Elon Musk, Vivek Ramaswamy Lead Government Efficiency Panel

President-elect Donald Trump has appointed Elon Musk and Vivek Ramaswamy to co-lead a newly formed panel called the Department of Government Efficiency (DOGE), which aims to streamline government operations, cut $500 billion in spending, and reduce federal workforce numbers. Their initiative is supported by recent U.S. Supreme Court rulings that limit federal agency powers, allowing them to pursue significant regulatory reforms. While Trump has tasked them with these ambitious goals, questions remain regarding the panel's authority to implement changes, as DOGE is not an officially recognized government body and thus lacks direct congressional backing. The panel is expected to release preliminary reports by July 4, 2026, coinciding with the 250th anniversary of the Declaration of Independence. Ramaswamy's background includes a successful career in biotech and a brief presidential run, while Musk's involvement is seen as a continuation of his unconventional approach to governance. Additionally, the playful naming of the initiative references the Dogecoin meme, reflecting Musk's influence in the cryptocurrency space.