This is an adapted quote 17 November “Velshi” episode

A young lawyer in the White House in 1985, john roberts issued a prescient warning. In a note on the Reagan-era Grace Commission, which aimed to reduce waste in government spending, Roberts warned that private sector CEOs should not be allowed to control the institutions that regulate their business: calls it a “disaster” because of the inherent conflicts of interest. Decades later, that young lawyer now sits atop the Supreme Court, overseeing a nation facing an unprecedented accumulation of wealth and power.

Last week, he was elected president-elect, in a move that critics described as the ultimate merger of the two. Donald Trump They appointed tech billionaires Elon Musk and Vivek Ramaswamy as so-called co-chairmen. Office of Government Efficiency.

I know it has the word “department” in the title, but it is not an actual government agency; Congress alone has the power to create them. Instead, it appears to be some sort of pet project for two billionaires who enjoy trolling our democratic institutions.

So what exactly is the Department of Public Efficiency?

Well, Trump says he will serve as an “external advisory commission” that would “drive large-scale structural reforms” for his administration. The billionaire co-chairs say they want to cut government regulations and spending while shrinking the federal workforce. Musk promises cuts $2 trillion from the federal budget, but offered few details beyond that.

For context, the total amount Discretionary spending in the federal budget is approximately $1.7 trillion. Discretionary spending does not include mandatory spending, which includes Social Security, Medicare and other entitlement programs.

That means Musk’s proposed cuts would need to go beyond discretionary spending and target potentially critical programs. Critics say such steep cuts ruining working and middle class Americans while the rich are left untouched.

In late October, Musk seemed to acknowledge this: noting that proposed spending cuts could cause economic hardship for Americans, “We must reduce spending to live within our means. And you know that this necessarily brings with it some temporary difficulties, but it will also ensure long-term prosperity.”

That’s easy for the richest man in the world to say.

So what is the deadline for this major overhaul of the entire government? Trump says this all this will be completed “no later than July 4, 2026,” about a year and a half from now. On the other hand, Musk promises to do “much faster.” The commission’s location outside the formal government structure, which includes more than 400 de facto departments, raises serious questions about how it will achieve its goals.

If Musk’s run of social media platform X is any indication, the rush to restructure our government institutions should concern you deeply. Under Musk’s leadership, X lost 80% of its value. According to Fidelity’s October forecast.

Beyond that, there are troubling questions about allowing billionaires unfettered access to our government institutions. Musk is the head of companies such as SpaceX and Starlink, which have billions of dollars of federal contracts. Only owned by SpaceX Received government contracts worth more than 15 billion dollars, including secret Pentagon agreements.

Musk’s close ties to Trump have been clearly documented; It was stated by insiders that he wanted to be seen as Trump’s man. “co-chairman.” His $200 million super PAC played a key role in helping Trump get elected; Social media platform X, on the other hand, significantly amplified the president-elect’s political messages.

But with the creation of the Department of Government Efficiency, Musk’s influence is being formalized, even rewarded, with a fake government title. Consumer advocacy groups such as Public Citizen tagged the date “the ultimate institutional corruption.”

In a report published last month, the same group found: “At least three of Musk’s businesses are currently under investigation by at least nine federal agencies over allegations of misconduct.” This means Musk will now oversee the overhaul of the same agencies tasked with investigating him.

This isn’t the first time Trump has appointed billionaires to his administration. His Billionaires took part in the first cabinet Like Wilbur Ross, Rex Tillerson and Betsy DeVos, they have all faced criticism for placing private interests above the public good.

But critics say there is a big difference in Musk. Unlike Tillerson, who left ExxonMobil after becoming secretary of state, Musk seems to have no intention of stepping back from his work. There appears to be no safeguards against potential conflicts of interest this time around. Instead, Musk will retain control over Tesla and SpaceX while overseeing policies that could benefit their companies.

So how did we get to this point? Progressive radio host Thom Hartmann says it’s the result of decades of legal decisions This normalized the role of money in politics.

The Supreme Court’s 1976 Buckley v. decision equated spending money with free speech. Starting with the Valeo decision, a decision that opened the floodgates for big money to dominate the elections. Two years later, the same court in Boston v. Bellotti extended these rights to corporations. Dissenting justices warned that unregulated corporate power would erode the foundations of our democracy. Judge Byron White said corporate power would “dominate not just our economy but the very heart of our democracy.”

Almost fifty years after those decisions opened the door to buyout influence, Musk’s appointment risks entrenching corporate interests within the structures of our federal government.

decision in 2010 Citizens United – FEC It has further compounded these weaknesses by allowing corporations to pour unlimited funds into political campaigns, solidifying their grip on power. This opinion was written by none other than the once bright-eyed and bushy-tailed John Roberts, leading critics to label it “the best.” “Roberts Court’s War on Democracy.”

The top 1% no longer just influences policy from behind the scenes; They are seizing control of the instruments of power, a logical and perhaps inevitable consequence of allowing money to dominate our politics.

This dramatic shift reflects the dynamics of autocracies, where billionaires often blur the lines between public authorities and private interests. A study conducted in 2023 He found that billionaires are much more likely to hold office in autocracies than in democracies; It’s a trend that some fear could erode America’s democratic foundations.

In 1816, Thomas Jefferson foresaw these dangers and issued a stern warning On the risks of concentration of wealth:

As Trump’s oligarchy begins to take shape, Jefferson speaks to us from his grave and offers a sobering warning about what happens when we entrust the keys to democracy to those who profit from its dismantling.

Allison Detzel contributed.