Intel

Cheers!

The federal government stepping into private enterprise has happened at several critical moments in American history, and every time it has been a sign of how serious the underlying crisis was. These were not routine matters. They were turning points where the very health and welfare of the nation were on the line.

One of the earliest large-scale interventions was the bailout of the city of New York in the nineteen seventies. The city was drowning in debt, and there was a very real fear of bankruptcy. Federal assistance, combined with state-level action, kept New York from financial collapse. That episode showed that when a major financial hub teeters, the nation feels the shockwaves, and Washington cannot simply stand by.

Moving forward, in the early two-thousands, the federal government again stepped in during the housing and mortgage collapse. The year two thousand eight saw the takeover of Fannie Mae and Freddie Mac, the massive mortgage guarantors. Without government support, the collapse of those institutions would have sent the entire housing market into free fall. At the same time, the banking system was unraveling. The Troubled Asset Relief Program, known as TARP, became the tool for stabilizing major banks, automakers, and even insurance companies. It was messy, controversial, and expensive, but the alternative would have been a national depression.

There have been other interventions as well. In the nineteen eighties, the government had to address the savings and loan crisis, which cost hundreds of billions of dollars. Chrysler is another example from the late nineteen seventies and early nineteen eighties. The federal government guaranteed loans to keep the company alive, and in doing so, saved tens of thousands of jobs and one of the nation’s cornerstone manufacturers. The reasoning then, as now, was clear: when the collapse of one company or one sector threatens the entire economic system, government action is not only warranted but essential.

The common thread through all of this is simple. The United States cannot allow key industries, major cities, or critical financial institutions to collapse unchecked. If they go down, the ripple effects drag down the entire economy. This is not about picking winners and losers in the marketplace. It is about protecting the country’s foundation and ensuring stability when the storm becomes too great for the private sector to weather alone.

That is why it matters so much today. The lesson from history is clear: federal intervention has been necessary at certain moments, and leaders who understand both the dangers and the opportunities are rare. Donald Trump has demonstrated that he understands these dynamics. He knows business, he knows the importance of industrial strength, and he knows that America must be on solid footing if it is to remain secure. At this moment in time, having leadership that can bridge government policy and business reality is not optional. It is essential for the health and survival of the nation.