Staff Reports
In a bold move reminiscent of his business-savvy days, President Trump has officially put pen to paper to create a U.S. sovereign wealth fund, finally giving Americans a shot at playing in the big leagues of global investment. The executive order signed on Monday promises to take whatever government surpluses exist—yes, they still exist, though they’re as rare as Bigfoot sightings—and put them to work in high-return ventures. Leaving no stone unturned, Treasury Secretary Scott Bessent and Commerce Secretary nominee Howard Lutnick will take the reins, ready to navigate the choppy but lucrative waters of investment.
Let’s face it: the notion that the United States should have a sovereign wealth fund has long lived in the realm of “Why didn’t we think of this sooner?” Trump, always the pragmatist, underscored that it’s high time for America to join the ranks of countries like Saudi Arabia and Norway, who have efficiently milked their surpluses for all they’re worth. It’s more than just a fancy financial tool; it’s a matter of national pride. After all, if other nations can turn their extra dollars into global clout, why can’t the greatest nation on Earth do the same?
The president provocatively suggested that the fund could even be leveraged to purchase TikTok, the social media darling that was almost as forbidden as a good cup of coffee in a liberal café. Who knew that a U.S. wealth fund could double as a means to seize control of an app that was on the brink of going belly-up in America? There’s a certain comedy in changing the narrative from banning to buying. Meanwhile, Bessent predicts that this fund will be operational within a year, laying the groundwork for investments that could ostensibly benefit all Americans.
However, there’s a hitch in this grand proposal. Given that the federal government has mainly accumulated more debt than a college student with a credit card, the prospect of finding any surplus to invest in the fund sounds like a far-off dream. The last significant surplus the government claimed was back in 2001, and trying to funnel tariff revenues into this fund feels a bit like trying to squeeze juice from a stone. Trump’s one-month pause on tariffs against Mexico could end up looking like a temporary reprieve rather than a lasting windfall for this initiative.
Trump signs executive order creating a sovereign wealth fund for U.S. https://t.co/PinqZFyhqj
— Jeffrey A. Setaro (@jasetaro) February 3, 2025
Introducing a sovereign wealth fund will also require congressional approval, which could bring more headaches than a weekend spent with the in-laws. Lawmakers may grumble about the potential erosion of their spending powers, fearing that the Oval Office could just sidestep them entirely. But who could blame Trump for wanting to cut through the bureaucratic red tape? After all, the last thing that needs to happen is a bunch of politicians getting too cozy with what could be a financial game-changer for American infrastructure and technology.
While even the Biden administration has been tossing around the idea, the right’s embrace of this initiative carries a sense of optimism that may be absent from the left. With over 100 sovereign wealth funds globally raking in more than $10 trillion, America’s late entrance into this arena could still be a game-changer. If Trump pulls this off, it may not only pay down the national debt but also restore some of the fiscal discipline missing in Washington. Who knows, perhaps we’ll soon see an American sovereign wealth fund that doesn’t just hoard money but creates opportunities for growth, echoing a time when America was truly great.
