President-elect Donald Trump's selection of two billionaires to lead the US Department of Government Performance has many people interested in this brand new agency.
Mr. Trump chose billionaire Musk and billionaire Ramaswamy (right) to lead the US Department of Government Efficiency.
President-elect Donald Trump said he will choose billionaires Elon Musk and Vivek Ramaswamy to lead the new Department of Government Efficiency, which is expected to bear his stamp.
"Mr. Musk and Mr. Ramaswamy, these two great Americans, will pave the way for my administration to dismantle government bureaucracy, cut unnecessary regulations, cut wasteful spending, and restructure federal agencies," Newsweek magazine quoted Mr. Trump as saying.
Billionaire Elon Musk will lead a ministry under President Trump
A government performance review board is an idea promoted by billionaire Musk and mentioned by Mr Trump during his campaign in September.
Maximum transparency
“This is going to shake up the entire system and anyone who is involved in government waste, which is a lot of people!” Musk said.
Mr Trump said the new agency would not be a federal agency, but would provide direction “from outside government” by partnering with the White House and the US Office of Management and Budget to “push forward large-scale structural reform and create an entrepreneurial approach to government like never before”.
Assets of 2 future officials
According to Forbes magazine on November 13, billionaire Musk currently has assets worth 308.1 billion USD, higher than the second richest person in the world, billionaire Larry Ellison - founder of Oracle Corporation - with assets worth 231.4 billion USD. Businessman Ramaswamy (39 years old) has assets worth 1 billion USD.
During the campaign, Mr. Trump touted Mr. Musk, CEO of electric car maker Tesla and SpaceX, for a position in his administration. In a speech at the Economic Club of New York in September, Mr. Trump said he planned to “create a government efficiency commission” at Mr. Musk’s suggestion.
"I would like to serve America if given the opportunity. No salary, no title, no recognition," Mr. Musk wrote on social network X at that time.
The billionaire then pledged that all actions of the US Department of Government Efficiency would be posted online for maximum transparency.
Don't be gentle
For his part, billionaire Ramaswamy - founder of pharmaceutical company Roivant Sciences - responded to Mr. Trump's announcement by saying, "We will not go easy on Elon Musk!". Mr. Ramaswamy once ran for the Republican nomination for the White House, before withdrawing and endorsing Mr. Trump.
During his campaign, Ramaswamy focused on cutting government spending, including cutting the FBI, the Department of Education and the Nuclear Regulatory Commission if elected. Trump has also floated the idea of closing the Department of Education.
After being selected by Mr. Trump, Mr. Ramaswamy posted on social network X the slogan "shut it down," which he used during the election campaign when referring to the closure of some federal agencies.
"Gift" for America
According to Reuters, Mr. Trump said that the work of running the US Government Efficiency Department of Mr. Musk and Mr. Ramaswamy will end before July 4, 2026, so that a smaller and more efficient government will become a gift to the country on the 250th anniversary of the US Declaration of Independence.
Last month, Musk said he could cut at least $2 trillion in federal spending. The federal government is spending $6.8 trillion in fiscal year 2024, according to the Treasury Department.
However, some people doubt the feasibility of the above commitment. CNN quoted former US Treasury Secretary Larry Summers as saying that Mr. Musk would be able to cut $200 billion from the federal budget.
Economist Glenn Hubbard, former dean of Columbia University Business School (USA), said it would be difficult to cut such a large amount of spending without touching interest costs, welfare programs and defense. Mr. Hubbard was the former chairman of the US Council of Economic Advisers in the administration of former President George W. Bush.
Source: https://thanhnien.vn/ong-trump-tuyen-bo-lap-mot-bo-chan-dong-do-2-ti-phu-lanh-dao-185241113151820225.htm
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