Elon Musk to Lead Government Efficiency Panel with Ambitious Goals

President-elect Donald Trump has appointed Tesla CEO Elon Musk to spearhead a newly formed panel designed to enhance government efficiency. Alongside Musk is former presidential candidate Vivek Ramaswamy. The panel is targeting a $2 trillion reduction in federal spending, with public input through online comments.

WASHINGTON, Nov 13 (Reuters) - President-elect Donald Trump has appointed Tesla CEO Elon Musk, renowned for his cost-cutting prowess at SpaceX, to lead a panel focused on streamlining the U.S. government.

Joined by former presidential candidate Vivek Ramaswamy, Musk has set an audacious target, promising to slash federal spending by at least $2 trillion—an amount that exceeds all discretionary spending for fiscal 2024. Trump's initiative, aimed at reducing bureaucracy and federal expenditure, comes as he considers options to diminish the 'deep state' and grant states more control over education.

Musk and Ramaswamy emphasized transparency, pledging to crowdsource ideas on government waste and post the panel's proposals for public comment. While reminiscent of the Grace Commission under Reagan, questions remain about Congress's willingness to enact major budget cuts.

(With inputs from agencies.)