Billionaires Elon Musk and Vivek Ramaswamy will head an effort, dubbed DOGE, to reduce wasteful federal spending. Here's what it's about.

Donald Trump has announced that Elon Musk will head up the newly-created Department of Government Efficiency in his second administration alongside venture capitalist Vivek Ramaswamy.Under Musk, the new office – which will operate “outside of government” – will advise on gutting federal departments and which staff should be fired if it deems they are a “massive waste.