Before ultimately winning the U.S. presidential election, Trump announced during a speech at the New York Economic Club in September that he would establish a government efficiency committee if elected, inviting Tesla founder Musk to lead it: BNB1357
According to Musk's suggestion, he gave me his full support... I will establish a government efficiency committee responsible for a comprehensive financial and performance audit of the entire federal government and propose suggestions for thorough reform.
As a top priority, the committee will develop an action plan to completely eliminate fraud and improper payments within six months, which will save trillions of dollars.
In this regard, as one of the key contributors to Trump's victory, Musk had previously responded positively, stating that he was willing to serve the Department of Government Efficiency (DOGE) without pay, title, or recognition.
What actions will Musk take?
Currently, with Trump's victory, more and more people are beginning to speculate on what specific measures Musk will take upon leading the efficiency committee. Although Musk has already pledged to help the Trump administration streamline at least $2 trillion (nearly one-third of the U.S. government's 2024 budget), he has yet to provide specific details. Therefore, looking at Musk's entrepreneurial history may offer some insights.
Specifically, Musk's actions and proposals while leading companies include:
After spending $44 billion to acquire the social platform Twitter in 2022, Musk immediately carried out large-scale layoffs.
In public speeches, Musk has stated that layoffs can drive a company forward, believing that one reason for low work efficiency is that some people are holding back.
During his leadership at Tesla, Musk planned to significantly reduce physical stores; although this plan was eventually canceled due to pressure from landlords, it highlights Musk's firm attitude towards cost control.
Musk places great importance on corporate reform, having once viewed bankruptcy as a powerful motivator for reform, emphasizing that the consequences of not reforming would be unimaginable.
From the above, it can be seen that Musk emphasizes cost control and reduction of workforce size in managing a company and holds a resolute attitude towards corporate innovation. Therefore, many believe that to cut $2 trillion in government spending, the most likely course of action for Musk upon leading the efficiency committee would be to continue his consistent radical measures and carry out significant layoffs in the U.S. government.
Musk hinted at supporting the abolition of the Federal Reserve.
Additionally, regarding Fed Chairman Powell's previous statement that he would not agree to resign even if Trump requested it, recent U.S. Senator Mike Lee tweeted that the U.S. should directly abolish the Federal Reserve.
The executive branch should indeed be led by the President; the Constitution is designed this way.
The Fed is one of many examples of the U.S. deviating from the Constitution in this regard, which is another reason why we should abolish the Federal Reserve.
In response, Musk retweeted Mike Lee's viewpoint with the caption '100', strongly implying that he fully agrees with Trump's intention to abolish the Fed after taking office.
