Are Federal Properties Actually Worthless?

The Obama administration's ambitious plans for selling off federal property could end up costing more money than expected. The Congressional Budget Office told lawmakers that some wrong assumptions went into the White House estimate that the sale would save $15 billion over ten years. CBO found that many of the properties on the sale list are actually worthless. The Office of Management and Budget said it hopes to create a panel to identify properties for sale modeled on the Base Realignment and Closure Commission.