Coinbase CEO: The Department of Government Efficiency (DOGE) can enhance economic freedom and reduce the size of government

ChainCatcher news, Coinbase CEO Brian Armstrong stated that the Department of Government Efficiency (DOGE) is a once-in-a-lifetime opportunity to increase economic freedom in the United States and reduce the size of government to restore its health. The Founding Fathers were geniuses, but they may have (humbly) overlooked the adverse incentives of the expanding size of democratic government over time (winning elections by promising more free things).

To prove this in the future, it may be necessary to limit total government spending through a constitutional amendment (say, 10%), or to adopt a coordinated incentive approach (Buffett once suggested that an unbalanced budget would make all Congress members who voted for that budget lose their re-election). Ideally, there should be a way to temporarily control spending (such as during wartime), but still have appropriate incentives to prevent long-term spending from spiraling out of control. One example is a U.S. sovereign wealth fund, where every citizen has a share (people might be able to purchase more as needed), and any budget surplus would pay dividends. This way, every citizen has a stake. Perhaps Congress would receive a slightly larger share.