So, Elon Musk’s little pet project, the Department of Government Efficiency (DOGE), has magically saved US taxpayers a whopping $36.7 billion. 🎉 Who knew a meme could be so financially savvy? This has sparked a delightful chorus from crypto enthusiasts demanding that Uncle Sam gets a little more transparent with his spending habits. Because, you know, who doesn’t want to see where their tax dollars are going? Spoiler alert: it’s probably not to buy more avocado toast. 🥑
According to the Doge-tracker (yes, that’s a thing), this savings is just a teeny tiny 1.8% of Musk’s grand plan to slash US government spending by a staggering $2 trillion. I mean, who doesn’t love a good budget cut? Musk laid out this vision during a riveting chat with political strategist Mark Penn on January 9. I can only imagine the riveting conversation that ensued. 😴
Brian Armstrong, the co-founder and CEO of Coinbase, took to social media to applaud Musk’s progress. Because nothing says “I care” like a tweet, right? He tweeted on February 9:
“Great progress DOGE. Imagine if every government expenditure was done transparently onchain. Would make it much easier to audit.”
Now, let’s talk about this magical blockchain. It’s like a financial fairy godmother, offering a transparent foundation for financial systems. Because who doesn’t want their spending habits scrutinized in real-time by anyone with an internet connection? Sounds like a fun Saturday night! 🎉
Imagine a blockchain-based treasury that only allows spending if the majority of the population votes on it. Because nothing says “efficient government” like a public poll on whether we should buy new office chairs. 🪑
Musk’s DOGE Discovers $100 Billion Loophole, Reaches Joint Agreement with US Treasury
In a plot twist worthy of a Netflix series, Musk’s agency and the US Treasury have struck a deal after uncovering a $100 billion yearly loophole in government spending. I mean, who knew the government was so good at hide-and-seek? 🤷♀️
Apparently, there are about $100 billion in yearly entitlement payments going to individuals without a Social Security number. Musk called this “extremely suspicious.” I mean, if you can’t even get a Social Security number, should you really be getting a check? Just a thought. 💭
“When I asked if anyone at Treasury had a rough guess for what percentage of that number is unequivocal and obvious fraud, the consensus in the room was about half, so $50B/year or $1B/week!! This is utterly insane and must be addressed immediately.”
Musk’s first criteria? All government payments must have a categorization code. Because apparently, leaving it blank was the government’s way of playing “guess who?” 🙈
Payments will also need a “rationale” – you know, just in case someone wants to know why they’re getting paid. And Musk is pushing for the “DO-NOT-PAY list of entities” to be updated more frequently. Because who doesn’t love a good list? 📋
According to Jean Rausis, co-founder of decentralized finance platform Smardex, Musk’s proposal could make the US a “de facto global leader in blockchain innovation.” Because nothing screams “innovation” like a government agency trying to figure out how to use the internet. 💻
“While it’s hard to say which blockchain would be up to the task, the important thing is that it is permissionless. Otherwise, the promised transparency would be just a sham.”
In less than three weeks since the official DOGE website launched on January 21, Musk’s agency managed to save taxpayers $36 billion. I mean, at this rate, we might just have
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2025-02-09 13:50