And the downside?Bruce Weldy wrote: And let's not even talk about how stoned the country would have to be to wipe out the debt.

Perhaps the greatest expansion of human knowledge occurred in renaissance Europe. What's not commonly known is that Europeans of that era right through the end of the 19th century were perpetually buzzed, because you couldn't drink the water, so beer and wine were drunk at every meal and all day long. That didn't stop them from great accomplishment. It would probably be a good idea that we make it mandatory that members of Congress have snort or two at the start of every daily session. Maybe then they could get something done.
What your calcs don't account for is the cost of the 'war on drugs', from the fields where it's grown to the overflowing prisons and all points in between.
Don't get me wrong, I don't advocate weed or hash. I grew up in the 60s, so of course I've had both, but neither appealed to me as much as a Jack Daniels and a Marlboro, so I don't partake. And even if legalization doesn't cure all our financial woes it would still at least plug one bottomless money pit sucking up our tax dollars.