In a significant move towards government efficiency, President Trump, alongside Elon Musk, has announced plans for substantial cuts to the federal workforce. Under a new executive order, federal agencies will only be permitted to hire one new employee for every four that leave, aiming for a large-scale downsizing. During a press conference in the Oval Office, Musk defended these cost-cutting measures, claiming that without them, the US could face bankruptcy. The duo also discussed the importance of transparency in the context of cryptocurrency Dogecoin (DOGE), with Musk facing questions regarding potential conflicts of interest. As they strive to overhaul government operations, both leaders emphasized the necessity of reducing bureaucratic structures and the need for oversight on federal spending.