Stupid Lib WaPo: “To Fix Debt Problems Sell Alaska”

Yesterday the Washington Post offered up the brilliant idea that a great way to pay down the US’ national debt would be to sell off the state off Alaska. The writer, Steven Mufson, believes that the sale could generate $2.5 trillion – “…and maybe twice that.”.

There are several really stupid angles to this idea. First, $2.5 – or even five trillion wouldn’t make a dent in the national debt. But that’s not the worst part. Nowhere does the writer even consider that the debt problem is caused by over spending. The money generated by a sale like this would not pay down the debt. Our illustrious Congresscritters would be rubbing their hands together about the windfall and where to waste spend it.

Then, too, how much sense does it make to consider selling off a state which has some of the most important resources in the nation?

What is Alaska worth today?

There are 3.7 billion barrels of proved oil reserves and 9 trillion cubic feet of proved natural gas reserves in the state, according to the Energy Information Administration. Oil companies are eyeing even bigger potential reserves in unexplored areas. The Interior Department estimates that the Chukchi Sea alone could hold up to 12 billion barrels, equal to half of the country’s proved reserves, and Cook Inlet and the Beaufort Sea as much as 8 billion barrels. The state has large shale areas where new hydraulic fracturing techniques could yield new supplies.

In the mid-1980s, Michael J. Boskin, a Stanford University economist, estimated that Alaska’s oil and gas reserves alone were worth at least $200 billion. But new discoveries have outstripped production, and Boskin was assuming a price of $26 a barrel for oil, less than a third of today’s prices.

Alaska has countless other natural resources, some in areas we hold off limits, such as the Arctic National Wildlife Refuge, and others on state lands. Mining companies are salivating at the prospect of more than $300 billion worth of copper, gold and molybdenum at their proposed Pebble mine in the southwestern part of the state. The state’s forests could also be exploited.”

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5 Responses to Stupid Lib WaPo: “To Fix Debt Problems Sell Alaska”

  1. James says:

    Selling White House furniture and silverware also pays off the debt. Remember, it was my idea first. Don’t want anyone else to get credit for it.

  2. R.D. Walker says:

    So. A state cannot secede but it can be sold off? Right.

    Here is a better idea: Sell the District of Columbia.

  3. R.D. Walker says:

    The stupidity of the left is just painful. Here is a comment for that article.

    It boggles my mind that people suggested cuts in taxes would increase revenue. Under that logic, cutting taxes to zero would increase revenue the most. I don’t doubt that some people are simple enough to think there might be some truth to the idea, but not the people you send to Washington to run a country’s government.

    I suspect that commentator’s mind is also boggled by doorknobs, stair steps and the operation of tea cups.

    The simpleton seems to think the ratio of tax revenue to tax collection is linear. I can prove it isn’t in a second…

    1) What is long term tax revenue if the tax rate is 0%? Zero, obviously.

    2) What is long term tax revenue if the tax rate is 100%? Also Zero. Nobody produces anything if it is taxed at 100%.

    Therefore, there exists something called the Laffer Curve.

    laffer-curve

    This person calls others simple.

    Stupid doesn’t bother me too much. Arrogance doesn’t bother me too much either. When stupid and arrogance are combined, however, the toxic brew is too much to suffer.

  4. notamobster says:

    Alaska (R) Governor Mead Treadwell had this to say when the idiot reporter suggested it to him. I love the idea:

    “I can’t talk down our value,” he replied. “It’s a great piece of property. We love this place. Great views.”

    He proposed that Alaskans themselves try to buy their state. I thought it sounded like an employee buyout; Treadwell said he preferred to think of it as a “citizens’ buyout.” He said, “I don’t think we want to leave the country to help save it, but if it comes to that, I’m sure we’d bid.”

    I think we should sell Michigan to Switzerland. Then, my government would trust me with firearms enough to issue one to me. :-)

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