Trump to create a new department of “Efficiency of Government” and picks Elon Musk for it
US President-elect Donald Trump on Wednesday named billionaire Elon Musk to lead a new Department of Government Efficiency, tasked with dismantling government bureaucracy, cutting redundant regulations, cutting costs and restructuring federal agencies.
This came in a post by Musk on X, in implementation of a pledge made by Trump more than a month ago, to appoint Musk to a position to enhance the efficiency of the federal government.
“All of the Department of Government Efficiency’s actions will be posted online for maximum transparency,” Musk said.
“Any time the public thinks we’re cutting something important or not cutting something wasteful, just let us know,” he added.
During the campaign, Trump said the government efficiency effort would put in place a plan to crack down on fraud and improper payments, and conduct a full financial and performance audit of the federal government.
Last month, Musk predicted that he could cut at least $2 trillion from the US federal budget, meaning the government would face a sharp cut in spending.
In the last fiscal year, the government spent more than $6.75 trillion, with a deficit approaching $2 trillion.
According to Bloomberg, Musk is likely to work as a special government employee, which is the official appointment of individuals outside the government who are brought in for short periods to gain their expertise.
Since Trump won the US elections, Musk’s wealth has jumped by more than $70 billion, after the shares of his companies rose, led by Tesla, to stabilize his wealth at $320 billion, at the end of trading on Tuesday.
