As total debt held by the public crossed the $30 trillion mark this summer, it would be valuable for policymakers to take stock of the nation’s balance sheet.
There are two sides to every balance sheet. On the asset side, the US owns a lot of valuable things. USA has vastly more assets than debt. Camp Pendleton. The gold reserve ($1 trillion). Alaska and its oil. Nevada and its mines. The Tokyo embassy. The entire Continental Shelf and its oil & gas and fish. The entire radio spectrum. Pearl Harbour. GSA's thousands of empty office buildings. We stupidly gave the Presidio to California and Governor's Island to New York for not a penny. The Treasury needs to establish a Bureau of Federal Assets and start selling.
There are two sides to every balance sheet. On the asset side, the US owns a lot of valuable things. USA has vastly more assets than debt. Camp Pendleton. The gold reserve ($1 trillion). Alaska and its oil. Nevada and its mines. The Tokyo embassy. The entire Continental Shelf and its oil & gas and fish. The entire radio spectrum. Pearl Harbour. GSA's thousands of empty office buildings. We stupidly gave the Presidio to California and Governor's Island to New York for not a penny. The Treasury needs to establish a Bureau of Federal Assets and start selling.