The U.S Deficit is over $35T and currently represents well over 100% of GDP. The U.S needs to reduce spending dramatically.
Elon Musk (DOGE) has discussed this at length and his plan is sound,
His plan to reduce the governments overall footprint will lead to higher economic growth and increased productivity.
The Public Sector has become larger than the private sector. This is absurd, we cannot let the cancer outweigh the host.
So, first step, reduce the deficit to under 3% of GDP. Once we take control of the deficit, the next step is the debt.
To manage the debt, we should create a “public charity” or “Sovereign Wealth Fund” so that individuals and companies can donate to the Federal Government to exclusively pay down/offset the debt. For example, I could give $100 and in real time, watch the balance of the fund go up by $100. Larger players, (sorry Elon!) could transfer 10M shares of Tesla (or X!) to the fund. The fund will grow and offset the debt, AND AT TIMES, pay down the principal of the debt. Countries have done this for centuries, though usually by force. I would like to see us address the issue before this becomes the only option left.
I am suggesting we create an America First Fund that people can everybody and anybody can donate to without worrying about the funds being misappropriated -it is tracked, you see the value of the fund go up in real time. The money that is donated invests in stocks & bonds and over time, pays down the principal on the debt.
It is so easy to donate to a charity or campaign that I am passionate about, why can’t I give to the debt? EVERYONE is passionate about our kids and the future of this Country.
Elon is the first to admit he doesn’t need $250B, but he also doesn’t want to sell the stock. IF he could transfer $1B of Tesla shares to the AFF, he would probably consider it. Just like a political campaign, we can accept donations from $1 to billions of dollars.
Unlike “taxes”, the money donated to this fund can ONLY go to paying down the debt.
I believe the American people would go for this fund AS LONG AS Washington reduces spending significantly.
To summarize: Let’s create a charity, a foundation, a Sovereign Wealth Fund for the purpose of paying down the national debt.
Let’s give our children the American Dream.