President-elect Donald Trump announced Tuesday that Elon Musk and Vivek Ramaswamy will lead his administration's new Department of Government Efficiency, or DOGE, to end "government waste" and "slash excess regulations.

Billionaires Elon Musk and Vivek Ramaswamy are looking for "super high-IQ small-government revolutionaries" willing to work long hours to join their cost-cutting commission.

To do that, he’s creating a new agency, called the Department of Government Efficiency.If the name sounds like a meme, it’s because it is. DOGE is the brainchild of billionaire Elon Musk, who came up with the acronym in homage to the mascot for the digital currency Dogecoin,