Elon Musk has announced that the US government does not plan to incorporate Dogecoin into its official activities. Speaking at a town hall in Green Bay, Wisconsin, on March 30, Musk responded to rumors about the link between Dogecoin and the Department of Government Efficiency (D.O.G.E.).

Musk claimed that there was no connection between the two names and that it was a pure coincidence. “There are no plans for the government to use Dogecoin or anything as far as I know,” he said. “They happen to be similar names, but really, we’re literally just trying to make the government 15% more efficient.”

The department’s name, as Musk said, came from suggestions from the public. He noted that in the beginning, he named it the “Government Efficiency Commission,” but he had to change the name after consulting the public.The memecoin’s logo is also included on the D.O.G.E website.

Musk’s $1 trillion deficit reduction goal

D.O.G.E is one of the key initiatives of President Donald Trump’s administration to minimize the spending of the federal government and reform its agencies. Since its creation, the department has carried out dismissals and reduced budgets for climate change and diversity initiatives.

Some of the affected agencies include the US Agency for International Development (USAID), the Consumer Financial Protection Bureau (CFPB), and the Social Security Administration (SSA).

D.O.G.E noted that an area of concern was the federal credit card, which has 4.6 million credit cards, yet the federal government has between 2.3 to 2.4 million workers. Musk considered this as rather ridiculous and wanted the cuts to be implemented without any delay.

In an interview with Fox News, Musk announced his intention to resign from the Trump administration after cutting the deficit to $1 trillion. He estimated that most of the project cost cut could be achieved in 130 days. According to the estimates, this means that his work could end in May.

“I think we will accomplish most of the work required to reduce the deficit by a trillion dollars within that time frame.”

~ Musk

The reforms have been deemed noble by fiscal conservatives, but it has also sparked protests in the country. According to reports, Tesla facilities have turned into protest grounds because of anger provoked by Musk’s role with the federal government.

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