**Elon Musk and Vivek Ramaswamy Lead Initiative to Slash Federal Spending by $2 Trillion**

In a significant move to overhaul federal spending, billionaires Elon Musk and Vivek Ramaswamy have pledged to reduce government expenses by at least $2 trillion. The ambitious plan, which the co-heads of the upcoming Trump administration's Department of Government Efficiency (DOGE) commission disclosed, aims to target key federal agencies such as the Pentagon and the Education Department. Both Musk and Ramaswamy announced this bold agenda through various platforms, including an op-ed in the Wall Street Journal.

The duo’s strategy involves defunding programs that no longer have Congressional authorization. While they have not pinpointed specific programs, several high-profile initiatives related to veterans' healthcare, drug development, and NASA could be affected. Notably, Musk’s company SpaceX holds approximately $11.8 billion in federal contracts, illustrating a potential conflict of interest.

Musk highlighted the misuse of federal funds by reposting content on the social media platform X, which he owns, suggesting funds were misallocated on "transgender monkeys, DEI, and checks to dead people." He termed this as an opportunity for DOGE to correct spending inefficiencies.

Skepticism remains about how much DOGE can achieve without legislative support. The Impoundment Control Act of 1974 prevents the president from unilaterally stopping congressionally-approved spending, stating it is unconstitutional. This act was enforced following President Nixon's refusal to release funds for programs he opposed. Thus, for DOGE to achieve its goals, cooperation with Congress will be essential.

In their Wall Street Journal opinion piece, Musk and Ramaswamy explained their intention to streamline federal agencies by employing fewer staff and utilizing advanced technology. They plan to enforce a return-to-office mandate requiring federal employees to work in the office five days a week, which they believe will lead to a wave of voluntary resignations. For those affected, they propose generous severance packages and incentives for early retirement.

The Department of Government Efficiency is set to work closely with a subcommittee of the House Oversight Committee led by Rep. Marjorie Taylor Greene, as appointed by Rep. James Comer. The subcommittee aims to focus on reducing government waste, and it is expected to be established early next year. The final deadline for the proposed cuts is July 4, 2026, though Musk is optimistic the reductions will be completed sooner.

Musk, with an estimated net worth of $320 billion, and Ramaswamy, who recently surpassed the $1 billion mark, are using their private sector experience to influence federal fiscal policies. Despite their advisory roles, Musk will not need to divest from his holdings or step down from his positions at SpaceX and Tesla.