Fire Congress, Dump Mississippi and Alaska
How a private-equity firm would refurbish the United States for quick resale to China.
Like many large corporations, America is going through a painful transition as it reaches maturity. Growth has stagnated, expenses have soared, and shareholders are getting antsy. While emerging markets offer potential, competitors are rapidly eating away at the United States’ market share. Analysts are bearish, with many believing the country is on the decline. Is it time for a leveraged buyout?
Probably not. Still, it’s a fun thought experiment: What sort of changes and cost-cutting measures would a firm like Mitt Romney’s Bain Capital impose if it wanted to buy the country at a discount and refurbish it for a quick, profitable sale to, say, China?
Though the United States carries a $15 trillion debt load, if you look past its bloated budget and shaky governance, the country has some valuable assets. America has vast real estate holdings, a productive workforce, reliable cash flows, and a globally recognized brand name. An aggressive private-equity outfit, though, would find a lot to cut and a lot of people to fire. Here’s a 10-point plan to get the country shipshape.
Read the full article here: Slate Magazine