Category: Government

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Government Macro Economics Uncategorized

The GENIUS Act – A Strategic Leap Toward Stablecoin Hegemony for the U.S. Dollar

The Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025, commonly known as the GENIUS Act, represents a pivotal moment in the evolution of American financial policy. As the U.S. Senate prepares to vote on this legislation, the act’s potential to reshape the global financial landscape by reinforcing the dominance of the U.S. dollar through stablecoin innovation cannot be overstated. Chamath Palihapitiya, a prominent venture capitalist and influential voice in technology and finance, has championed the bill, stating on May 8, 2025, “This bill is smart and needs to pass when up for vote today. It’s the most obvious way of shifting past petrodollar hegemony for the USD and replacing it with stablecoin hegemony for the USD.” His endorsement underscores the act’s transformative promise, and a closer examination of its merits reveals why it deserves bipartisan support.

The GENIUS Act establishes a comprehensive regulatory framework for payment stablecoins—digital assets pegged to a fixed monetary value, typically the U.S. dollar—designed to ensure financial stability, transparency, and consumer protection. By defining clear rules for issuers, the legislation addresses long-standing regulatory ambiguity that has hindered the stablecoin market’s growth in the United States. The act permits entities, whether associated with insured banks or operating independently, to issue stablecoins under either federal or state oversight, depending on their market capitalization. Issuers with over $10 billion in stablecoins face joint state-federal regulation or state-administered federal standards, while smaller issuers may opt for state-specific regimes that mirror federal requirements. This dual framework balances innovation with oversight, fostering a competitive yet secure market.

One of the act’s most compelling merits is its potential to reinforce the global dominance of the U.S. dollar. Stablecoins, by design, are often backed by dollar-denominated assets such as U.S. Treasury securities, creating significant demand for these instruments. Standard Chartered estimates that the GENIUS Act could drive the total stablecoin supply from $230 billion today to $2 trillion by the end of 2028, absorbing substantial U.S. Treasury bill issuance during this period. This surge in demand not only strengthens the dollar’s role as the world’s reserve currency but also aligns with Palihapitiya’s vision of transitioning from petrodollar hegemony—where the dollar’s dominance is tied to oil trade—to stablecoin hegemony, where digital currencies amplify its reach in global transactions. By providing a clear legal pathway for stablecoin issuance, the GENIUS Act positions the United States to lead this shift, ensuring that dollar-backed stablecoins like USDC and USDT remain preeminent in the global market.

Moreover, the act enhances transparency and consumer trust, addressing concerns that have plagued the crypto industry. It imposes bank-like regulations on issuers, including capital, liquidity, and risk management standards, and categorizes them as financial institutions under the Bank Secrecy Act for anti-money laundering purposes. These measures ensure that stablecoin reserves are fully backed by compliant assets, mitigating risks of price manipulation or coin failures. For established issuers like Circle, compliance with these standards could boost institutional adoption, while non-compliant players, such as Tether, may need to restructure to compete in the U.S. market. This leveled playing field fosters a more resilient stablecoin ecosystem, benefiting consumers and investors alike.

The bipartisan support for the GENIUS Act, evidenced by its 18-6 passage through the Senate Banking Committee on March 13, 2025, reflects its broad appeal. Industry leaders, such as Circle’s Chief Strategy Officer Dante Disparte, have praised the bill as “historic and bipartisan progress” toward an “America-first framework” for stablecoin regulation. Even as critics, including Senator Elizabeth Warren, raise concerns about potential risks and corruption—particularly in light of recent stablecoin ventures tied to political figures—the act’s robust regulatory safeguards address many of these issues. For instance, its focus on compliance and oversight aims to curb illicit finance, while amendments could further strengthen protections against conflicts of interest.

Critics like Vance Spencer of Framework Ventures argue that overly restrictive regulations could push stablecoin innovation offshore, potentially weakening dollar hegemony. However, the GENIUS Act’s pragmatic approach, blending federal standards with state flexibility, mitigates this risk by encouraging domestic innovation while maintaining global competitiveness. The bill’s emphasis on international cooperation and a Treasury study on stablecoin reserves further ensures that the U.S. remains a leader in shaping global standards.

