Trump taps Musk, Ramaswamy to oversee drastic changes to U.S. government [Video]

President-elect Donald Trump announced Tuesday that he is appointing business executives Elon Musk and Vivek Ramaswamy to lead a new commission on cutting government spending and regulation, handing an enormous portfolio to the tech billionaire who gave political and financial support to his presidential bid.

In a statement, Trump said that his billionaire ally and his former Republican primary rival will lead the Department of Government Efficiency, an idea championed by Musk. Trump said the department would operate outside of government to drive “drastic change,” while partnering with the White House and its budget office to provide recommendations to slash regulations, cut staff and overhaul federal operations. Musk has adopted the nickname “DOGE” for the commission, a reference to a meme-based cryptocurrency he also touted.

It is not clear how the effort will be funded or whether its recommendations will be approved, because federal spending is controlled by Congress and …