Authored by Ken Buck via The Epoch Times,
The rapid proliferation of artificial intelligence and supercomputing technologies has many Americans worried about the future of their careers. In a survey last month, more than half of U.S. workers expressed concern that AI could take their job or the job of a family member. Another survey in December found that almost 60 percent of young people believe AI poses a threat to their job prospects.
Americans are not naive. They realize that fast-evolving technologies will disrupt how we do business, just like the Industrial Revolution replaced blacksmiths and the horse and buggy. Many young people, particularly, are already pivoting toward “AI-proof” career fields that promise long-term stability.
However, while concerns about AI automation have dominated headlines and sucked the oxygen out of the room, a bigger, more immediate threat to Americans’ job prospects and wages continues to go virtually ignored: That is the crowding-out effect of the rising federal debt on private investment.
Our national debt is not a theoretical boogeyman. It’s a bona fide job-killer that is impeding economic growth and driving up costs on everyday families. And it will only get worse the longer it is ignored.
An analysis by Ernst & Young projects that on the 2025 debt path, which has accelerated in the current fiscal year, the United States will lose over 1 million jobs by 2035, 2.7 million by 2055, and 3.6
