Cameron Winklevoss Emphasizes The Importance Of DOGE Initiative, Says It Could Reduce Inflation

The post Cameron Winklevoss Emphasizes The Importance Of DOGE Initiative, Says It Could Reduce Inflation appeared first on Coinpedia Fintech News

US President-elect Donald Trump recently announced the creation of a new initiative known as the Department of Government Efficiency (DOGE) which will be led by Elon Musk and Vivek Ramaswamy. Its ultimate goal is to streamline federal operations and cut significant government spending by at least $2 trillion, a target that various budget experts have considered unrealistic.

Vivek Ramaswamy has vowed to revamp American bureaucracy alongside Elon Musk under their newly formed Department of Government Efficiency (DOGE). Ramaswamy noted that Musk doesn’t bring a chisel; he brings a chainsaw. “We’re going to be taking it to that bureaucracy,” the biotech CEO added. “It’s going to be a lot of fun.”

‘The Modern Manhattan Project’

Ramaswamy explained “We are assembling the brightest minds in the country. This is the equivalent of a modern Manhattan Project.” The DOGE has also announced recruitment efforts on X, seeking “super high-IQ, small-government revolutionaries” willing to dedicate over 80 hours per week to cost-cutting.

Trump in his statement noted that he looks forward to Elon and Vivek making changes to the Federal Bureaucracy with an eye on efficiency, and at the same time, making life better for all Americans. “They will work together to liberate our economy and make the U.S. Government accountable to ‘WE THE PEOPLE’, Trump shared. 

Cameron Winklevoss Underscores the Importance Of DOGE

Notably, Cameron Winklevoss, took to X to underscore the importance of DOGE and stated that ‘it goes well beyond reigning in absurd government spending. It will lead to a decline in inflation which is a silent tax on all Americans that confiscates wealth and is also regressive, impacting low-income folks the most.’

Tyler Winklevoss in a recent X post criticized Gary Gensler amidst speculations around his resignation that no amount of apology can undo the damage he has done to the crypto industry. 

While Elon Musk has acknowledged that achieving these savings might cause ‘temporary hardship’, he insisted that this will lead to heavy long-term prosperity. Critics warn that the DOGE could destabilize critical government functions, however, Ramaswamy insists that these cuts are vital for innovation and cost control.

Bitcoin Optimism For America

Cameron in another X post shared that the current bitcoin price surge is fueled by optimism for the future, which was not seen in America in a very long time. “This is not an illusory zero interest rate phenomenon, late-stage growth hype, COVID stimulus, or anything like that. This is real,” he expressed.