The United States of America is at grievous risk of eclipse by China as the world's foremost economic, and ultimately, military power.
President Biden has a plan for that. The plan is clear, bold, wise, and is already being executed:
* End the pandemic's devastation of our economy, health, lives, and livelihoods, through the American Rescue Plan: shots in arms, money in pockets, kids in schools: done, delivered, working superbly.
* Restore American technologic leadership: 250 billion dollars (just passed by Senate); $52 billion in funds for our semiconductor industry, ending our abject dependence on China for components for autos, electronics, and even military weapons systems, and $190 billion for R&D, to cure our piteous laggard status in the world.
* Reinvigorate America's leading role among allies and confront Russia and China: President Biden is meeting with the G-7 at this moment, and will confront Putin in a few days. NATO is reassured of America's commitment, and Russia deterred from its worst aggressive ambitions. Provide vaccines to desperately needy nations to end their devastation, restore the world economy, sterilize the Petri dish of viral mutants, and re-create the soft power we engendered with CARE, Peace Corps, Marshall Plan, etc.
* Lead the world in infrastructure: both the hard, traditional infrastructure and the human capital that will be built with the American Jobs Plan and the American Family Plan. Seize the moment, electrify virtually everything, build the next generation of cars, trucks, trains, support the whole system with a robust, resilient grid, and protect it all with enhanced cybersecurity. Educate the young, support moms and dads (thus avoiding the baby-bust China is experiencing), assure college and technical/vocational education, And, oh: Buy American at every step.
Jobs, freakin' jobs.
Cost: high. Benefits many. Cost of losing to China, incalculable.