Does this say Paul Ryan advocated raising taxes? Because the headline suggests that the outcome of all this angst is that the GOP will raise taxes. So, where does it say he’s advocating raising taxes?
It doesn’t. But as long as the GOP agrees with the notion that not raising the debt ceiling = 2008 all over again then Obama will hold out and push even harder for “revenues” aka tax increases. I agree with Gingrich - instead of spending all this time meeting with Obama the House should start passing things and force Obama to veto it. I hear they’re going to vote on cut, cap and balance next week. About f’ng time I say.
Just Pledge those resources against long term bonds at a rate set by the government.
Think of it as a REVERSE nationalization.
Obviously all of that land isn't the quality of Iowa farmland (currently $3000 per acre) but it's not all scrub either. Wyoming, not overly developed, still goes for $980 per acre (on average)
If we could pledge the US government owned total of 809408213 acres for a bottom end price of $500 per acre we would have $444 billion in value to play with. Obviously some of that land is worth much more, but there you have it if we just pledged it against bonds which would be given to claimants for payment at some future time.
If we could claim it at the price of raw farmland in Iowa, we'd have $4.8 trillion to play with.
There are OTHER resources of course. Highways to be sold to toll road companies; buildings; housing; etc.
There are oil bearing lands, coal, other minerals.
Look, I'm not an economist, but without very much work at all I came up with something to cover about 1/3 of the national debt ~ not just this year's debt (called a deficit).
The United States does not face default ~ there might be a bump in the road, but certainly a federal resource and land bonding authority can be conjured up in a few days.