Musk isn’t introducing a novel idea. For years, people have advocated eliminating the penny, as pennies are rarely spent as change. And since the Covid-19 pandemic, more consumers are shopping online or avoiding physical currency altogether .

There are already some signals about which government expenses could be on the chopping block for Elon Musk's DOGE.

Elon Musk’s Department of Government Efficiency has vowed to stop wasteful spending in Washington and slash the federal workforce under President Donald Trump. Musk is keen to “delete” entire US agencies,

Elon Musk, the genius billionaire behind Tesla, SpaceX, and now the Department of Government Efficiency (D.O.G.E), has vowed to cut wasteful spending in Washington under his “best friend” President Donald Trump’s administration.