In conclusion, the GENIUS Act is a forward-thinking piece of legislation that aligns with the United States’ strategic interests in maintaining financial leadership. By establishing a clear, balanced framework for stablecoin regulation, it paves the way for the dollar to dominate the digital economy, as Palihapitiya envisions, through “stablecoin hegemony for the USD.” The act’s ability to foster innovation, enhance transparency, and bolster the dollar’s global role makes it a critical step toward a modernized financial system. As the Senate votes today, lawmakers have an opportunity to enact a policy that not only addresses immediate regulatory needs but also secures America’s economic dominance for decades to come. The GENIUS Act is, indeed, a stroke of genius, and its passage should be a priority.

The Benefits of Stablecoins

Stablecoins are digital currencies designed to maintain a stable value, typically pegged to a fiat currency like the U.S. dollar or other assets such as gold. Their unique characteristics offer significant benefits across financial systems, economies, and individual users. Below is a detailed explanation of the key advantages of stablecoins.

  1. Price Stability

Stablecoins mitigate the volatility commonly associated with cryptocurrencies like Bitcoin or Ethereum. By pegging their value to stable assets—such as the U.S. dollar, U.S. Treasury securities, or other low-risk instruments—stablecoins maintain consistent purchasing power. This stability makes them suitable for everyday transactions, savings, and financial planning, unlike volatile cryptocurrencies that can fluctuate dramatically in value. For example, a stablecoin like USDC ensures that 1 USDC remains equivalent to approximately 1 USD, providing predictability for users and businesses.

  1. Efficiency in Transactions

Stablecoins enable fast, low-cost transactions on blockchain networks, bypassing traditional financial intermediaries like banks or payment processors. This efficiency is particularly valuable for cross-border payments, which are often slow and expensive due to correspondent banking networks and currency conversion fees. Stablecoins can settle transactions in minutes, if not seconds, with minimal fees, making them an attractive alternative for remittances, international trade, and peer-to-peer transfers. For instance, a freelancer in Asia can receive payment in USDC from a U.S. client instantly, avoiding delays and high wire transfer costs.

  1. Global Accessibility and Financial Inclusion

Stablecoins operate on decentralized blockchain networks, accessible to anyone with an internet connection and a digital wallet. This democratizes access to financial services, particularly for unbanked or underbanked populations who lack access to traditional banking infrastructure. Stablecoins allow individuals in developing economies to store value in a dollar-pegged asset, hedge against local currency depreciation, and participate in global markets. For example, in countries with hyperinflation, such as Venezuela or Zimbabwe, stablecoins provide a stable store of value and a medium of exchange, empowering individuals to preserve their wealth.

  1. Strengthening the U.S. Dollar’s Global Dominance

Dollar-pegged stablecoins, such as USDC or USDT, reinforce the U.S. dollar’s role as the world’s reserve currency. These stablecoins are often backed by dollar-denominated assets, such as cash or U.S. Treasury securities, creating significant demand for these instruments. As stablecoin adoption grows, this demand can absorb U.S. debt issuance, lower borrowing costs, and extend the dollar’s influence in global trade and digital economies. The GENIUS Act, for instance, is projected to drive stablecoin supply to $2 trillion by 2028, amplifying the dollar’s reach through what has been termed “stablecoin hegemony.”

  1. Transparency and Programmability

Stablecoins leverage blockchain technology, which provides transparent, immutable transaction records. Many stablecoin issuers, such as Circle (USDC), publish regular attestations of their reserve assets, ensuring that each coin is fully backed by equivalent value. This transparency builds trust among users and regulators. Additionally, stablecoins are programmable, enabling integration into smart contracts and decentralized finance (DeFi) applications. This programmability supports innovative use cases, such as automated payments, decentralized lending, and tokenized asset trading, enhancing efficiency in financial ecosystems.

