So for that amount of money, you just killed the startup economy and killed all grand vision projects like SpaceX. Nothing gets off the ground.
Sounds very much like the socialist paradise I live in called Europe. Where the smartest most ambitious people leave for the US.
In not too many years, the light of human ingenuity will be extinguished. Elon is just in a race against time.
This is a problem statement not a solution. If the stat above is true, then there is obviously something very wrong with that system if they still can't out innovate us.
Modern semiconductor manufacture requires tech from the entire world. China is aiming to replicate pretty much all of it because of sanctions.
While the US and Europe are killing themselves with regulation and DEI, China has been rapidly developing every year and eventually the US is going to get a rude awakening.