1-2 days in the White House is still too much, he should take some time for his family or a break of 3-4 years....๐๐๐๐
PRETTY _N
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๐จ *Elon Musk Steps Back from the U.S. DOGE Office โ What It Means for Government & Markets* ๐บ๐ธ๐ถ
Elon Musk has announced a significant reduction in his involvement with the Department of Government Efficiency (DOGE), a federal initiative aimed at streamlining government operations. Musk will now dedicate only 1โ2 days per week to DOGE, focusing more on his role at Tesla following a 71% year-over-year decline in the company's earnings .
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๐ DOGEโs Savings: From 2 Trillion Ambition to160 Billion Reality
Initially, DOGE aimed to save the U.S. government 2 trillion through efficiency reforms. However, actual savings have been reported at approximately160 billion, achieved through contract cancellations, lease terminations, and workforce reductions . This figure represents just 8% of the original goal.
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โ๏ธ Legal Challenges and Public Scrutiny
DOGE's aggressive cost-cutting measures have led to over 216,000 federal job losses and the dismantling of several agencies . These actions have sparked legal challenges and public protests, with courts ordering DOGE to disclose internal documents and submit officials for depositions. Some courts have already ruled against the task force, citing concerns over transparency and legal authority.
โณ Future of DOGE: A Planned Dissolution by 2026
Despite the controversies, DOGE plans to conclude its operations by July 4, 2026, aligning with the 250th anniversary of the Declaration of Independence. Musk refers to DOGE as โthe first government agency designed to die,โ aiming to leave behind a legacy of streamlined governance. In the interim, DOGE is introducing initiatives like a 5 million "Golden Card" visa for wealthy immigrants to generate revenue .
Tesla has experienced a significant financial downturn, with profits down 71โ
๐ Clarifying DOGE and Dogecoin
It's important to note that the Department of Government Efficiency (DOGE) is unrelated to Dogecoin, the cryptocurrency. However, Dogecoin has seen a 3.10.1793 .
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๐ฎ Outlook and Predictions
- *Government Efficiency*: With Musk stepping back, DOGE's aggressive reform pace may slow, and control is expected to revert to traditional cabinet officials .
- *Legal and Public Response*: Ongoing legal challenges and public scrutiny may influence the future operations and policies of DOGE.
- *Economic Impact*: While DOGE has achieved some cost savings, the long-term economic impact remains uncertain, especially given the legal and operational challenges.
$DOGE
$XRP
$BTC
#dinnerwithtrump #MarketRebound
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.ย See T&Cs.
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