London Calling: Make Us an Offer

While Europe is making progress with a big move toward privatization, the United States moves backward, toward socialism.

It might sound strange coming from our Editorial Board, but the United States government ought to be more like the United Kingdom's, at least in part.

British Prime Minster Gordon Brown announced this week that Britain would sell off various assets owned by the government, including two major national landmarks: Dartford Crossing and the Channel Tunnel, also known as the "Chunnel." In an even bolder move toward freer markets, the prime minster also announced the sale of the government-owned bookmaker, Tote, the nationalized Student Loan Company, and the government's 33 percent stake in URENCO, a major uranium enrichment manufacturer.

Ironically the move is being made by a prime minister from Labor, a party usually opposed to privatization. But Mr. Brown does not have much of a choice. Out-of-control abuses in spending, huge expansions in programs and government agencies, and massive entitlements led to immense debt and deficits facing the UK, which forced Labor's hand in generating cash immediately.

Across the pond, these same problems are putting the United States on a similar track of insurmountable debt and taxpayer burden — and we are not preparing to deal with them.

Unlike the Labor-controlled Parliament in Britain, Washington, under control of the Democrats (the American equivalent to Labor), is not proposing privatization, asset sales or, most importantly, cuts in federal spending.

Instead, President Barack Obama and his administration are advancing a greater government role in health care, a subsidized U.S. auto industry and partial ownership of some large banks. Not to mention the absence of a plan to deal with the looming underfunding crisis facing Social Security and Medicare. We are on the same track that put the UK in its current predicament.

Without being too radically free-market (though we would love to see some free-market radicalism), the federal government and state governments could make a few market-friendly moves that would help curb the debt and reduce government waste substantially.

A not-too-controversial start would be to sell off the U.S. Postal Service. If private companies like UPS, FedEx or Orange County's own Overnite Express can do it better, at less taxpayer expense, let them. This would save taxpayers substantially.

Also, the federal government owns a lot of land, especially out West. It is probably a good time to sell off some of those assets, perhaps like some of the Mojave Desert.

At the state level, there are a dozen other ideas that would help save taxpayers billions — not to mention would make us freer. Simple things like modernizing and automating the Department of Motor Vehicles or allowing insurance companies to sell across state lines, increasing competition that would lower premiums, are just two simple solutions that could easily be implemented.

Of course, selling off assets is only a short-term fix. What is needed in the long term is fiscal discipline, prioritization and drastic cuts in government spending across the board. Federal, state and local governments should live within their means. Stop spending what you don't have — or be prepared to sell off the Statue of Liberty.