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To: txrangerette
The United States Government OWNS OUTRIGHT vast resources including 1/3 of the land. Taxes aren't the only source of wealth ~

Just Pledge those resources against long term bonds at a rate set by the government.

Think of it as a REVERSE nationalization.

Obviously all of that land isn't the quality of Iowa farmland (currently $3000 per acre) but it's not all scrub either. Wyoming, not overly developed, still goes for $980 per acre (on average)

If we could pledge the US government owned total of 809408213 acres for a bottom end price of $500 per acre we would have $444 billion in value to play with. Obviously some of that land is worth much more, but there you have it if we just pledged it against bonds which would be given to claimants for payment at some future time.

If we could claim it at the price of raw farmland in Iowa, we'd have $4.8 trillion to play with.

There are OTHER resources of course. Highways to be sold to toll road companies; buildings; housing; etc.

There are oil bearing lands, coal, other minerals.

Look, I'm not an economist, but without very much work at all I came up with something to cover about 1/3 of the national debt ~ not just this year's debt (called a deficit).

The United States does not face default ~ there might be a bump in the road, but certainly a federal resource and land bonding authority can be conjured up in a few days.

33 posted on 07/16/2011 4:32:07 PM PDT by muawiyah
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To: muawiyah
Obviously all of that land isn't the quality of Iowa farmland (currently $3000 per acre) but it's not all scrub either

I can't speak for Iowa, but Hoosier farmground is going for $6-9,000/acre these days. Local people doing the buying, too.

Not that that really has any bearing on the rest of your post.

Even those Editors and normal folks who opposed the leasing of the tollroad here in IN, except for the hardcore Mitch haters, now admit it was a great idea and has worked wonderfully for the state.

37 posted on 07/16/2011 4:44:03 PM PDT by digger48
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To: muawiyah
Couple things.
Reverse mortgages are not good in the long term. They are only good for those who will be dead before the money runs out.

And if you can find some nice Iowa farmland for $3000 an acre, let me know. It is at least three times that for irrigated land.

66 posted on 07/17/2011 6:36:59 AM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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