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2012-12-15 Economy
To solve our debt problems, let's sell Alaska
The prospect of once again hitting the federal debt ceiling has provoked the ritual round of hand-wringing about the intractable nature of this $16 trillion conundrum. But there is a simple, elegant option that involves no tax increases, no spending cuts and just a bit of imagination.

Sell Alaska.

That's right. Put the entire state -- from Juneau to Deadhorse, from the Bering Strait to the Beaufort Sea -- on the auction block.

Absurd? No more absurd than the spectacle taking place right now as we skid closer to the "fiscal cliff."

Selling real estate at top dollar is all about timing, and now's a great time to unload the Klondike state. The federal government, which owns 69 percent of Alaska, could cash in on the vast, resource-rich state at a time when oil prices are high and wild salmon is flying off the shelves at Whole Foods. Selling Alaska could fetch at least $2.5 trillion and maybe twice that amount, enough to lop off a huge chunk of the national debt and perhaps as much money as President Obama and House Speaker John Boehner hope to save or raise over the next decade.

The return on investment would look great, too. Secretary of State William H. Seward -- you might know him as the handsome fellow played by David Strathairn in the new Steven Spielberg movie, "Lincoln" -- bought Alaska from Russia in 1867 for $7.2 million, drawing ridicule. One New York newspaper that year called Alaska a "sucked orange," saying Russia had already drained all the value out of it. But even after adjusting for inflation, the price paid for "Seward's folly" or "Seward's icebox," as it was known back then, looks pretty cheap -- about $114 million.
Posted by tipper 2012-12-15 13:42|| || Front Page|| [11133 views ]  Top

#1 Here's a better idea. Lets sells Manhattan island.
Posted by Iblis 2012-12-15 14:38||   2012-12-15 14:38|| Front Page Top

#2 Im sure the Alaskans would love to cash out of the US. They could probably self finance with their resources.
Posted by bigjim-CA 2012-12-15 14:42||   2012-12-15 14:42|| Front Page Top

#3 D.C. secret auction. Winner gets inhabitants, both full-time and elected.
Posted by Besoeker 2012-12-15 15:03||   2012-12-15 15:03|| Front Page Top

#4 ibls - yes and DC
Posted by Water Modem 2012-12-15 15:17||   2012-12-15 15:17|| Front Page Top

#5 Sounds like a damn good idea t mee. What squealing Washington would Make if the "Sell Alaska" Offer were genuine, It'd put the fearof the People in Government, once and for all.
I' suggest it, as a "Proof" tht there's other (Undisclosed) ways to end this FISCAL CLIFF screaming.

Not that there's anything wrong with it, But, it won't happen.
Posted by Redneck Jim 2012-12-15 15:24||   2012-12-15 15:24|| Front Page Top

#6 It may be a bit too late. The alarms and audible warnings (Pull UP! Pull UP!) were ignored long, long ago.
Posted by Besoeker 2012-12-15 15:30||   2012-12-15 15:30|| Front Page Top

#7 I'd say sell California but it's not worth a Tinker's damn.
Posted by Deacon Blues 2012-12-15 16:26||   2012-12-15 16:26|| Front Page Top

#8 This article got me to thinking. Maybe the citizens of each state could pool their resources and buy back their individual states.
Posted by whitecollar redneck 2012-12-15 16:41||   2012-12-15 16:41|| Front Page Top

#9 Libs will do anything to get rid of Palin.
Posted by KBK 2012-12-15 17:49||   2012-12-15 17:49|| Front Page Top

#10 Thought I'd heard that Sarah et al. moved to Arizona.
Posted by Rambler in Virginia 2012-12-15 18:45||   2012-12-15 18:45|| Front Page Top

#11 Sell the entire west coast, Illinois, Michigan, New York, Taxachussets, and Minnesota - and tell Pennsylvania, New Jersey, Ohio, Wisconsin, Connecticut that they are next, unless they get their financial houses in order.
Posted by Lone Ranger 2012-12-15 20:29||   2012-12-15 20:29|| Front Page Top

#12 Sell Texas and let Texas buy themselves. That way they could secede without a fuss.
Posted by rjschwarz 2012-12-15 20:42||   2012-12-15 20:42|| Front Page Top

#13 The Chinese will also take Guam + Hawaii since you're offerring.

FEAR NOTETH, OWG AMERIKKA, AHMADINEJAD + IRAN'S BLUE-WATER NAVY WILL STOP 'EM!

[WAYNE'S WORLD "THUMBS UP" here].

Turkey? Pakistan Navy? Come on now, its gotta be one of them!
Posted by JosephMendiola 2012-12-15 21:17||   2012-12-15 21:17|| Front Page Top

#14 I like your thinking, rj.

Just give me a chance to move there so I can be a native-born citizen when they become a separate nation again. :-D
Posted by Barbara 2012-12-15 21:44||   2012-12-15 21:44|| Front Page Top

#15 The Federal government owns way too much land. It depresses local property taxes and economic development. We should not sell sovereignty of this land only title to the highest bidder.

We could easily raise 5 trillion dollars at the outset, and then raise more every year from ongoing economic activity.

Let's start now.


Posted by rammer 2012-12-15 22:19||   2012-12-15 22:19|| Front Page Top

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