Coinbase CEO Backs Creation of DOGE and Advocates U.S. Government Downsizing

Brian Armstrong, CEO of Coinbase, has voiced support for the establishment of a new U.S. government body, the Department of Government Efficiency (DOGE). He also called for a reduction in the size of the government to enhance economic freedom in the country.

. @DOGE is a once in a lifetime opportunity to increase economic freedom in the U.S. and cut the size of government back to health.

The founding fathers were geniuses but (with humility) may have missed the adverse incentives which grow the size of democratic government over…

— Brian Armstrong (@brian_armstrong) November 17, 2024

“DOGE is a unique opportunity to increase economic freedom in the U.S. and shrink the government back to a healthy size. The Founding Fathers were geniuses, but they may have missed adverse incentives that grow democratic governments over time (winning elections by promising more free stuff),” Armstrong stated.

Constitutional Amendment Proposal

Armstrong suggested a constitutional amendment to cap government spending at 10% or align incentives more effectively. He referenced billionaire Warren Buffett’s idea to prevent re-election for members of Congress who support unbalanced budgets.

“Ideally, you have the ability to temporarily increase spending (say, during wartime), but still maintain the right incentives to prevent expenses from spiraling out of control long-term. A good example would be a U.S. sovereign wealth fund,” Armstrong added.

National Wealth Fund Concept

Armstrong proposed creating a national wealth fund in which every American would hold a share that grows over time. Any budget surplus would be converted into dividends for participants of this fund.

Leadership and Goals of DOGE

The Department of Government Efficiency (DOGE) will reportedly be led by billionaire Elon Musk and former U.S. presidential candidate Vivek Ramaswamy. The department’s mission is to reform the government by reducing administrative costs and combating bureaucracy. Planned reforms include eliminating certain government agencies and reducing staff in others.

“We will apply an entrepreneurial approach and offer a fresh perspective on the functioning of the U.S. government. By July 4, 2026, the 250th anniversary of independence, we will complete the necessary reforms,” DOGE leaders promise.

Armstrong’s remarks and the creation of DOGE signal a push for more efficient governance, potentially reshaping the U.S. government’s administrative structure while fostering greater economic participation among citizens.