  1. Interoperability with Digital Economies

Stablecoins serve as a bridge between traditional finance and emerging digital economies, including DeFi, non-fungible tokens (NFTs), and the metaverse. They provide a stable medium of exchange for digital transactions, enabling seamless interactions across platforms. For example, a user can purchase an NFT or invest in a DeFi protocol using USDC without worrying about cryptocurrency price swings. This interoperability fosters innovation and drives adoption of blockchain-based technologies.

  1. Reduced Counterparty Risk

Unlike traditional financial systems, where transactions rely on intermediaries like banks or clearinghouses, stablecoin transactions occur directly on blockchains, reducing counterparty risk. Once a transaction is confirmed, it is final and irreversible, minimizing the risk of default or fraud by third parties. This feature is particularly valuable for high-value transactions or in regions with unstable financial institutions.

  1. Support for Monetary Policy and Economic Stability

By increasing demand for U.S. Treasury securities and other dollar-based assets, stablecoins can indirectly support U.S. monetary policy. As stablecoin issuers hold reserves in these assets, they contribute to market stability and liquidity. Furthermore, stablecoins can serve as a tool for central banks exploring digital currencies. For instance, research into central bank digital currencies (CBDCs) often draws on stablecoin models, highlighting their potential to modernize monetary systems.

Considerations and Challenges

While stablecoins offer numerous benefits, they are not without risks. Regulatory uncertainty, potential reserve mismanagement, and concerns about illicit use require robust oversight, as proposed by frameworks like the GENIUS Act. Ensuring that stablecoins are fully backed by high-quality assets and comply with anti-money laundering standards is critical to maintaining trust and stability.

Conclusion

Stablecoins represent a transformative innovation in the financial landscape, offering price stability, transactional efficiency, global accessibility, and support for the U.S. dollar’s global dominance. Their ability to foster financial inclusion, enhance transparency, and integrate with digital economies positions them as a cornerstone of modern finance. By addressing regulatory challenges, as the GENIUS Act aims to do, stablecoins can unlock their full potential, benefiting individuals, businesses, and economies worldwide while reinforcing the U.S. dollar’s enduring influence.

 

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Energy Government

Deep Dive: Why MNRs Might Save America’s Economy (If We Don’t Screw It Up)

By 2030, U.S. electricity demand from AI and data centers is projected to more than double—yet our power grid is already struggling. Let’s be honest: America’s energy infrastructure is on the brink under the weight of its own ambition. AI. Data centers. Electrification of everything. It’s a digital arms race—and the grid? It’s running Windows 95.

Enter the three-letter acronym that’s got Silicon Valley, Capitol Hill, and a few hedge fund bros buzzing: MNR—Modular Nuclear Reactors. They’re small, they’re modular, and they might just be the most important economic tool America has in the next 25 years. That is, if we don’t let red tape and political gridlock bury them.

The Case for MNRs: Why This Isn’t Just Another “Green Tech” Fad

Big Tech gets it. Amazon just dropped half a billion on MNRs—Modular Nuclear Reactors, compact next-gen power sources that are scalable, clean, and designed to meet massive energy demands. Microsoft and Google aren’t far behind. Why? Because the AI arms race is sucking up insane amounts of power—power that solar and wind alone can’t deliver, especially when the sun sets or the wind dies. Data centers need clean, stable, 24/7 juice. MNRs provide just that.

But this isn’t just about tech giants hedging their climate bets. It’s about economic survival. If America doesn’t solve its energy crunch, we won’t just lose AI leadership—we’ll lose manufacturing, semiconductors, national security. Everything.

Timing is Everything—and That’s the Problem

Here’s the rub: these reactors won’t come online until the early to mid-2030s. Amazon is aiming for 5 gigawatts by 2039. That’s great—but that’s a decade away. Can we wait that long?

Short answer: no. The U.S. needs stopgaps—renewables, natural gas, even old-school nukes—to bridge the gap. And here’s the common-sense part politicians keep ignoring: stop shutting down reliable sources of electricity until the replacements are actually up and running. Natural gas will have to carry a lot of the load in the meantime. It’s clean enough, scalable, and reliable. If we kill off baseload power before we’ve built the next-gen grid, we’re not going green—we’re going dark.

