TechFlow news, November 25 — According to Bitcoin.com News on November 22, JPMorgan released a report expressing skepticism about the prospects of Trump's newly established Department of Government Efficiency (DOGE). JPMorgan pointed out that since Congress controls government spending decisions and requires a 60-vote majority to advance legislative changes, DOGE will face significant obstacles in actual operation.
JPMorgan explained why DOGE might encounter such hurdles: "Ultimately, Congress controls government spending, while DOGE sits outside of Congress. The department can make all the recommendations it wants, but legislative changes still require the typical 60-vote majority in Congress." The bank expects investors to closely watch which agendas the Trump 2.0 administration will prioritize moving forward in 2025.
The department, led by Elon Musk and Vivek Ramaswamy, aims to streamline federal operations and eliminate unnecessary expenditures. Musk stated that DOGE has the potential to reduce federal spending by at least $2 trillion, emphasizing the urgent need for action to prevent the United States from heading toward bankruptcy.
