Donald Trump Taps Elon Musk and Vivek Ramaswamy to Reform Government with ‘DOGE’

Donald Trump’s rapid fire hiring continued on Tuesday with the president-elect following through on a campaign promise to streamline the federal government with the creation of a new Department of Government Efficiency (a.k.a. DOGE) with Elon Musk and Vivek Ramaswamy at the helm.

In a statement, Trump said that the men will work together to “dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies.” He believes the initiative has the potential to become “The Manhattan Project of our time.”

On Wednesday’s show, Megyn was joined by Bill Ackman, CEO of Pershing Square, to discuss the appointments and how he believes DOGE with benefit the U.S. economy.

Defining ‘DOGE’

Not to be confused with the canine-themed cryptocurrency of the same name, DOGE is a new advisory agency that will exist outside the confines of the federal government. Trump said that Musk and Ramaswamy will provide “advice and guidance from outside of Government, and will partner with the White House and Office of Management & Budget to drive large scale structural reform, and create an entrepreneurial approach to Government never seen before.”

Musk, who served a key role in Trump’s campaign, reacted to the news on X, writing: “Threat to democracy? Nope, threat to BUREAUCRACY!!!” He also suggested the group will be soliciting input from the American people. “Anytime the public thinks we are cutting something important or not cutting something wasteful, just let us know,” he tweeted, adding that DOGE’s actions “will be posted online for maximum transparency.”

Ramaswamy, meanwhile, confirmed that he is now out of the running to take over Vice President-elect J.D. Vance’s U.S. Senate seat in Ohio. “We will not go gently, Elon Musk,” he tweeted. “And yes, this means I’m withdrawing myself from consideration for the pending Senate appointment in Ohio. Whoever Governor DeWine appoints to JD’s seat has some big shoes to fill. I will help them however I can.”

The president-elect has already signaled there will be an end date on the DOGE project. “Their work will conclude no later than July 4, 2026,” Trump said in a statement. “A smaller Government, with more efficiency and less bureaucracy, will be the perfect gift to America on the 250th Anniversary of The Declaration of Independence. I am confident they will succeed!”

The Opportunity

While Megyn noted that the corporate media and bureaucrats in Washington, D.C., are spiraling over the elevation of Musk, Ackman said he has been “really super impressed” with Trump’s personnel decisions thus far and sees the incoming administration as “the dream team.”

He said this project isn’t simply about cutting costs. “My day job is to find these really great companies that have lost their way, and then what we try to do is bring in great new management and have them fix the business. That is basically what is happening here, and they are not going to have to look far,” Ackman explained. “Everyone knows the government is the most ineffective bureaucracy in the world… and now we have an opportunity not just to find cost savings but actually to operate more effectively.”

DOGE has been a topic of conversation throughout the 2024 campaign cycle, and Ackman pointed out that Musk has been making the case for months. “The analogy that Musk makes is… when you go get your license updated, think about how inefficient that process is. Well, imagine the entire country being run that way,” he said. “And I think that is the opportunity.”

Ackman believes having “outsiders” like Musk and Ramaswamy in charge will prove crucial. “Elon certainly has the playbook. X was a quasi-governmental agency in the way it operated in San Francisco,” he explained. “He stepped in, he took out 80 to 90 percent of the employees, and it has become a much more effective platform. Software development, the various features, functionality have been able to happen much more quickly under new leadership, and I think that is what we have here.”

As for the criticism that DOGE will hurt the job market and economy by leaving government workers unemployed, Ackman said there are ways to do this right. “I think there is a massive amount of waste, and I think you are going to see fairly dramatic change,” he noted. “I think they are going to be quite generous with severance and making sure that people can transition to the private sector… So, I think it is going to be a huge boon for the economy and for business… and that will help everyone.”

You can check out Megyn’s full interview with Ackman by tuning in to episode 943 on YouTube, Apple Podcasts, or wherever you like to listen. And don’t forget that you can catch The Megyn Kelly Show live on SiriusXM’s Triumph (channel 111) weekdays from 12pm to 2pm ET.