All the reasons Trump’s government investment fund is a very bad idea.
Now here’s an idea: Leverage federal assets to create a new investment fund for the political class to invest in whatever it pleases, including private companies. What could possibly go wrong?
The answer is plenty, which is why President Trump’s proposal Monday to create a new sovereign wealth fund deserves to die in Congress. His executive order included scant details. But it said the fund would “promote fiscal sustainability,” “establish economic security for future generations, and promote United States economic and strategic leadership internationally.” More likely, it would take resources from the private economy, fund political boondoggles, and mess with the business decisions of private companies.
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