Original Author: Liz Napolitano

Original Translation: Block unicorn

SpaceX CEO Elon Musk and entrepreneur Vivek Ramaswamy will co-lead a new U.S. government initiative aimed at reducing the federal budget deficit.

The program, named the "Department of Government Efficiency" (D.O.G.E), shares its acronym with Musk's favorite cryptocurrency, Dogecoin. According to elected President Donald Trump, the initiative will "cut unnecessary regulations, reduce wasteful spending, and restructure federal agencies."

However, some details of the project remain unclear. Here’s everything we currently know about DOGE.

What is DOGE?

DOGE is a forthcoming initiative from the U.S. government, first mentioned by Elon Musk in a tweet last August.

While the project initially seemed like a joke (created just for fun, and it’s no surprise that Dogecoin's price rises whenever Musk mentions it), Trump has expressed support for DOGE's initiative to cut government spending, suggesting that this once fictional department will actually become a real-life U.S. government entity.

Trump stated in a statement on Tuesday: "Elon Musk and Vivek Ramaswamy will work together to pave the way for my administration to dismantle the government bureaucracy, cut unnecessary regulations, reduce wasteful spending, and restructure federal agencies—this is crucial for the 'Save America' movement."

Trump also noted that the project will last until "no later than July 4, 2026," which marks the 250th anniversary of the Declaration of Independence.

It is worth noting that, according to information from the U.S. Congress website, DOGE is not an official department of the U.S. government in the traditional sense, as only Congress (not the President) can approve the establishment of new federal government departments.

Trump stated that Musk's meme-related ideas would exist "outside" the government system. This means that DOGE may not receive government funding. It also implies that the project's ability to directly control the budgets of U.S. government agencies will be very limited, although DOGE's directives may be implemented through Trump's supporters in Congress.

Who will manage DOGE?

Billionaires Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency. According to a tweet posted by Musk on Thursday, neither will be compensated for this work.

Of course, Musk is the CEO of Tesla and SpaceX, as well as the owner of Twitter (now called X). Ramaswamy is an entrepreneur and former Republican presidential candidate who suspended his campaign during the primaries to support Trump.

According to an official post from the department released on Thursday, the initiative is tentatively set to be composed of a group of "highly intelligent individuals who support the small government revolution" and are willing to work over 80 hours a week to cut disgraceful costs. Elon Musk tweeted this week that it is still unclear how many employees will be hired to work on the project, but these positions will be unpaid.

As of now, neither Ramaswamy nor Musk has immediately responded to requests for comment from Decrypt.

What will DOGE actually do?

Trump stated that DOGE's responsibilities will include providing recommendations and guidance for reducing government regulations and spending by issuing reports, thereby streamlining the U.S. government.

"Your money is being wasted, and the Department of Government Efficiency will address this issue. We will no longer let the government entangle you or take money from your wallets," Musk said at a Trump rally in Madison Square Garden, New York City, in October.

However, the billionaire leaders of this quasi-department have given differing opinions on how much U.S. federal spending should be cut.

Musk suggested cutting federal spending by $2 million, which would account for one-third of the total U.S. federal budget. Meanwhile, Ramaswamy indicated that he hopes to reduce the number of U.S. federal employees by 75%, although the impact of such cuts on the budget remains unclear.

Despite these differences, based on recent public comments from Ramaswamy and Musk, the DOGE leaders seem to agree on cutting a significant number of federal government employees and several U.S. agencies, such as the Department of Education and the FBI, to reduce costs.

Musk stated on Twitter on Thursday: "The extent of government funding waste is beyond the public's imagination." He referred to the over $6 trillion in U.S. federal government spending in 2023.

Musk also mentioned that DOGE will hold weekly live streams to share its progress.

Why is it called DOGE?

The acronym DOGE for this virtual department seems to be a playful reference to Dogecoin (DOGE), the high-market-cap meme coin beloved by Elon Musk. This connection was further reinforced by a T-shirt officially sold by Trump, featuring an image of elected President Trump, Musk, and a Shiba Inu.

This meme, known for its Shiba Inu mascot, was created by a pair of software engineers in 2013. Musk has stated that he owns "a bunch" of Dogecoin and has frequently discussed the token on Twitter over the past few years. In 2021, he even referred to himself as the "Dogefather" and mentioned the token while hosting Saturday Night Live.

During Musk's support for Trump's campaign, the value of Dogecoin soared, and it skyrocketed further after Trump won and officially announced the DOGE leadership. Dogecoin reached its highest price in three years last week, driving up the value of other well-known meme coins.

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