Coinbase CEO: U.S. government efficiency department is a great opportunity to increase economic freedom and restore government size to a healthy level
2024-11-17 05:49:10
Odaily News Brian Armstrong, CEO of Coinbase, wrote on X that the Department of American Government Efficiency (DOGE) is a once-in-a-lifetime opportunity to increase economic freedom in the United States and restore the size of the government to a healthy level. The founding fathers were geniuses, but they may have overlooked the adverse incentives for the expansion 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 total government spending (such as 10%), or find a way to align incentives (Buffett once proposed that an unbalanced budget would make all members of Congress who voted for it ineligible for re-election). Ideally, you should have a way to temporarily control spending (such as in times of war), but still have the right incentives to not let spending get completely out of control in the long run. An example is a U.S. sovereign wealth fund, where every citizen has a share (perhaps people can buy more), and any budget surplus pays dividends. Then every citizen participates in it, and perhaps Congress gets a slightly larger share. What are the best ideas for aligning incentives with long-term fiscal discipline? "
Download Odaily App
Let Some People Understand Web3.0 First
