I don’t agree with much of the current approach, etc. But I do like we are finally at least thinking about it..
Thinking is all I ask, before taking nuclear option.
Take Chinese government vs us. 10 years ago they said Solar, Green energy and storage was going be key. Fast forward to now and they dominate the world in all of that. The industry was given a clear goal, likely heavily incentivized by the government, and they accomplished it in spades. They went fully integrated from dirt (minerals) to fully finished cars. On that front, they did the impossible: getting phone companies to build cars!
I like us to think and figure out what we should dominate this way. Seems to me, semiconductors are it. Our appetite for it is only growing. And growing exponentially. It is far easier to dominate in that and take the lead from Taiwan's TSMC than it is to have garment factories here again. The chip act was noise by the way and nothing like what China did above.
Alas, we have a government led by people who don't know silicon from silicone. So they continue the playbook of 1970s of "bring back jobs." We chase out people picking strawberries in heat of summer and humidity in Florida, thinking some American would want that job. Even if they did, the cost of strawberries would then be $20 per pound.
The government has always been dumb with politicians more interested in power than doing good. But they didn't take drastic action so damage that they could cause was very limited. And at any rate, every 4 years we had a chance at a new government. That all changed in January of this year. In just a few months, incredible amount of change is made with constant variability. By the time 4 years is up, we will not recognize where we will be if this trend continues.
Some good may come out of it by accident. But we best not rule by accident.