Policy vs. Politics: Washington, Don’t Blow This

MNRs are stuck in bureaucratic purgatory. Licensing is a nightmare. The tech is real—but the regulators are still living in a Three Mile Island mindset. Meanwhile, China’s already racing ahead with next-gen reactors.

This should be bipartisan. Red states love energy independence. Blue states love clean tech. Yet here we are, watching the DOE throw money at pilot projects while local permitting boards fight over who gets the parking lot.

And yes, there are critics. The Stanford crowd says MNRs produce more waste. The NRDC screams “unproven!” But here’s the thing: doing nothing is far riskier. Without MNRs, we’re talking rolling blackouts, GDP hits, and letting China eat our lunch.

Energy Abundance = Economic Dominance

This isn’t just an energy story. It’s an economic strategy. As BlackRock CEO Larry Fink recently noted, “Nations that can secure clean, reliable energy at scale will win the 21st century.”

– Want to re-shore advanced manufacturing? You’ll need MNRs.
– Want AI to be America’s moonshot moment? Power it with MNRs.
– Want real energy independence? You can’t get there without nuclear.

This is industrial policy 2.0. Not with subsidies and central planning, but by creating an abundant, clean, stable energy base that the private sector can scale. MNRs are the new foundation for American dynamism.

The Bridge to the Future: Renewables + Nuclear + Natural Gas

Look, MNRs aren’t silver bullets. But they are the missing link in a realistic clean energy transition.

You need solar and wind? Absolutely. But they’re intermittent. You need battery storage? Great—if it ever scales affordably. In the meantime, natural gas remains critical. It keeps the lights on, stabilizes the grid, and buys us the time we need to build out the future.

And again—don’t tear down what works until what’s next actually works. That’s not politics. That’s physics.

Final Thought: This is America’s Sputnik Moment

If we get this right, MNRs become the bedrock of the next American century—clean power, economic strength, global leadership.

If we blow it?

We’ll be importing Chinese AI chips, powering them with Chinese rare earths, while fighting rolling brownouts and watching our GDP flatline.

Let’s not let that happen. Let’s build—just like we did with the Apollo program. When America leads, the world follows. This is our energy moonshot moment, and it’s time to rise to it.

Categories
Government Macro Economics

Stakeholder Capitalism Fails Because It Forgets the Power of Free Markets

There’s a quiet revolution stirring—and it’s not coming from activist boardrooms or ESG committees. It’s coming from markets, investors, and everyday shareholders who are finally demanding a return to clarity, accountability, and growth. After years of drifting into the foggy waters of stakeholder capitalism, the world is beginning to remember an eternal economic truth: profits aren’t the problem. They are the solution.

Let’s call it what it is—stakeholder capitalism, buoyed by ESG orthodoxy, has been a costly detour from prosperity. It emerged in part as a public relations response to the 2008 financial crisis, when taxpayers were forced to bail out major banks that had caused the meltdown. Instead of reform or accountability, elites offered lip service through stakeholder rhetoric—an attempt to appease a disillusioned public without changing the power structure. A feel-good fantasy sold by billionaires and bureaucrats, it promised everything to everyone: higher wages, greener companies, more inclusive boardrooms, happier communities, and sustained growth. What did it deliver? Lagging returns, bloated corporate bureaucracies, and a widening wealth gap that favored the elite over the everyday investor.

This wasn’t capitalism with a conscience—it was capitalism with a fog machine. ESG scores were treated like moral compasses, yet they often disagreed wildly. One firm’s “climate champion” was another’s “carbon criminal.” It was chaos masquerading as clarity. And behind the curtain? Well-compensated executives pocketing bonuses while stockholders nursed 2% dividends and watched their shares underperform.

Milton Friedman, whose legacy still lights the path forward, warned us. The business of business is business. That doesn’t mean ignoring ethics—it means honoring the social contract of capitalism: deliver value, create growth, and let profits be the yardstick. In doing so, firms create jobs, raise wages, and fund innovation. Everyone wins. That’s the beauty of the free enterprise system.

