Its importance is measurable not only in dollars—almost trillion[1] (,552 per capita[2])—but also in the grave threat it poses to the American financial system and therefore to the health and well-being of private businesses and households. This examines the potential for vastly improving the U. government’s fiscal position by using a method seldom utilized for the purposes of federal debt-reduction: the sale of federal assets. The sale of federal assets for the purpose of debt-reduction warrants serious consideration mostly because of one fundamental issue: America’s debt obligations are so huge that traditional methods for improving the government’s fiscal stance—namely, by raising more tax revenue, printing more money, or refinancing/reissuing government debt—are inadequate to the task and would create a host of major problems.A default on a scheduled federal debt payment, caused by the government’s lack of funds necessary to service its debt obligations, could spark a fire sale on U. Treasury securities, prompt a sharp fall in the value of the dollar, and launch a rapid “flight to quality” as investors and dollar holders flee to the perceived safety of other nations’ bonds and currencies—all culminating in a U. Raising the necessary tax revenue would, for example, siphon off significant funds from businesses and households, thereby slowing the wheels of commerce and reducing household wealth.

Now a new and authoritative voice has joined the debate.

The debtor must not have had a previous bankruptcy dismissed for cause within the last 180 days.