Coinbase CEO: U.S. government efficiency department is a great opportunity to increase economic freedom and restore government size to a healthy level
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Odaily Planet Daily Report: Coinbase CEO Brian Armstrong posted on X stating that the US Department of Efficiency (DOGE) is a rare opportunity to increase the economic freedom of the United States and restore the health of the government's scale. The founding fathers were geniuses, but may have overlooked the adverse incentive factors of the expansion of the size of democratic governments over time (winning elections by promising more free things). To prove this in the future, we may need a constitutional amendment to limit the total government spending (e.g. 10%), or find a way to coordinate incentive measures (Buffett once proposed that unbalanced budgets would make all congressional members who voted for it ineligible for re-election). Ideally, you should have a way to temporarily control spending (e.g. in times of war), but still have appropriate incentive measures so that spending does not get completely out of control in the long run. One example is a US sovereign wealth fund, where every citizen has a share (perhaps people can buy more), and any budget surplus will pay dividends. Then every citizen is involved, and perhaps Congress will get a slightly larger share. What are the best ideas to keep incentives aligned with long-term fiscal discipline?
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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