Meanwhile, ESG funds lagged the broader market, Europe’s stakeholder economies stalled, and in the United States, despite all the lofty pledges, shareholder value took a back seat. BlackRock’s assets ballooned to $10 trillion by 2024, according to company filings and Bloomberg data on the back of the ESG craze, while small investors got left behind. It was regulatory arbitrage dressed up as virtue. And it didn’t deliver results.

But here’s the good news—the pendulum is swinging back. In Q1 of 2025 alone, ESG funds saw $2 billion in outflows. Proxy battles are erupting in boardrooms from coast to coast. The message is clear: investors want profits, not platitudes. They want growth, not guilt. They want companies to compete, not to cosplay as mini-governments.

It’s time to revive what works. Capitalism, unshackled by political fashion, produces the very outcomes stakeholder theorists claim to want: just look at the U.S. tech sector, where profit-driven innovation has led to groundbreaking products, job creation, and rising wages: rising living standards, better products, dynamic economies. But it does so through discipline, innovation, and clear incentives—not through committee meetings and carbon accounting.

The world doesn’t need corporations to be social engineers. It needs them to be productive, profitable, and competitive. That’s how we build wealth for everyone—from retirees to workers, from entrepreneurs to consumers. That’s how we restore the American Dream.

Milton Friedman had it right. And today, as markets reject ESG excess and refocus on fundamentals, the future looks bright again. The fallacy of stakeholder capitalism is fading, and the free market—powered by profits, liberty, and opportunity—is rising once more.

Let’s embrace it.

Categories
Government Macro Economics

Recession? Not So Fast. The Data Say Otherwise

Ever since President Donald Trump’s landslide re-election in November 2024, the media-industrial complex and its political allies have been screaming one word louder than ever: recession. Cable news pundits, legacy newspapers, and a veritable army of social media doom-posters are ringing the alarm bells. “The Trump economy is on the brink,” they tell us. “Brace for impact.”

But here at Optimum Broadband, we believe in logic, not hysteria. Facts, not feelings. And the facts? They tell a very different story.

The Kudlow Rule: Growth Is Growth

Let’s start with the basics. As of Q1 2025, U.S. GDP is growing at an annualized rate of 2 to 2.5%, according to preliminary numbers from the Bureau of Economic Analysis. That’s not booming—but it’s steady, sustainable growth.

Unemployment sits at 4.1%—a hair above last year, but still near multi-decade lows. Consumer spending remains strong, particularly in services, retail, and travel. And core inflation? Tamed, hovering around 3%.

The Federal Reserve, wisely holding rates steady at 4.5–4.75%, seems to agree: the economy is on solid footing.

That’s not a recession. That’s a durable, dynamic economy adjusting to global turbulence—and emerging stronger.

Manufactured Panic: TDS in the Markets

So why the panic? Why are networks like CNN and The New York Times flooding the zone with stories about “economic peril”? Why are progressive influencers lighting up X (formerly Twitter) with end-is-nigh memes?

Because they’re suffering from an old affliction: Trump Derangement Syndrome (TDS)—the irrational need to paint any success under Trump as failure.

It’s the same playbook they used during his first term. When Trump cut taxes, they predicted deficits would destroy us. When he deregulated energy, they screamed climate Armageddon. When he renegotiated trade deals, they cried “trade war.” And when wages rose, unemployment fell, and the stock market hit record highs—they called it a fluke.

Now, in 2025, they’re back at it—ignoring the fundamentals in favor of a narrative.

There Are Risks—But They’re Manageable

To be fair, this isn’t a perfect economy. There are risks. Business investment has pulled back slightly, especially in manufacturing and logistics, as companies digest Trump’s updated tariff policies on China.

Housing starts have cooled, thanks to high mortgage rates. And some stress remains in the regional banking sector—echoes of 2023’s Silicon Valley Bank mess—but federal regulators are watching it closely and responding with targeted reforms, not sweeping overreach.

And yes, the S&P 500 is down about 5% from its January peak. But even that’s a correction, not a collapse. Stocks rise and fall—it’s the long-term trend that matters. And long-term, America under pro-growth leadership remains the best investment on the planet.

