Debt

There is an old saying that goes like this. He had more luck than sense. It refers to a positive outcome when the person involved had little understanding of what was happening. The United States may be embarking on just such a scenario. The national debt has exceeded $33 trillion and poses a long term threat. Just when things seem to be going bad along comes de globalization which means bringing production back home. For forty years the US has been moving production over seas and that is now changing. The US will be doubling its manufacturing facilities in the next few years and these new plants will have the latest technology combined with artificial intelligence which means increased productivity which allows for more profits which leads to more taxes going to the government which means paying down debt and chipping into the $33 trillion. Dream on. If the government would use this new tax revenue to pay down debt, that would be the outcome but will the government do that or will they just initiate new programs to garner votes. Based on past experiences the government will not chose to pay down debt because getting reelected is more important than strengthening the economy. One possible benefit is that as people earn more income they as individuals can choose to pay down debt but even that is iffy. The is the door opening to pay down debt but who will enter.