Obama Proposes Garage Sale to Raise Revenue, Slash Deficit
Deep within the bowels of Obama's American Jobs Act (not to be confused with Gohmert's American Jobs Act) is a plan for a massive garage sale of government assets. So says the New York Times:
It involves selling an island, courthouses, maybe an airstrip, generally idle or underused vehicles, roads, buildings, land — even the airwaves used to broadcast television.
Among the listings: Plum Island, N.Y., off the North Fork of Long Island, which the government has already begun marketing as 840 acres of “sandy shoreline, beautiful views and a harbor.” As former home to the federal Animal Disease Center, it may need a bit of “biohazard remediation,” making it a real fixer-upper.
While the idea boasts bi-partisan support--liberals like the idea of raising revenue without axing programs that could cost them votes, and on our side, what's not to like about the government shrinking itself?--it's a pretty small potatoes revenue raiser, with liberal estimates (that is, WH estimates) figuring $22 billion of revenue over ten years. But just because the scheme would raise such a paltry sum of money for Uncle Sam, doesn't mean President Obama won't mention it every chance he gets. Remember that corporate jet tax that Obama couldn't seem to get over? That was estimated to raise a measly $3 billion over ten years.
If we want to get serious about real deficit reductions, we need to urge Congress to mandate double-sided printing for all government documents. Just imagine the savings.
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Dec '10
Re: Obama Proposes Garage Sale to Raise Revenue, Slash Deficit
The problem I have with this (and I do have one), is that it follows upon first bankrupting the nation. Who has American dollars to purchase these assets, hmmmMM?
Gingrich has come out with his new Contract that has, deep within it, a similar approach. However, his is more gradual and layered and does not depend upon the U.S. selling its assets while it is lying flat on its back. Gingrich's proposal is more of a long term divestiture of assets that are roadblocks to growth.
May '10
Re: Obama Proposes Garage Sale to Raise Revenue, Slash Deficit
If the Feds have "generally idle or unused vehicles", why are they buying Volts?
Update: Oh wait, maybe those are the Volts.
Edited on Sep 29, 2011 at 4:41pmAug '10
Re: Obama Proposes Garage Sale to Raise Revenue, Slash Deficit
Every so often , I can remember the glory and still appreciate the NYT. Wyatt's description of the "fixer-upper" is pretty funny.
Here in the Midwest, we have no animal diseases that we regard humorously.
Don't make fun of Vice-President Gore's massive effort to curtail spending, how did it result in a nine figured green, solyndraesque fortune for Gore ( night school ? ).
Jul '10
Re: Obama Proposes Garage Sale to Raise Revenue, Slash Deficit
Diane Ellis, Ed.:
If we want to get serious about real deficit reductions, we need to urge Congress to mandate double-sided printing for all government documents. Just imagine the savings. ·
Not to mention the opportunity for attendant, ostentatious tree-huggery. Your pitch has "bi-partisan support" written all over it.
Thanks for the wonderfully acerbic post, Diane. It was a pleasure to read.
Jun '10
Re: Obama Proposes Garage Sale to Raise Revenue, Slash Deficit
how do you raise "$22 million over ten years" selling assets? Don't you raise that money just one time?
Are they assuming they can sell the same property every year for ten years?
Apr '11
Re: Obama Proposes Garage Sale to Raise Revenue, Slash Deficit
I don't have a problem with this. I live in a county where 90% of the land is off the tax roles and our schools and roads reflect this fact. Of course this doesn't address the need to cut spending, but any move by the federal government to divest itself of power or property is welcome.
Aug '10
Re: Obama Proposes Garage Sale to Raise Revenue, Slash Deficit
Q: What do you call the government selling a small parcel of federal land off the coast of New York?
A: A good start.