Coinbase CEO Brian Armstrong has voiced support for a new initiative proposed by President-elect Donald Trump, called the Department of Government Efficiency (DOGE). This plan aims to reduce federal spending and cut unnecessary regulations, potentially increasing economic freedom in the United States.
The DOGE Initiative: A Game-Changer?
On November 17, Armstrong shared on social media platform X (formerly Twitter) that DOGE could be a “once-in-a-lifetime opportunity” to reshape the U.S. government. He believes that reducing federal spending by even 10% of the gross domestic product (GDP) could help return the government to a more balanced, efficient state.
Armstrong suggests that constitutional amendments might be necessary to ensure responsible budgeting. He proposes holding Congress members accountable by preventing those who approve unbalanced budgets from seeking re-election. This approach, according to Armstrong, could provide a long-term solution to control spending.
A Sovereign Wealth Fund for Citizens
Another innovative idea Armstrong floated is creating a U.S. sovereign wealth fund. This fund would allow citizens to contribute and hold a share, with budget surpluses being paid out as dividends. This strategy could empower citizens financially while helping the government manage funds more sustainably.
Elon Musk and the New DOGE Agency
The DOGE agency, inspired by Dogecoin, is being led by entrepreneur Elon Musk with Republican Vivek Ramaswamy as his partner. Their goal is to cut waste, restructure federal agencies, and streamline regulations. President Trump has called this initiative a potential “Manhattan Project” for government reform.
Dogecoin’s Price Surge
Since Trump’s announcement of the DOGE agency, Dogecoin has surged by 163%, increasing from $0.13 to $0.36, with speculation that it may hit $1 in the future.
Conclusion
With influential figures like Armstrong and Musk backing it, the DOGE initiative has garnered substantial attention. Its potential impact on government efficiency and economic freedom could mark a transformative period for the U.S.
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Disclosure: This article is for educational purposes only and does not constitute investment advice.