Time For a Yard Sale? Selling Excess Property Could Net Government Billions (+video)

When families face a budget crunch, they have but a few options — spend less, make more or starting selling stuff.

So why doesn’t the federal government do the same?

Given the current state of the country’s finances, many are wondering if it is time for the federal government to sell what it doesn’t need — basically, hold a yard sale.

The federal government is sitting on billions in assets that are either sluggish or just dead weight. That includes federal land, buildings and other structures. Two years ago, President Obama’s deficit commission identified 64,000 buildings and structures that it deemed excessive, underutilized or vacant and recommended should be sold.

“So instead of raising taxes, which takes money out of the economy and lowers economic activity, we ought to be looking at selling federal assets,” said Myron Ebell, with the Competitive Enterprise Institute.

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