Economic Dominance Is Attainable

COMMON SENSE: There are two ways to make the USA more prosperous, by increasing our Gross Domestic Product (GDP) and by paying down our debt. If we do both, our nation will be stronger than ever.

 With an additional $1.1 trillion in investments into the economy the first week of his administration, President Trump is destined to increase our GDP significantly, but we also need to lower our indebtedness. It has to be done. At our current rate, it’s unsustainable.

 Our GDP stands at $30 trillion. China’s is $19 trillion. The next closest nation is Germany, which is slightly under $5 trillion. That’s how much stronger we are, but our indebtedness stands at $35 trillion. That’s more than a year’s worth of America’s productivity. Each taxpayer owes $323,000. That’s real money that has to be paid but, with Trump promising to lower taxes, how can we lower our debt simultaneously?

 Kevin O’Leary has an excellent idea. He suggests that we designate all of the oil sold from the Anwar reserves, which have yet to be tapped, and use them to pay off out debt. I think this is an outstanding idea. It would take several years, maybe quite a few, but it’s doable and has to be done.

 By the time Trump’s term is over, our GDP will be well over $40 trillion. If our debt by then is less than $30 trillion, maybe a lot less, we will be under a year’s worth of GDP. That’s significant. If this happens, and it can, China will have no way to overtake us as the world’s dominant economic power. We have oil; they don’t. It’s our number one trump card—no pun intended. We must use it to our advantage.