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March 12, 2008 10:23 PM | Alaskan Photo Tours

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Why does America Just Sell Hawaii to get out of debt?

Why does not the govt just sell off Hawaii or Alaska. Then can pay for the mortgage crisis. Then step back and freeze the assets of the people who created all these bad loans investment. I do not see what ordinary Americans have to be involved with political debt.

It is the aim that our elected officials to get out of debt. If well, the budgets that we would spend less money than is collected through taxes. The truth is that the mortgage crisis is our dependence on debt "growth." The fundamental underlying problem is not the fall in house prices (such as Paulson says) or poor lending practices of intermediaries. In fact, the fall housing prices is a solution. These are symptoms of a larger problem: excessive reliance on debt. What is the origin of this debt? Search System Federal Reserve. Almost every dollar that represents the government debt. Short answer (from the perspective of the legislators): why sell Hawaii when the Treasury may create value from nothing and have the Federal Reserve believes that money to compensate for the deficit? The only way America can get out of debt is for individuals and government to stop borrowing, start winning, start saving and buying things that you can afford. Yes this will cause a short recession, but it is necessary recession, real growth can begin afterwards. Basically I'm parroting lines of Peter Schiff. See his speech in November 2006 in youtube playlist below.

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