General Service Administration (GSA) finds it harder to sell US Real Estate

Hey President Obama, it’s been 2 years since this report was published – where are we on disposing of Assets to help pay down debt?

The Republican members of the Transportation and Infrastructure Committee recently released a report titled Sitting on Our AssetsThe Federal Government’s Misuse of Taxpayer-Owned Assets“.

Apparently the report has said the GSA doesn’t dispose of property in a timely manner and fails to act as a prudent property owner.  Even Barack Obama directed federal agencies to accelerate the elimination of unneeded properties back in June 2010.

In all fairness, some of the properties include lighthouses and other odd properties and financing of unusual properties has dried up  – so it might not be entirely fair to criticize the GSA since it’s an easy target.

Source:  WSJ, November 17, 2010, Page C12

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