Coinbase CEO mentioned ‘DOGE’ could increase economic freedom

Trump’s plan for the U.S. Department of Government Efficiency (DOGE) is to reduce federal government spending and cut some unnecessary regulations. This idea is currently supported by Coinbase CEO Brian Armstrong.

According to Coinbase CEO Brian Armstrong, the idea of ​​creating a new Department of Government Efficiency (DOGE) is an opportunity of a lifetime. In his X post on November 17, he mentioned that the agency could increase economic freedom in the United States and return the size of government to health.

Armstrong noted that government spending could be cut by only 10% of gross domestic product (GDP). The U.S. government has more than doubled federal spending in the last few years. Therefore, he argues that the constitution should be changed.

. @DOGE It’s a once-in-a-lifetime opportunity to increase economic freedom and reduce the size of government healthcare in the United States.

The founding fathers were geniuses, but (humbly) they may have missed the negative incentives that increased the size of democratic government…

— Brian Armstrong (@brian_armstrong) 17 November 2024

He states that the unbalanced federal budget caused the congressmen who voted for him to no longer have the right to vote for the next term. Therefore, the government needs to have the right incentives to control the budget in the long run.

Armstrong also explored the idea of ​​a US sovereign wealth fund, where every citizen could contribute to the fund and become a shareholder themselves. The fund’s budget surplus can be used as dividends.

Donald Trump’s DOGE Vision

At the beginning of last week, Donald Trump, who was elected US President on November 13, officially announced Elon Musk as the leader of the newly created Department of Government Efficiency (DOGE).

Musk will be joined by American entrepreneur and Republican Vivek Ramaswamy in this brand new agency inspired by Dogecoin.

Musk and Ramaswamy were expected to reduce wasteful spending, restructure federal agencies and cut unnecessary regulations. Trump stated that this agency would bring a shock wave to the system but could potentially become the “Manhattan Project” of our time.

Since Trump won the election and announced the new agency, Dogecoin has seen a significant 163% increase in the past month, rising in price from $0.13 to $0.36. Dogecoin is expected to reach $1 in the future.