Vivek Ramaswamy, the entrepreneur and 2024 Republican presidential candidate, has pledged to lead a significant reduction in the size of the U.S. government if appointed to head Donald Trump’s newly proposed Department of Government Efficiency. The department, which Trump announced as part of his second-term agenda, aims to tackle government waste, fraud, and inefficiency.
In a statement posted to X (formerly Twitter), Ramaswamy expressed his commitment to downsizing the federal government, citing recent Supreme Court rulings that criticized the overreach of the administrative state. “Slapping the bureaucracy on the wrist won’t solve the problem, the only right answer is a massive downsizing,” Ramaswamy said.
Ramaswamy also shared plans to crowdsources examples of government waste, encouraging Americans to actively participate in identifying and addressing inefficiencies. He emphasized that voters, who have called for drastic government reform, deserve to be part of the solution.
Trump’s announcement on Tuesday revealed that Ramaswamy and Elon Musk will lead the new department. In a statement on Truth Social, the President-elect outlined the goals of the department, including dismantling bureaucracy, cutting unnecessary regulations, slashing wasteful spending, and restructuring federal agencies.
“I look forward to Elon and Vivek making changes to the Federal Bureaucracy with an eye on efficiency and, at the same time, making life better for all Americans,” Trump said. He further described the effort as the “Manhattan Project of our time” and echoed Musk’s remark about how it would create significant disruptions in the system, particularly among those responsible for government waste.
Details about the new department remain scarce. Trump clarified that it will not be a federal agency but will collaborate with the White House and the Office of Management and Budget to drive large-scale reforms and create a more entrepreneurial approach to government operations.
The proposed overhaul comes in the context of mounting concerns over the country’s growing fiscal deficit. For the 2024 financial year, the U.S. government is projected to spend $6.75 trillion while collecting $4.92 trillion in revenue, resulting in a $1.83 trillion addition to the national deficit. The national debt has surpassed $35.95 trillion, with net interest on the debt now the second-largest federal expenditure, following Social Security.
Ramaswamy and Musk’s initiative to reduce government spending and improve efficiency aligns with their shared belief that federal overspending contributes to inflation and threatens the country’s financial stability. However, Musk has also acknowledged concerns that such a major overhaul could trigger short-term economic instability, potentially affecting financial markets before they recover.
As Trump’s new administration takes shape, this department’s success in executing its ambitious agenda could have far-reaching implications for the future of U.S. governance and public spending.