate this during my retirement years. I wonder how much will actually become reality?
Trump put Elon and Vivek in charge of "Department of Government Efficiency" with a deadline to coincide with 250th anniversary of Declaration of Independence - https://finance.yahoo.com/news/what...-name-of-government-efficiency-184344052.html
Trump put Elon and Vivek in charge of "Department of Government Efficiency" with a deadline to coincide with 250th anniversary of Declaration of Independence - https://finance.yahoo.com/news/what...-name-of-government-efficiency-184344052.html
"Their work will conclude no later than July 4, 2026, the perfect gift to America on the 250th Anniversary of The Declaration of Independence."
- Elon Musk and Vivek Ramaswamy have Trump's backing to cut government spending and "making changes to the Federal Bureaucracy with an eye on efficiency."
- For some time, both suggested they could aim to do much more than slim down Washington and poised to make a run at abolishing huge areas of that bureaucracy entirely
- "99 Federal agencies is more than enough," Musk posted Tuesday night suggesting a massive culling of the hundreds of existing agencies, with the Bureau of Alcohol, Tobacco, and Firearms (ATF) and the Education Department already in focus (There are 80 agencies that begin with the letter U alone)
- Both directly discussed eliminating high-profile areas like the Education Department, the FBI, and the Internal Revenue Service.
- Ramaswamy promised elimination of at least five larger agencies during his run for president last year. He also discussed cutting 90% of the staff at the Federal Reserve during that campaign.
A detailed list of cuts
- Ramaswamy during his 2023 presidential run pledged to fire 75% of federal employees and promised to abolish at least five well-known federal agencies — including the Department of Education, the FBI, the ATF, the IRS, the Nuclear Regulatory Commission, and the USDA's Food and Nutrition Service
- He promised giant cuts and wrote in a 2023 Wall Street Journal op-ed that "I intend to make the 2024 presidential race in part a referendum on the proper role of our central bank." with Trump's claim to fire or demote Fed Chair Jerome Powell who responded that he won't be going anywhere
- Musk has offered more scattered plans but has acknowledged that his effort would lead to "temporary hardship." ... He's been working closely with Trump since Trump's victory last week
- Musk has pledged to cut $2 trillion out of the $6+ trillion annual budget without specifying exactly how ... With US discretionary budget at $1.7 trillion, programs like Medicare, Medicaid, and Social Security may be cut to accomplish his goals
- Their disruptive effort is gaining some high-profile fans ... "I think Elon Musk represents wholesale change, and I think we actually need wholesale change ... Our financial situation is fixable. It is fixable in a way that is positive for the base that the president-elect has said that he wants to help ... But it is not fixable by small amounts of tinkering. It is about wholesale change." - Apollo Global Management CEO Marc Rowan
- It is also not immediately clear how the proposed department will operate and whether Congressional Republicans, who control spending by law, will have any interest in playing along with a massive government reorganization
- Trump set a deadline ... "Their work will conclude no later than July 4, 2026," the president-elect announced Wednesday, calling it "the perfect gift to America on the 250th Anniversary of The Declaration of Independence."
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