The federal government is racking up a trillion dollars in bills each year that it cannot pay. It long ago passed the point where any private-sector business or individual would have been required to declare bankruptcy, if not face charges of mental incompetence to manage their own affairs.
But Washington is not really “poor.” It is very rich in assets, which it could sell or lease to pay its bills, without raising anyone’s taxes. Many of these assets would produce health economic activity in the hands of private investors, while Uncle Sam leaves them strewn carelessly across the landscape, like toys he refuses to put away after playing with them.
The Institute for Energy Research just released a new study that inventories these “vastly underutilized” federal assets:
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