The China Mail - Musk outlines plans for mass cuts as Trump 'efficiency' czar

USD -
AED 3.672505
AFN 64.999602
ALL 81.8702
AMD 362.466517
ANG 1.790365
AOA 917.999892
ARS 1524.858402
AUD 1.437009
AWG 1.8
AZN 1.688092
BAM 1.740516
BBD 2.01375
BDT 122.920986
BGN 1.683441
BHD 0.37687
BIF 3016.29395
BMD 1
BND 1.279623
BOB 12.012672
BRL 5.2386
BSD 0.999844
BTN 96.860456
BWP 13.821826
BYN 3.011507
BYR 19600
BZD 2.010786
CAD 1.424335
CDF 2309.999758
CHF 0.82908
CLF 0.024891
CLP 982.879702
CNY 6.7046
CNH 6.704745
COP 3274.93
CRC 458.133471
CUC 1
CUP 23.995372
CVE 98.130217
CZK 21.69035
DJF 178.038427
DKK 6.634365
DOP 59.696976
DZD 133.63833
EGP 52.3018
ERN 15
ETB 163.30358
EUR 0.88759
FJD 2.24725
FKP 0.757935
GBP 0.755555
GEL 2.594988
GGP 0.757935
GHS 11.742144
GIP 0.757935
GMD 73.504552
GNF 8794.81726
GTQ 7.640625
GYD 209.141311
HKD 7.84725
HNL 26.843171
HRK 6.684502
HTG 130.925789
HUF 326.922497
IDR 17933
ILS 3.05233
IMP 0.757935
INR 96.113984
IQD 1309.809331
IRR 1746539.000234
ISK 121.78025
JEP 0.757935
JMD 158.282088
JOD 0.708998
JPY 157.766992
KES 129.74973
KGS 87.450011
KHR 4055.388942
KMF 437.999797
KPW 900.000318
KRW 1346.329716
KWD 0.30876
KYD 0.833148
KZT 449.216421
LAK 22458.151269
LBP 89529.691296
LKR 330.631023
LRD 170.963522
LSL 16.71656
LTL 2.95274
LVL 0.60489
LYD 6.403012
MAD 9.93361
MDL 17.867027
MGA 4417.588481
MKD 54.802323
MMK 2099.878546
MNT 3598.367683
MOP 8.081321
MRU 39.951768
MUR 48.150173
MVR 15.450454
MWK 1733.663199
MXN 18.175345
MYR 4.085201
MZN 63.909975
NAD 16.717378
NGN 1328.889707
NIO 36.788196
NOK 9.61796
NPR 154.976729
NZD 1.78014
OMR 0.384484
PAB 0.999831
PEN 3.464622
PGK 4.52806
PHP 62.508029
PKR 276.912159
PLN 3.88725
PYG 5849.556144
QAR 3.64447
RON 4.749199
RSD 104.227999
RUB 83.746683
RWF 1480.746469
SAR 3.756424
SBD 8.064852
SCR 13.813723
SDG 601.498027
SEK 10.03021
SGD 1.278445
SHP 0.757461
SLE 24.589851
SLL 20969.491881
SOS 571.400603
SRD 37.811499
STD 20697.981008
STN 21.803457
SVC 8.748081
SYP 13002.000254
SZL 16.713089
THB 33.556989
TJS 9.20325
TMT 3.51
TND 2.979331
TOP 2.40776
TRY 49.144797
TTD 6.77945
TWD 31.833498
TZS 2635.002976
UAH 44.988787
UGX 3989.587737
UYU 40.296887
UZS 11792.713098
VES 865.478024
VND 25985.5
VUV 120.084308
WST 2.780871
XAF 582.220927
XAG 0.016556
XAU 0.000241224261
XCD 2.70255
XCG 1.80192
XDR 0.707052
XOF 582.220927
XPF 106.128696
YER 236.375033
ZAR 16.64983
ZMK 9001.194587
ZMW 19.645988
ZWL 321.999592
SSP 5712.591901
MXV 2.056508
  • RYCEF

    0.4000

    19.71

    +2.03%

  • CMSC

    0.0000

    20.4

    0%

  • BTI

    0.4200

    56.05

    +0.75%

  • BP

    0.2800

    44.43

    +0.63%

  • RBGPF

    1.6000

    67

    +2.39%

  • RIO

    -0.1500

    94.41

    -0.16%

  • AZN

    -0.4300

    166.15

    -0.26%

  • GSK

    0.4600

    49.7

    +0.93%

  • BCE

    -0.4100

    20.56

    -1.99%

  • NGG

    -0.2500

    75.24

    -0.33%

  • VOD

    -0.0400

    16.58

    -0.24%

  • RELX

    -0.4500

    33.07

    -1.36%

  • BCC

    -0.5500

    76.59

    -0.72%

  • CMSD

    -0.0300

    20.27

    -0.15%

  • JRI

    -0.2500

    10.77

    -2.32%

Musk outlines plans for mass cuts as Trump 'efficiency' czar
Musk outlines plans for mass cuts as Trump 'efficiency' czar / Photo: © AFP/File

Musk outlines plans for mass cuts as Trump 'efficiency' czar

Elon Musk outlined plans Wednesday for his new role as "efficiency" czar -- signaling an assault on federal spending and staffing that would be backed by President-elect Donald Trump's executive powers and a conservative Supreme Court.

Text size:

Writing in the Wall Street Journal, the world's richest man said he was taking aim at hundreds of billions of dollars in government spending -- including funding for public broadcasting and international aid -- as well as at bureaucracy that represents, according to him, an "existential threat" to US democracy.

The Tesla and SpaceX CEO, who also owns the X social media platform, said that he and Vivek Ramaswamy, a fellow businessman and Trump loyalist, would work to slash federal regulations and make major administrative changes.

"We are entrepreneurs, not politicians. We will serve as outside volunteers, not federal officials or employees," Musk and Ramaswamy wrote in their most detailed remarks since Trump named them heads of a new so-called Department of Government Efficiency.

They said DOGE -- expected to function more as an advisory group rather than a formal department -- will prepare a list of regulations which Trump could invalidate unilaterally.

"When the president nullifies thousands of such regulations, critics will allege executive overreach. In fact, it will be correcting the executive overreach of thousands of regulations promulgated by administrative fiat that were never authorized by Congress," they said.

Musk and Ramaswamy added that a reduction in regulations would pave the way for "mass head-count reductions across the federal bureaucracy," and said DOGE would aim to cut more than $500 billion in government expenditures.

"With a decisive electoral mandate and a 6-3 conservative majority on the Supreme Court, DOGE has a historic opportunity for structural reductions in the federal government," they said.

- Supreme Court allies -

Moves to gut programs will almost certainly face political pushback, even from Republicans, and prompt legal challenges.

However Musk and Ramaswamy voiced confidence that recent rulings by the conservative-dominated Supreme Court would allow them to push through the ambitious agenda.

"With a decisive electoral mandate and a 6-3 conservative majority on the Supreme Court, DOGE has a historic opportunity for structural reductions in the federal government," they said.

They said that DOGE's top goal was to not be needed by July 4, 2026, which was described as an expiration date for the project.

Musk become a close ally to Trump during his campaign, reportedly spending over $100 million to boost his presidential bid and joining him at rallies.

However, with Musk's businesses all having varying degrees of interactions with US and foreign governments, his new position also raises concerns about conflict of interest.

The South African-born billionaire invited Trump to watch a test flight of his SpaceX company on Tuesday in a sign of ever closer ties between the pair.

But their relationship -- defined by combustible personalities and some past policy differences -- could be subject to friction once the reality of political life sets in.

H.Au--ThChM