JP Morgan Predicts the Future of Elon Musk's D.O.G.E

President-elect Donald Trump has appointed billionaire entrepreneur Elon Musk and Republican Party leader Vivek Ramaswamy to lead the Department of Government Efficiency (DOGE). The goal of this new department is to streamline federal operations and reduce government waste. However, leading investment bank JP Morgan recently released a report on DOGE, raising doubts about the effectiveness of this department. JP Morgan has assessed the prospects of DOGE, saying that the new department will struggle to control government spending. While DOGE's mission is to support reducing bureaucracy and government intervention, the reality will be different. In theory, this idea seems great, but in reality, this department will find it difficult to navigate. JP Morgan: Parliament controls government spending, not DOGE JP Morgan wrote in its article that the National Assembly controls the government's spending and DOGE is outside the National Assembly. DOGE can only make proposals, but the general control over government spending lies with the National Assembly. This department may not be able to perform the tasks assigned to it because officially, it does not have the authority. “We believe that the department led by Elon Musk, with the goal of reducing government waste, will face difficulties in implementing that,” JP Morgan wrote. “Regarding government efficiency, President-elect Trump is expected to pursue a pro-deregulation agenda. Part of this agenda includes a new Department of Government Efficiency (DOGE),” JPMorgan said, adding: “The key point is that the National Assembly controls the government's spending, and DOGE is outside the National Assembly,” JP Morgan wrote. “The ministry can make any proposal they want, but in the end, the majority of 60 ordinary votes in the National Assembly will make legislative changes.”

In summary, JP Morgan, the global investment bank, doubts the usefulness of Elon Musk's DOGE. The new department can only make suggestions, but the ultimate power lies with the Parliament to control spending.