Caitlin Long, Custodia Bank CEO suggestions to Elon Musk as he intends to reduce the federal budget by $2 trillion with DOGE.
Caitlin Long, CEO of Custodia Bank, has provided the Department of Government Efficiency (DOGE) with her recommendations in response to Elon Musk’s proposal to reduce the U.S. federal budget by a minimum of $2 trillion. Musk participated in the Madison Square Garden rally in New York City, accompanied by Republican presidential candidate Donald Trump and approximately twenty-five other speakers.
Caitlin Long Urges DOGE and Elon Musk to Accelerate Their Progress
On October 28, Caitlin Long, CEO of Custodia Bank, appeared on X after Elon Musk predicted that the Biden-Harris administration would save at least $2 trillion from the $6.5 trillion that was squandered. Musk stated during the Trump rally at MSG, “Your money is being squandered.” We will remove the government from your back and out of your pocket.
To reduce government expenditure, Trump has expressed his intention to request that Musk lead the Department of Government Efficiency (DOGE), a reference to a cryptocurrency that Musk has embraced.
Long suggests that Howard Lutnick and Musk, the founders of DOGE, should also monitor federal employees and the regulations that devastate businesses such as Custodia. She stated, “The regulatory abuse has been staggering.” She also noted that the Department of Government Efficiency must act quickly, as the Democrats will pursue a majority in the U.S. Senate in 2026.
“If the DOGE team truly intends to implement a significant initiative that is resistant to reversal by the subsequent president, it would be necessary for it to be executed rapidly.”
They have long cautioned that Musk’s DOGE would encounter an economic depression due to the reduction in federal expenditure, which accounts for 23% of the US GDP. She believes the government’s assessment of the relationship between GDP growth and spending needs to be more accurate. “It is an inappropriate measure, and they will be required to explain,” stated Caitlin Long.
She recommends two actions:
Instead of concentrating on GDP, which disregards the quantity of B2B or supply chain spending, economic performance should be evaluated by “gross output,” which encompasses B2B spending.
“Therein lies the opportunity for the Department of Government Efficiency: cease measuring the economy by GDP growth.” “Cutting government spending will undoubtedly decrease GDP; however, the more significant impact will be the increase in B2B activity, which is where the genuine growth is, as capital and jobs are redistributed to the private sector,” stated Caitlin Long.
DOGE Price has increased by more than 4%
The price of DOGE has increased by over 4% in the past 24 hours and is currently trading at $0.143. The 24-hour low and high are $0.136 and $0.145, respectively. Additionally, the trading volume has increased by 90% in the past 24 hours, suggesting significant interest among traders.
This month, the price experienced a 40% increase in response to Musk’s posts and developments regarding DOGE. The crypto community anticipates a DOGE rally to $1 following Donald Trump‘s victory.
