The most revealing measure of U.S. competitive power isn’t found in military operations against Iran or a looming $1.5 trillion defense budget. It’s in our private economy. SpaceX closed with a market cap larger than the gross domestic product of most nations on June 12, its first day of public trading. In the prior two weeks, Anthropic and OpenAI filed to go public, both chasing $1 trillion valuations.

In the wake of the financial crisis of 2008, Congress established the Consumer Financial Protection Bureau, the CFPB. It protects Americans from predatory practices by consumer finance companies. The CFPB enforces federal laws and investigates fraud and abuse. It has sent over 6.8 million complaints to companies for resolution so far. The bureau has been targeted for massive cuts by the new administration which, thus far, have been blocked by a federal judge.