Creation of Dogecoin by Billy Markus and Jackson Palmer
Elon Musk becomes a prominent supporter of Dogecoin, causing significant market movements
Proposal for the Department of Government Efficiency (DOGE) with Musk as potential leader
Trump announces the appointment of Elon Musk and Vivek Ramaswamy to lead the newly formed Department of Government Efficiency (DOGE), partially inspired by Musk's favorite meme cryptocurrency
Official announcement of DOGE's primary responsibility: dedicated to reducing wasteful federal government spending. Department begins initial planning of scope and objectives
Musk and Ramaswamy announce their first public goal: planning to cut up to $500 billion in government spending
Official confirmation that DOGE implementation will begin after Trump's inauguration on January 20, 2025
Musk expresses confidence in ability to cut approximately one-third of federal government spending
Planned executive order regarding DOGE is issued
Senate begins submitting proposals to DOGE, including specific plans to save $2 trillion over the next decade
Treasury Secretary Scott Bessent grants DOGE representatives access to Treasury payment systems, marking their first direct access to core federal government financial systems
First notable tensions emerge between DOGE team and federal departments. Trump spokesperson emphasizes: "The President takes improving government efficiency very seriously. Although DOGE is a humorous name, this department will play a crucial role"
House Oversight Committee Chairman James Comer announces collaboration with DOGE to improve government efficiency and eliminate Washington waste. Committee pledges necessary support for DOGE's work