Lots of high-paying jobs would immediately be eliminated. Millions of people driving gas cars would see prices go up a lot. Airline tickets, plastic products... the prices of everything would go up.

There would also be big national security concerns. It's hard to hold, for example, Saudi Arabia accountable for misdeeds when your economy depends on them.

For the record, I think the US should do this gradually. Some of the money could go toward welfare and unemployment benefits for people negatively impacted by job losses or price increases.