A Tale of Two Narratives

One of the more underreported stories of the last decade is the degree to which partisan perception drives economic sentiment. A landmark 2024 study by the American Political Science Association confirmed what many of us suspected: Democrats routinely rate the economy worse under Republican presidents—even when the actual data is strong.

So when the media blares “Recession!” 24/7, it’s less about the economy and more about the narrative. It’s emotional politics masquerading as economics.

At Optimum Broadband, we’re not interested in spin. We look at industrial production, consumer confidence, the yield curve, energy output, and labor participation. Those are the vital signs of a real economy. And they aren’t flashing red—they’re mostly green.

Trump’s Tariffs: Strategic, Targeted, and Pro-Growth

Let’s take a moment to clear the air about Trump’s latest round of tariffs. The usual suspects in the media and academia are once again crying “trade war” and predicting economic ruin. But here’s the truth: Trump’s tariffs aren’t about isolationism—they’re about leverage.

The president’s new “America First 2.0” trade strategy is a continuation of what he started in his first term: holding foreign competitors accountable, particularly China, for decades of cheating, IP theft, currency manipulation, and mercantilist abuse.

These tariffs are not blanket taxes on all imports—they’re surgical tools aimed at strategic sectors: semiconductors, EV batteries, solar panels, and critical rare-earth minerals where the U.S. must secure its supply chains. This is economic security, not protectionism.

Critics say tariffs raise prices. That’s textbook theory, not real-world economics. What they miss is that tariffs can shift global supply chains in our favor, bring manufacturing jobs back home, and reduce dependence on hostile nations. We’re already seeing companies diversify production away from China and invest in the U.S., Mexico, and trusted allies. That’s a win.

Even the Congressional Budget Office, hardly a cheerleader for the Trump agenda, admits the tariffs could result in a net GDP boost if implemented alongside tax and regulatory reforms. That’s exactly what’s happening now.

In classic economics : incentives matter. Tariffs, when paired with the right domestic policy mix, incentivize American production, innovation, and job creation. They send a signal to the world: if you want access to the U.S. market, play by our rules.

That’s not anti-trade. That’s pro-fair trade—and it’s long overdue.

America’s Economic Engine Is Still Running

Trump’s economic blueprint—lower taxes, fewer regulations, energy independence, and fair trade—is once again creating the conditions for growth.

Yes, there’s uncertainty in global markets. Yes, China remains a threat. But under strong leadership, America is doing what it always does: adapting, innovating, producing.

In the words of Larry Kudlow, “Free market capitalism is the best path to prosperity.” And in 2025, that path is still open—despite the noise from the peanut gallery.

Final Thought: Turn Down the Volume, Tune into the Data

If you’re feeling anxious about the economy, we get it. The headlines are loud. The social feeds are louder. But here’s our advice:

Don’t follow the fear. Follow the fundamentals.

There’s no recession today. And with the right policies in place—ones that unleash growth rather than stifle it—there won’t be one tomorrow either.

Keep your eye on the numbers. Ignore the clickbait. And remember: the American economy doesn’t run on panic—it runs on productivity.

Categories
Government

From Bureaucratic Quagmire to Trump 2.0: Slaying the Leviathan in Medicaid and Broadband

The federal government’s track record with grand initiatives offers a tale of two extremes—Medicaid’s swift and efficient rollout in the 1960s versus the bureaucratic gridlock of today’s rural broadband program. Medicaid transformed from legislation to reality in under five years. By contrast, the Build Back Better broadband push—three years old as of March 2025—is still stuck in a labyrinth of 14 cumbersome steps. The Biden-era leviathan is bloated and sluggish. But with Trump 2.0 on the horizon and a bold reform tool—DOGE, the Department of Government Efficiency—we have a blueprint to cut through red tape, revitalize Medicaid, and finally deliver rural broadband.

