Fixing Y38 will require some public spending. If "researching cancer" is not considered worthy of public spending any more, I'm curious about how the nerds will manage to justify replacing lots of embedded chips "because maths".

If it takes the usual 8 years to replace the current administration with one that accepts listening to experts, and unless big donors can make a profit by organizing the transition, we can expect serious efforts to only start around 2032 globally. No idea if that will be enough this time, we'll see...

(On the bright side, maybe they can charge customers ? That would work.)

13 years is plenty of time to make a start on all of this, and will allow the costs to be spread over that time period without undue hurry. It's also long enough that it will be possible for much software to be allowed to reach end-of-life without being audited, while applying rigorous testing to new software. Procrastination, though, is not a good option.