Trump’s plan for the U.S. Department of Government Efficiency (DOGE) is to cut federal government spending and remove some unnecessary regulations. This idea is now supported by Coinbase CEO Brian Armstrong.
According to Coinbase CEO Brian Armstrong, the idea of creating a new Department of Government Efficiency (DOGE) is a unique opportunity. He mentioned on X after November 17 that the agency could increase economic freedom in the United States and reduce the size of government in favor of health care.
Armstrong noted that government spending could be cut by as little as 10% of gross domestic product (GDP). As the U.S. government has used federal spending, it has more than doubled in recent years. He therefore suggests that the Constitution be amended.
He mentions that the imbalance in the federal budget means that members of Congress who vote for him are not entitled to the next elections. Therefore, the government must have the appropriate incentives to control the budget in the long term.
Armstrong also explored the idea of a US sovereign wealth fund, where every citizen could contribute funding and would have a share. The fund’s budget surplus could be used as a dividend.
Donald Trump’s vision of DOGE
Earlier last week, on November 13, US President-elect Donald Trump officially announced that Elon Musk would head a newly created agency, the Department of Government Effectiveness (DOGE).
This brand new agency was inspired by Dogecoin and Musk will be accompanied by the American entrepreneur and Republican Vivek Ramaswamy.
Musk and Ramaswamy needed to cut wasteful spending, restructure federal agencies, and remove unnecessary regulations. Trump said the agency would be a shockwave to the system, but would potentially become “the Manhattan Project” of our time.
Since Trump won the election and announced the new agency, Dogecoin has seen a significant increase of 163% over the past month and a price increase from $0.13 to $0.36. It is already predicted that Dogecoin will reach $1 in the future.
