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Wednesday, March 02, 2011
Obama Wants To Sell Government Owned Properties
President Barack Obama is proposing the creation of a panel that will recommend how the federal government can sell off properties it no longer needs. The independent board would include public and private sector members who will develop a plan for matching the government's real estate holdings with its core missions and programs, an official told CNN on condition of anonymity.
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5 comments:
Lets see. Will the usual hyperpartisan idealogues (mostly right-wing on this blog) consider this a move to put real estate into the hands of private industry (something you think they would advocate for) or will they paint it as "Obama is selling America to the Chinese!"?
LG - Since the president is a Democrat, it is the latter. Easy.
why would the Chinese want to buy it when our government is planning to give them eminent domain rights because we owe them so much.Thanks to to idiots we have elected that can't balance a check book.
There's a couple ways to look at this. If the land is sold at fair market value to domestic investors then I MIGHT be ok with it. Not to mention, the sale of public lands will put property back on the tax roles creating additional revenue. HOWEVER, property values are at an all time low so fair market value can not be achieved. The actual revenue from the sale of public lands will only be a bandaide to the current financial problem. Essentially what the government would be doing is selling the lands that technically belong to the U.S. Taxpayer to pay debts cause by poor spending decisions by the Federal government. Why should the taxpayer, again, bare the burden of poor fiscal responsibility?
In addition, if the Feds sell off property then that would liquefy U.S. assets and lower the physical assets (the assets that have a higher potential to increase in value than liquid cash) of the U.S. thus causing the GDP to decrease which in turn has a high potential to destroy government bond ratings which will result in lower earning potential for U.S. bond holders and investors. Does this still seem like a good idea? LG, I might be a little closer to the "right" but at least I can explain myself.
Selling off property isn't going to solve the spending problem. It's spending stupid!
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