From the Daily Caller News Foundation

By MARIANE ANGELA

Voters in Cameron County, Texas, overwhelmingly approved Saturday a measure to incorporate Elon Musk’s rocket complex near Brownsville as a new municipality called Starbase.

Unofficial results posted Saturday night showed 98% of the 177 ballots cast supported the creation of the town, which includes SpaceX facilities and housing tied to the company, according to The Wall Street Journal. Only residents living within the proposed town’s boundaries were eligible to vote, most of whom work for or are affiliated with SpaceX.

Once county commissioners certify the election, Starbase will begin operating as an official municipality under Texas law, which marks the launch of a rare company-run town where most residents are tied to SpaceX. The new town will oversee zoning, budgeting, and staffing while adhering to state transparency rules such as open meetings and public records requirements.

SpaceX has said little publicly about its plans, but company officials previously suggested the town could help streamline operations and support workforce growth. SpaceX vice president Bobby Peden was elected mayor of the new town and legal experts noted that state law includes conflict-of-interest rules for public officials employed by private firms operating within the municipality.

Local officials have expressed support for the company due to the thousands of jobs and tourism revenue generated by Starbase since SpaceX employs roughly 3,400 workers and contractors at Starbase. However, some residents and environmental groups remain concerned about increased rocket activity, limited beach access, and the town’s close ties to the company that created it.

The Starbase site has become central to Musk’s vision of human spaceflight, particularly SpaceX’s development of Starship, a nearly 400-foot rocket designed for missions to the moon and Mars. Though early test flights have ended in explosions, recent missions have demonstrated partial recovery capabilities and Musk described the area as a “Gateway to Mars.”

Musk will not hold a formal political role in Starbase, but the town is his brainchild, and since announcing the idea in 2021, he has urged employees to move there and expanded his personal and corporate presence in Texas. He relocated his primary residence and key businesses to the state and now lives in a $35 million compound in Austin.

 David Clinton

Remember when thinking about our debt crisis was just scary?

During his recent election campaign, Mark Carney announced plans to add $225 billion (with a “b”) to federal debt over the next four years. That, to put it mildly, is a consequential number. I thought it would be useful to put it into context, both in terms of our existing debt, and of some social and political changes those plans could spark.

How much money does Canada currently owe? According to Statistics Canada’s statement of government operations and balance sheet, as of Q4 2024, that number would be nearly $954 billion. That’s compared with the $621 billion we owed back in 2015.

How much does interest on our current debt cost us each year? The official Budget 2024 document predicted that we’d pay around $51 billion each year to just service our debt. But that’s before piling on the new $225 billion.

We – and the governments we elect – might be tempted to imagine that the cash behind public loans just magically appears out of thin air. In fact, most Canadian government debt is financed through debt securities such as marketable bonds, treasury bills, and foreign currency debt instruments. And those bonds and bills are owned by buyers.

Who are those buyers? Many of them are probably Canadian banks and other financial institutions. But as of February 2025, according to Statistics Canada, it was international portfolio investors who owned $527 billion of Canadian federal government debt securities.

Most of those foreign investors are probably from (relatively) friendly countries like the U.S. and U.K. But that’s certainly not the whole story. Although I couldn’t find direct data breaking down the details, there are some broadly related investment income numbers that might be helpful.

Specifically, all foreign investments into both public and private entities in Canada in 2024 amounted to $219 billion dollars. In that same year, investments from “all other countries” totaled $51 billion. What Statistics Canada means by “all other countries” covers all countries besides the US, UK, EU, Japan, and the 38 OECD nations.

The elephant in the “all other countries” room has to be China.

So let’s break this down. The $527 billion foreign-owned investment debt I mentioned earlier represents around 55 percent of our total debt.¹ And if the “all other countries” ratio in general foreign investments holds true² for federal public debt, then it’s realistic to assume that the federal government currently owes around 11 percent of its debt to government and business entities associated with the Chinese Communist Party.

By all accounts, an 11 percent share in a government’s debt counts as leverage. Given China’s recent history, our ability to act independently in international and even domestic affairs could be compromised. But it could also be destabilizing, exposing us to risk if China’s economy faces turmoil which could disrupt our ability to roll over debt or secure new financing.

Mark Carney’s plan to add another 20 percent to our debt over the next four years will only increase our exposure to these – and many more – risks. Canadian voters have made an interesting choice.

“Democracy is the theory that the common people know what they want, and deserve to get it good and hard.” – H.L. Mencken