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Elon Musk’s Doge-Powered Payment System Reportedly Saving U.S. Government $1 Billion Daily, Aiming for $3 Billion
Elon Musk’s integration of Dogecoin (DOGE) into financial systems is making headlines again, with reports suggesting that the cryptocurrency is helping the U.S. government save a staggering $1 billion per day. The initiative, which leverages DOGE for transactional efficiency and cost reduction, is now targeting even greater savings of up to $3 billion daily.
The implementation of Dogecoin-based payments aims to streamline government expenditures, cutting out inefficiencies tied to traditional payment systems. Analysts believe that the reduced reliance on conventional financial intermediaries could lead to substantial long-term fiscal benefits.
Musk has long been a vocal supporter of Dogecoin, frequently advocating for its real-world applications beyond speculation. This latest development adds to the growing narrative of DOGE as a practical, cost-saving digital asset with institutional adoption potential.
DOGE’s $1B-a-Day Savings Just the Beginning—$3B Goal in Sight
The Department of Government Efficiency (DOGE) is reportedly helping the federal government save approximately $1 billion per day, according to a post on social media platform X on January 28. The savings primarily result from halting the hiring of unnecessary personnel, eliminating diversity, equity, and inclusion (DEI) programs, and preventing improper payments to foreign organizations. These cost-cutting measures align with President Donald Trump’s Executive Orders aimed at reducing government expenditures.
DOGE, which was initially championed by Tesla and SpaceX CEO Elon Musk and businessman Vivek Ramaswamy, was founded to tackle inefficiencies within the federal government. While Ramaswamy played a crucial role in shaping the department’s early direction, he eventually departed due to differing long-term priorities and a focus on his own political and business ventures. Musk, on the other hand, has remained a vocal supporter of DOGE’s mission, consistently expressing concerns over excessive government spending. Following an update on the department’s cost-saving progress, Musk acknowledged the effort by describing it as a step forward.
Source: wikimedia commons
Despite the initial success, DOGE has set its sights on even greater savings. The department has indicated that while saving $1 billion per day is a good start, the target should be increased to more than $3 billion per day.
Looking ahead, DOGE has outlined several objectives to further reduce government expenditures. These include a comprehensive review of federal agencies to identify redundant or unnecessary positions, additional cuts to foreign aid that do not align with national interests, and the removal of outdated or ineffective government programs. The department is also considering new measures to streamline bureaucratic processes and improve operational efficiency.
Musk has repeatedly raised concerns about the United States’ financial outlook, emphasizing the risks posed by mounting national debt and unsustainable government spending. When questioned about whether the U.S. could achieve a budget surplus within the next four years—a milestone last reached in 2001—Musk suggested that it was within the realm of possibility.
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