Back in 1965, under President Lyndon Johnson, Medicaid launched with remarkable speed. By January 1, 1966, states were enrolling, and by 1970, all but Arizona had live programs. This was pre-digital—no computers, just paper, fax machines, and grit. Most states implemented Medicaid in two to three years. In stark contrast, Build Back Better’s broadband initiative, launched in 2021, has produced little more than frustration. Just three of 56 jurisdictions have made it through the entire 14-step approval process. Planning grants, five-year strategies, and endless disputes over FCC maps have paralyzed progress. Medicaid trusted states to deliver. Broadband smothers them with oversight.

The results speak volumes: as of March 2025, despite more than three years of federal engagement, virtually no broadband infrastructure has been built through this program. The application process is so convoluted and opaque that many potential applicants—both states and private sector providers—have simply walked away. Faced with a mountain of paperwork, multiple map challenges, and years-long timelines, they’ve decided it’s not worth the time, cost, or uncertainty. The process has defeated the very people it was meant to help.

Even progressive commentators like Jon Stewart and Ezra Klein are exasperated. On a recent podcast, Klein read through the broadband process step-by-step, and the scene quickly descended into a comedic display of disbelief. Klein began with Step 1—the issuance of a funding opportunity notice—and proceeded through an exhausting maze: letters of intent, $5 million planning grant requests, NTIA reviews and approvals, five-year action plans, FCC maps, state-level challenges to those maps, multiple rounds of proposals, subgranting, and final approvals. Stewart, increasingly aghast, interrupted: “But then what was the five-year plan and what the [expletive] did they apply for?” By Step 12, he exploded— “Oh, my [expletive] God. At step 12. After all this has been done!?”—before falling into stunned silence. Their exchange underscored a rare bipartisan truth: the current process is so tangled, so dysfunctional, even the most ideologically sympathetic observers can’t defend it.

How did we get here? We’ve spent decades building up the Leviathan state complex, unaccountable web of federal agencies, regulations, and review panels that now chokes everything it touches. What once may have been intended as oversight has metastasized into paralysis. Each new mandate or program layer adds more friction, fewer results. The bureaucratic state no longer serves the citizen—it serves itself. Programs stall not for lack of funding or will, but because the system is structurally designed to delay, defer, and deflect.

The problem isn’t limited to broadband. The CHIPS Act, intended to rebuild America’s semiconductor manufacturing capacity, is already buckling under the weight of its own liberal wish list. Instead of fast-tracking critical chip production, it’s bogged down by mandates on childcare provisions, climate compliance reporting, diversity benchmarks, and labor guarantees. These add-ons, though politically fashionable, have all but guaranteed the Act’s failure to deliver on its core mission. While foreign competitors move swiftly and decisively, America’s own industrial policy is stalled by its obsession with ideological box-checking.

Enter Trump 2.0—armed with lessons from his first term and ready to wield DOGE. In round one, Trump streamlined Medicaid by waiving work requirements, accelerating reimbursements, and piloting block grants—all while maintaining coverage for over 70 million Americans. With DOGE in hand, a second Trump term could go further: AI-driven eligibility systems that cut approval times from weeks to days, blockchain-backed fraud detection that saves billions, and a new ethos of state-level flexibility. DOGE would be a scalpel to cut federal bloat and bring Medicaid into the 21st century.

Broadband, too, is ripe for disruption. Trump 2.0 could scrap the 14-step farce that Stewart and Klein derided and implement a simple, three-step process: states request funding, the feds approve it, and providers build. That’s it. Trump’s first term prioritized market-driven innovation, like leveraging SpaceX’s Starlink. A second term could double down—bypassing the NTIA’s bureaucratic morass and fast-tracking fiber and satellite deployment. Results, not process.

The Medicaid model worked because it moved quickly and gave states breathing room. The broadband model is failing because it chokes progress with bureaucracy. Trump 2.0 and DOGE offer a way forward: smarter government, less waste, and faster outcomes. LBJ showed government can work. Trump showed it can move. Now, with the right tools, it can do both—fast.

Imagine rural kids on Zoom, seniors accessing telehealth with ease, and Medicaid responding in days instead of months. That’s the vision. That’s the promise of Trump 2.0 and DOGE: not just to streamline, but to liberate the American people from the grip of the modern administrative state.