... Mainly, Elon deplored the failure to address the $36-trillion-plus national debt, widely recognized as a time-bomb on a short fuse liable to sink the whole USS United States. I will tell you a harsh truth: nobody will do anything about the national debt. The sheer math of our annual debt service is simply impossible. Our country is heading into some sort of bankruptcy proceeding, some kind of ferocious “work out” — as they say in the banking board-rooms.
Mr. Trump is betting that re-industrialization of the USA will produce enough of the right sort of growth — that is, production of real things of real value, as opposed to mere financial shenanigans — that the debt reckoning can be overcome somehow. Or mitigated. It’s a bold risk, and many pieces of the scheme are indeed falling into place: tariffs, bigly investment capital from foreigners, a general realignment of trade relations, tax reform, downsizing of government.
But a virulent opposition, the mad-dog remnants of the Democratic Party, seeks to wreck Mr. Trump’s program (and perhaps the USA altogether), and it is a miracle that the president has gotten this far with his plan. Personally, I’m doubtful that the energy resources will be there to underwrite this reindustrialization, but that is a topic for another day.
