Today the federal government owns 640,000,000 acres. 640 million acres of mostly useless, arid, desert that will support one cow for every 20 acres and no water. If the govt sold it all for $1000/acre that is $640 billion dollars about 3% of the $21 trillion debt. If it sold for $2000/acre it would pay off 6% of the debt. So now that we have sold the family jewels, what will we sell to pay off the rest of the 94% of our debt? Incidentally, real estate taxes on ag property are minimal and go to the state, not the federal govt.
I am being pretty liberal here on western land values. Ted Turner just bought 26,300 acres in Nebraska for $10 million or $390/acre and and a different buyer just closed on 77000 acres in Wyoming for $20.9 million or $271/acre.
And the money for USA oil, goes to the company that found and drilled for oil..not the federal government.
I hope there is a rational and realistic solution to our debt crisis, but it will not be a painless remedy.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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