New Delhi, November 13 (IANS). Global investor Mark Mobius has said that Elon Musk, who is leading the New Department of Government Efficiency (DOGE) under the presidency of Donald Trump in America, will be successful in reducing the huge amount of wasteful expenditure of the US government.
Speaking to IANS, Mobius said that Government Efficiency Chief Musk is in a good position to make necessary changes in the US government.
Mark Mobius, who runs Mobius EM Opportunities Fund, said that this will increase efficiency as well as productivity in America.
America’s newly elected President Donald Trump has announced the appointment of Vivek Ramaswamy, apart from veteran industrialist Elon Musk, to lead the New Department of Government Efficiency (DOGE). Both have been given the responsibility of rapidly changing the government while cutting down wasteful expenditure.
Trump said that DOGE “will probably become the ‘Manhattan Project’ of our time.” He was referring to the US efforts during World War II to develop nuclear weapons in record time.
Trump said, “These two will work for my American administration to eliminate bureaucracy, cut waste, eliminate unnecessary regulations and reorganize federal agencies.”
Musk said that all the work of the Department of Government Efficiency will be posted online to make it more transparent. Whenever people feel that we are finishing something important or not finishing something useless, let us know. We’ll also have a leaderboard for the biggest wastes of your tax dollars.
Musk claims that he will be able to cut government expenditure by at least 2 trillion dollars (168 lakh crores) through the new department.
This is a new department, so it is unclear whether its leaders will be in the Cabinet, whether they will be recognized by the Senate, and what their positions will be.
–IANS
ABS/ABM
