PANews reported on February 3rd that according to Jinshi, Musk, who controls the U.S. government's Department of Efficiency "DOGE", recently outlined a blueprint for drastically cutting U.S. spending and regulations, including abolishing the U.S. Agency for International Development (USAID). Musk said in an X Spaces audio conference that U.S. regulations need to be thoroughly cleaned up. As Trump's largest funder, he revealed that his team is pushing for the closure of this foreign aid agency established by U.S. Congress, which will be the largest cut plan to date.

In addition, Musk also announced that he will hold a dialogue with JPMorgan Chase CEO Jamie Dimon this week to try to convince the bond market that his "DOGE" cost-cutting plan can enhance market confidence in US debt. Any sign of drastic cuts in spending and improvements in the fiscal deficit is good news for investors betting on a downward trend in US bond yields. This nearly one-hour audio discussion was the first time Musk talked about the "DOGE plan" in detail after Trump's victory. Republican Senators Joni Ernst and Mike Lee and former "DOGE" co-director Vivek Ramaswamy participated in this free discussion.

Analysts believe that Musk’s intensive actions in the first two weeks of Trump’s administration indicate that the authority of “DOGE” has far exceeded the scope of the executive order that created the department - the order only requires it to "improve government efficiency and productivity by upgrading federal technology software."