The Trump administration acknowledged this week its support for the creation of a U.S. sovereign wealth fund – perhaps funded with tariff revenues.

This is a rotten idea on all fronts. Politicians and unelected bureaucrats are going to play investment banker?

Really?

These are the same incompetents who just “invested” tens of billions in the California choo choo to nowhere, built tens of thousands on windmills that barely produce electricity, pushed billions of tax dollars into Solyndra, the synthetic fuels corporation, the bankrupt car company Fisker, the supercollider, and don’t forget the half-trillion dollars in the public schools only to see test scores plummet. We could go on for pages with embarrassing flop after flop.

But this ignores the most obvious problem of all: where’s the “wealth” for this sovereign  fund going to come from? Hello! The U.S. government is the most indebted institution in the world.  We’re not Saudi Arabia with pools of hundreds of billions of oil money lying around.

So what’s the plan here? Borrow trillions more?

Ingenious.