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The biggest global threat facing the U.S. is communist China. Fortunately, we have a weapon that Beijing lacks: economic freedom. If we tap into the spirit that’s made America the most innovative country in human history, China doesn’t stand a chance. Yet today many of our policy makers are undermining our advantage by moving toward central planning and socialist control.
An example of America’s dangerous slide is the Chips and Science Act, which directs $280 billion of taxpayer money to special interests. It’s supposedly necessary to help the computer-chip industry compete with Chinese competitors, which are subsidized by Beijing. Another is the Inflation Reduction Act, which spends more than $430 billion and throws money at companies that politicians claim are essential to America’s long-term success.
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