Former Trump Commerce Secretary Wilbur Ross on CNBC problems painlessly."

the case if the product is going to come from elsewhere and those tariffs are not going to be great on consumers then how do you explain the Sovereign wealth fund that this Sovereign wealth fund that's going to exist with all the money that's coming in from the tariffs that's going to do everything from balance the budget to pay for child care for every American sure it doesn't make sense well the Sovereign wealth fund came from monies that were earned before that's where the capital and The Sovereign wealth came from what money in the case of the Gulf countries obviously mostly from oil right but from here in the United States when we propose the idea or when Donald Trump proposes the idea of a sovereign wealth fund that now the Democrats are looking at too I just don't understand where you get the funding from that we we don't have the same everybody ising National oil riches everybody's looking for a silver bullet that solves all the problems painlessly correct right that's that's hard and and it seems like I heard somebody say it this morning this is like the Oprah election it's how much can you give away you get a car and you get a car and you get a card from every politician who's running well the only silver bullets went away with the Lone Ranger in Tanto remember those cowboy and Indian shows so where would the S then where would the Sovereign wealth fund come from where would it come from then what they well it would have to be appropriated initially I would think because there's no other source no you could dedicate a revenue Source say if you put a big tariff you could say those tariffs will be applied directly to the Sovereign wealth fund not go for other per but it would come from us consumers would it not but you would need some sort of a source it just can't come from nowhere do you I suppose the Federal Reserve since it has the power to create money I guess it could create money that's all we need that's that's that's all we need so just back to