Alexander Hamilton understood that debt is not necessarily a burden if it is matched by the means of extinguishment. The same principle should guide the American economy today. Debt can be managed when it finances productivity, expands the tax base and accelerates growth. It becomes dangerous when governments borrow merely to preserve stagnation.

That is the wager behind the economic
strategy of U.S. President Donald Trump’s
administration—run the economy hot enough
to grow out of the debt. The objective is not
simply short-term stimulus. It is to expand
energy production, rebuild manufacturing,
accelerate artificial-intelligence (AI) investment and bring industrial capacity back to the U.S.