Elon Musk’s Department of Government Efficiency (DOGE) has saved U.S. taxpayers $36.7 billion, though this is just 1.8% of his $2 trillion spending cut target. DOGE has been investigating federal waste, recently uncovering over $100 billion in annual government payments to individuals without valid Social Security numbers or temporary identification. The U.S. Treasury estimates at least $50 billion of this could be fraudulent. In response, DOGE and the Treasury have introduced new tracking measures, including mandatory payment categorization and more frequent updates to the government’s “do-not-pay” list.
DOGE has also flagged inefficiencies in the Department of Defense (DoD), which failed its 2023 audit, unable to account for 63% of its $3.8 trillion in assets. The DoD’s liabilities stand at $4 trillion, yet its financial records remain incomplete despite spending $1 billion on previous audits. Officials hope to resolve this by 2028, but Musk has set a July 2026 deadline for DOGE’s mission.
In its latest review, DOGE canceled 199 federal contracts across 35 agencies, saving an estimated $250 million. Among the terminated projects were a $20 million climate resilience program in Sri Lanka and a federal diversity workshop. The department also flagged 62 contracts worth $182 million as excessive administrative expenses.
The push for transparency has led to discussions about using blockchain technology to track government spending. Coinbase CEO Brian Armstrong and other industry leaders have suggested that integrating blockchain could make audits more efficient and spending more transparent. Jean Rausis, co-founder of Smardex, argued that a permissionless blockchain could bridge Web2 and Web3, ensuring real-time verification of government transactions.
Blockchain adoption has already gained traction in the private sector, with banks like JP Morgan, Citigroup, and DBS integrating it into their financial systems. Deutsche Bank predicts blockchain wallet users will surpass 250 million by 2030. If implemented in the U.S. Treasury, it could transform government spending oversight.
DOGE’s findings have fueled political debate. Senator Bernie Sanders accused Musk of using transparency efforts as an excuse to cut social programs. He criticized the termination of USAID programs and warned that Medicaid, Medicare, and Pell Grants could be next. Musk dismissed the claims with a laughing emoji. Other Democratic lawmakers, including Alexandria Ocasio-Cortez and Letitia James, have also pushed back against his efforts.
Despite opposition, some Republican lawmakers support DOGE’s measures, arguing that eliminating deficit spending could strengthen the economy. Research from DataRepublican revealed that $322 billion in taxpayer funds have been funneled to tax-exempt organizations without proper oversight.
DOGE’s work is set to conclude by July 4, 2026, coinciding with the 250th anniversary of the Declaration of Independence. Musk has promised a more efficient government with reduced bureaucracy by that deadline.
