Trump And Biden Agree: The Us Should Finally Start A Sovereign Wealth Fund

Something Biden and Trump can agree on — a sovereign wealth fund isn't a bad idea. Chip Somodevilla, Steven Hirsch-Pool/Getty ImagesThe Biden administration appears to be exploring the possibility of a sovereign wealth fund.Last week, Donald Trump proposed a similar idea.The fund could support technology, energy, and supply chain initiatives or even ease national debt.Bipartisanship in the United States is unusual, especially during election time.So it is noteworthy that Democratic and Republican leaders both appear to want to establish a sovereign wealth fund to help the United States pay for stuff.Top aides to President Joe Biden, including National Security Advisor Jake Sullivan and his deputy, Daleep Singh, have been quietly developing plans for a sovereign wealth fund over the past several months, Bloomberg reported.The details, including the structure, funding, and investment strategy, remain unclear, but planning documents are making the rounds through the White House and Biden hopes to make it happen before he leaves office.News of Biden's effort came not long after former president Donald Trump called for a similar state-owned investment fund to finance "great national endeavors" during a campaign stop at the Economic Club of New York last week.Sovereign wealth funds are an old idea that many other countries — particularly ones that generate vast wealth from their natural resources, like Saudi Arabia or Norway — have long used to pay for big things.

BING NEWS:
  • Are America’s right and left converging on foreign policy?
    The interview of Jeffrey Sachs, a Social Progressive, by Tucker Carlson, a Social Conservative, makes riveting viewing since its an insight to where the polar enemies of American politics may be ...
    09/14/2024 - 7:58 am | View Link
  • Tom Campbell: Trump and Biden both agree on the same bad idea, a sovereign wealth fund
    A sovereign wealth fund creates the potential for conflict of interest, on top of its financial vulnerabilities, and should be resisted.
    09/14/2024 - 3:00 am | View Link
  • Trump’s Economics, Too, Are Sounding More Authoritarian
    At first nobody stood up when Donald Trump stepped out from the wings to speak. There was an ovation, but a sitting one, from the well-heeled attendees of the Economic Club of New York luncheon on ...
    09/12/2024 - 1:00 pm | View Link
  • Trump and Biden Agree: Just Call Debt 'Wealth' Instead!
    Amidst campaign discord, a bipartisan idea is emerging: America can set aside taxpayer dollars for special projects and brand it a national "wealth fund" to help improve public perception of the ...
    09/12/2024 - 4:00 am | View Link
  • A Sovereign Wealth Fund is One Policy Idea Biden and Trump Agree On
    Key Takeaways President Joe Biden and former President Donald Trump disagree on many points about how to run the economy, but they have at least one idea in common: the U.S. should create a sovereign ...
    09/11/2024 - 11:00 pm | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News