#american-economy

#american-economy

The Trump administration's nostalgic desire to revive factory jobs reflects a fundamental misunderstanding of modern economic realities and the impossibility of returning to a golden past.

"It's hard to imagine American workers wanting to sit at a sewing machine and repetitively sew for $7.50, $8 an hour, and even that's going to drive up Nike's production costs such that a pair of Nikes will go through the roof," said Betsey Stevenson, a professor of public policy and economics at the University of Michigan.

Musk's current efforts against federal debt, while ambitious, are unlikely to significantly impact the $36 trillion deficit plaguing the country today.