US Senator from Kentucky Rand Paul has posted a tweet on X (formerly Twitter) suggesting that billionaire business magnate Elon Musk should be Speaker of the House. The tweet on X comes after contentious debates over the continuing resolution (CR).
Elon Musk is Speaker of the House?
Paul's post on X gained a lot of attention when he noted that, “The Speaker of the House does not need to be a member of Congress.” He also added:
"Nothing could disrupt the swamp more than electing Elon Musk... think about it... nothing is impossible. (not to mention the joy of seeing the collective ruling class, also known as the 'one-party party', lose their beloved sanity)
Currently, Musk is co-leading the "Government Efficiency Department", focusing on cutting spending and reducing the size of the federal government. However, some other Democrats have criticized Musk for this proposal.
Why is this position important?
This position is the chair of the U.S. House of Representatives and is one of the most powerful roles in the U.S. government. This position controls several key areas, including the legislative agenda of the House, managing debates, and enforcing rules of order.
Moreover, the Speaker of the House plays a crucial role in shaping national policy and is a central figure in U.S. politics. This could be one of the reasons, along with others, that the Democratic Party criticizes Musk for this role.
Will this affect the cryptocurrency market?
If this happens, it could cause the cryptocurrency market to surge in general, especially Dogecoin (DOGE). Musk supports cryptocurrency and holds billions of dollars in cryptocurrency. Previously, he also accepted DOGE as a payment method for Tesla cars.
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