(9 am. – promoted by ek hornbeck)
Did you know that the Federal government hit the debt ceiling? Did you know that the US government owns 70% of the state of Utah? Did you know that the US government also still has lots of gold in Ft. Knox? The right wing Tea Party Republicans, who now hold the country hostage, have suggested we hold a “garage sale” and sell off assets to pay the ransom.
Many conservative Republicans in the House of Representatives, especially those affiliated with the small-government Tea Party movement, say that Geithner and the White House are trying to panic them into raising the debt limit.
They also contend that the Treasury has other options to continue meeting the country’s obligations, such as selling assets including gold reserves and government land.
“There is no certain day,” said congressman James Lankford, a member of the fiscally conservative Republican Study Committee. “It’s a moving target. Even if Aug. 2 is passed, Treasury has the tools in its back pocket to keep us from defaulting.”
Lankford added: “Treasury has done a good job of trying to increase the panic, rather than giving us solutions.”
Dennis Ross, a House Republican and a member of the Tea Party caucus, told Reuters: “I don’t think Treasury has been up front with us. I am not convinced the sky will fall in on August 3.”
Ross added: “I’m not an economist, but I have maintained a household. The federal government owns 70 per cent of Utah, for example. There are federal buildings. If you need cash, let’s start liquidating.”
If they decide to sell off chunks of Nevada, I want first dibs on Area 51.