On December 5th, the DOGE Department will hold discussions on Capitol Hill. This marks the first time DOGE has been officially presented at a major event. Let’s take a look at the history of the DOGE Department.
August 20, 2024: After Trump announced Elon Musk’s appointment to a government position, @dogeofficialceo offered suggestions.
- 9:58 AM: Musk praised the name “DOGE” as a good choice.
- 10:37 AM: Musk mentioned DOGE for the first time in a tweet.
November 13, 2024, 9:02 AM: Trump officially established the DOGE Department, appointing Elon Musk and Vivek Ramaswamy as its leaders.
Interestingly, before the DOGE Department was officially announced, Elon Musk reportedly called Argentina’s Minister of Deregulation and State Transformation, Federico Sturzenegger, to discuss replicating the model of this ministry in the United States. This highlights Musk’s close relationship with Argentina’s President Javier Milei. If you’re curious about the connections between President Milei, Musk, and Trump, check out my other article.
The DOGE Department’s first tweet outlined its mission: to make the government more efficient and ensure taxpayers’ money isn’t wasted.
According to data shared in a DOGE tweet, during the 2023 fiscal year, the U.S. government spent $6.16 trillion but only generated $4.47 trillion in revenue. The last budget surplus was in 2001. This illustrates the severity of America’s debt crisis, with the national debt now exceeding $36 trillion. DOGE’s goal is to tackle this monumental issue.
Since 1971, the world has recognized the U.S. dollar largely because of the U.S. Treasury bonds backing it. Recognizing these bonds essentially reflects confidence in the strength of the U.S. economy. However, anyone with a basic understanding of economics knows that U.S. debt can never be fully repaid. Debt accrues interest, and issuing new debt always introduces more interest obligations. It’s a cycle that cannot be broken. Musk, being well-versed in economics, surely understands this.
I believe DOGE’s mission goes beyond improving government efficiency and reducing debt. Its vision may extend into the realm of cryptocurrencies like Bitcoin and Dogecoin. By transferring the U.S. dollar’s debt burden onto Bitcoin, a completely new ledger could emerge, effectively erasing dollar debt out of thin air.
This might sound like a fantasy, but consider Trump’s perspective:
When discussing the $36 trillion U.S. debt, Trump casually suggested that cryptocurrency could be used to repay it. Sign a document, and the debt vanishes.
Amazing, isn’t it? Yeah, maybe.
