I used to agree with this (at least the headline), but then I lived through the Biden administration. Fundamentally Americans want to consume more services and

I used to agree with this (at least the headline), but then I lived through the Biden administration. Fundamentally Americans want to consume more services and especially goods than the people living in America produce. The only ways to square that circle are 1. To get more people. But by 2024 prime age labor force participation was at essentially record numbers[0] so there aren't more people available domestically, and we saw in the election that swing voters are not fans of mass unskilled immigration. 2. To produce more with the same people (i.e. increase productivity). But in most cases this is up to technological advancement and not in the hands of policymakers. There are probably some sectors that could benefit from deregulation (e.g. construction) but those regulations have their own constituencies that don't want to see them go. 3. To force people to consume less (i.e. inflation). Voters hate this. 4. To import more from abroad. In the end "offshoring" is the only politically viable option. [0] https://fred.stlouisfed.org/series/LNS11300060 https://fred.stlouisfed.org/series/LNS11300060