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While Trump’s order claimed it would “promote fiscal sustainability,” “establish economic security for future generations, and promote United States economic and strategic leadership internationally,” the Journal argued it would more likely “take resources from the private economy, fund political boondoggles, and mess with the business decisions of private companies.”
Sovereign wealth funds are normally operated by countries with surplus revenues but the U.S. “perennially runs budget deficits,” it added. The fund would “merely be one more way for the government to commandeer private wealth for political purposes. It will destroy more wealth than it creates,” it warned.
It’s the latest criticism that’s been leveled at Trump from the Rupert Murdoch-owned media outlet, which has beenthe president’s now-postponed hike in tariffs on Canada and Mexican imports — and which it described in a headline as “Rachel Maddow Breaks Down 2 Major Ways The Trump Admin’s ‘Stupidity’ Is BackfiringBy entering your email and clicking Sign Up, you're agreeing to let us send you customized marketing messages about us and our advertising partners.
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