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from Zenger sand the Votemaster at electoral-vote.com:
...when you apply for that mortgage, the bank also asks about additional assets you own, like jewelry or stocks or a vacation house. Well, the federal government has assets, too. It obviously owns all the government buildings, and all the military equipment, and lots of roads and highways and bridges, and so forth. It's also far and away the largest landholder in the country; if the government could just sell the land it owns in California at market rates, that alone would raise enough to pay the entire debt off. That obviously can't happen, since flooding the market with supply would drive costs way down, but it's a useful way of illustrating that the federal government has assets well beyond just its annual income. In fact, its assets have a total value of about $270 trillion, or close to 10 times the national debt.
https://electoral-vote.com//
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Well, OK then. How silly of me to worry about our national debt spiraling out of control.
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Why do you think it's "spiraling out of control" only when the president is a Democrat?
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; if the government could just sell the land it owns in California at market rates, that alone would raise enough to pay the entire debt off.
Plus we have Marines. We could seize the Baja, enslave the inhabitants, need workers for the farms in California, divide up the 1000 miles of coast into 50 foot wide beach front lots, this should yield 1,000,000 lots worth 1,000,000 a piece. or a cool trillion by itself. Then lease the tip to Elon Musk for a decent spaceport.
See? No priblem!
Plus if we legalized weed we could be the largest drug exporter on the planet, and hey no more wars! Just really big frisbee contests. Moreover, anybody puts a toe out of line, No Cheetos for you!
Cheers
Qazulight
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We could seize the Baja, enslave the inhabitants, need workers for the farms in California, divide up the 1000 miles of coast into 50 foot wide beach front lots, this should yield 1,000,000 lots worth 1,000,000 a piece. or a cool trillion by itself.
Your off by a factor of 10: you'd only get 100000 plots to sell. Still, 100 billion is nothing to sneeze at.
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Crap: should have been "You're off by a factor of 10..."
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Plus, unlike the mortgage, the federal debt literally never needs to be paid off.
The difference is that a mortgage goes to an individual who has a finite life. The federal government is perpetual, so they can “refinance” forever.
So as long as interest payments are within historic norms (which they are) the debt just isn’t a major issue.
Not to mention that the people who cry the most about it refuse to accept a tax increase to make the debt go down.
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Maybe it is time to re-float the $1 Trillion coin idea again.
https://en.wikipedia.org/wiki/Trillion-dollar_coin
The trillion-dollar coin is a concept that emerged during the United States debt-ceiling crisis in 2011, as a proposed way to bypass any necessity for the United States Congress to raise the country's borrowing limit, through the minting of very high-value platinum coins. The concept gained more mainstream attention by late 2012 during the debates over the United States fiscal cliff negotiations and renewed debt-ceiling discussions. After reaching the headlines during the week of January 7, 2013, use of the trillion-dollar coin concept was ultimately rejected by the Federal Reserve and the Treasury.[1]
The concept of the trillion-dollar coin was reintroduced in March 2020 in the form of a congressional proposal by congresswoman Rashida Tlaib[2] during the shutdown caused by the COVID-19 pandemic in the United States. Tlaib sought to fund monthly $2,000 recurring stimulus payments until the end of the pandemic.[3]
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I was a teenager during the Reagan years and he talked about how bad the national debt was. He also increased it by 186%.
So it turns out that it really is a rather silly thing to worry about.
