Washington Got the Better of Elon Musk
Musk will step down from his position leading the Department of Government Efficiency at the end of May. At the outset, the tech tycoon was ebullient, promising that DOGE would reduce the budget deficit by $2 trillion, modernize Washington, and curb waste, fraud, and abuse. His marketing plan consisted of memes and social media posts. Indeed, the DOGE brand itself was an ironic blend of memes, Bitcoin, and Internet humor.
Three months later, however, Musk is chastened. Though DOGE succeeded in dismantling USAID, modernizing the federal retirement system, and improving the Treasury Department s payment security, the initiative as a whole has fallen short. Savings, even by DOGE s fallible math, will be closer to $100 billion than $2 trillion. Washington is marginally more efficient today than it was before DOGE began, but the department failed to overcome the general tendency of governmental inertia.
Christopher Rufo.
Not exactly a surprise. Buy gold, I guess. But wait until the latest rally is over. Or you could buy bitcoin but I’m not sure how that will work if there’s no power.