These are the U.S government departments that spend the maximum money; will Musk and Ramaswamy suggest drastic steps to cut spending?

US President- elect Donald Trump has eventually appointed Elon Musk and Vivek Ramaswamy to co-lead a newly established Department of Government Efficiency (DOGE) which is aimed at reducing federal spending and bureaucracy. According to Insider, the initiative which is announced pretty recently aligns with Donald Trump's campaign promises to cut government waste eventually targeting areas such as education and transportation for potential reductions.

Insider reported that the US government spent approximately $6.75 trillion in fiscal year of 2024 while pretty significant expenditures were allotted for Social Security and health care. In the meantime, Elon Musk has previously expressed his ambitions to identify $2 trillion in cuts which would actually represent a substantial portion of the federal budget.

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However, for now the DOGE does not officially exist as a government department and its effectiveness will certainly depend on Congress's approval for any proposed spending cuts, noted Insider. US President- elect Donald Trump described the effort as a ‘modern-day Manhattan Project’, which is aimed for transformative changes in US government operations by July 4, 2026.

Both Elon Musk and Vivek Ramaswamy have indicated their intent to address perceived inefficiencies within federal agencies while additionally, Vivek Ramaswamy is advocating for the elimination of certain departments, asserted Insider. The recent announcement has raised several questions about the potential conflicts of interest given Elon Musk's business ties to federal contracts.

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FAQs:

What has been recently established by US President- elect Donald Trump and who were appointed as the co-heads of that recent establishment?
US President- elect Donald Trump has eventually appointed Elon Musk and Vivek Ramaswamy to co-lead a newly established Department of Government Efficiency (DOGE) which is aimed at reducing federal spending and bureaucracy.

How much money was spent by the US government in the fiscal year of 2024?
US government spent approximately $6.75 trillion in fiscal year of 2024 while pretty significant expenditures were allotted for Social Security and health care.