Skip to comments.Bill Gates Now Has More Money Than The Federal Government (Fairness?)
Posted on 07/30/2011 9:10:57 PM PDT by SeekAndFind
he Federal government now has only $54 billion in cash in the bank.
That's $2 billion less than the net worth of Bill Gates, as frequent BI commenter @ComfortablySmug points out on Twitter.
People had been writing that the US's cash balance had gotten so bad that it was less than some companies. Now it's so bad that it's less than some people. Terrible, terrible. It just goes to show that Congress needs to get its act together now and raise the debt ceiling.
(Of course, net worth and cash on hand are different concepts, so it's kind of comparing apples and oranges, but what matters is that it's a powerful symbol.)
(Excerpt) Read more at businessinsider.com ...
The United States Only Has $54 Billion Of Cash Left In The Bank
See here :
That’s down from $100+ billion only eight days ago.
In the middle of last week came the shocking news that Apple, Inc., had more cash than the United States. Now, Apple has a lot more cash than the United States.
They can just extort more when they run out.
So he could replace the government?
Yes! Can he buy it and run it a bit more like a business?
Not the same, if Bill Gates tried to sell all his stock, the price would probably drop 90%; not that much left for the Government to waste.
Bill Gates’ method is best with small amounts (at least to him) many times.
Not that I like Gates, but that sure would be an improvement!
You really want to see the “blue screen of death” when you are dealing with the government?
“So he could replace the government?”
For about 5 days.
Actually, if that meant shutting down most of it, I'd whole-heartedly welcome it! In a nice light shade of cerulean, at that! :)
If Obama is to be believed then by Tuesday we’ll all have more cash than the government.
Whoop dee doo.
When Bill Gates dies, the reality is that sorting through his estate will create more jobs and wealth in America than Obama has.
Well as usual the article misses the point. Bill Gates money is money he earned and saved by operating on a budget unlike the Federal Government that uses a branch, the IRS, to confiscate money, not earned, but by law enforcement and continues to squander it unchecked with no budget restraints. Right now the Federal Government wants to confiscate more of our money to continue their unbridled spending habits. Hence raise the debt ceiling instead of getting our economical house in order by living with in it’s means of a rational budget that does not burden the people rich or poor. Bottom line it is not the government’s money to spend it is the people’s money and until the nut jobs on Capital Hill get that through their thick heads we will continue to be in a crisis.
If I borrowed 56 billion, I wouldn’t consider myself wealthier than Bill Gates. The media is missing the whole point of this. The government has maxed out its credit card....again.....as planned. The argument is simple - let’s quit planning to max it out again.
Gee. Someone tell the Bamster.
The US government does not count the value of all the buildings, lands, etc. it owns. Or all the crap it has purchased with the debt: Aircraft carriers, nuclear submarines, Air Wings, Tanks, H bombs, ICBMs, just think of the things it buys.
It owns more land than any other entity and more buildings than any real estate concern.
You can bet very little of it came from theft
It would be nice since the Appleheads rejoice they have more money in their cult corporation than Microsoft, that they give all those billions to charity.
But they don’t.
All of us have more money than the Federal Government. They are 14 trillion in the hole.
Every US citizen has more money than the Feds. The feds have no money, all the money they spend belongs to US, the citizens and legal residents the USA. There is no such thing as government money, only taxpayers money.
Not to mention $114.8 trillion in unfunded liabilities.
So by next week, I will have more money than the federal government...
He spent less than his income, wonder of wonders, he has a surplus.
The one thing fedgov has that Bill Gates doesn’t, is the ability to take your money away from you by the point of a gun. Don’t believe me? Stop paying your taxes, and let’s see how far you get.
Don’t forget Peelosi and her husband, they are worth mucho bucks also, but don’t worry she’ll stil get her Senate bucks along with her staff, and pee on you peons, bet on it.
In all fairness and shared sacrifice... Bill needs to fork over 3/4’s of his wealth to the US Govt. Isn’t that fair? He can live on the balance just fine. /s/
And everything it “owns” is a liability, not an asset! Can you think of one US government asset that does not cost us money every year to maintain?
Give the “Western land” back to the states, and save billions/year.
How much more can you pay the government for an H bomb than it cost us?
Microsoft could buy the USA now?
Soon it will be a crime to run Linux.
Some aver that Gates got his start through business practices so sharp they were ethically questionable.
He’s better at managing his money than the current Federal Government
US’s cash balance had gotten so bad that it was less than some companies.
Democrats killed the balanced budget bill,what do they fear? honesty.
Let’s be honest. The country’s balance sheet is not in bad condition. Think of all of the land owned by the federal government. If we started selling off strategic pieces, we could eliminate the national debt and become energy independent. Of course, that will never happen. But it is disingenuous to talk about net worth based solely on an income statement for the asset side and the balance sheet debt.
Watch out Bill! The DemoThiving Damned nation you have been supporting are now targetting *you*.
It stands to reason that anybody that spends less than they take in will eventually pass the US government in terms of accumulated wealth. The government is bankrupt, basically. They should be liquidating assets to pay off debt.
Bill might have more money than the government, but he got it the old fashioned way.... he earned it.
Who’s kidding who? Everyone knows by now that all of Gates’ money belongs to the government - my and everyone else’s bank accounts and investments are officially the property of the despots who call themselves our “representatives”.
Forget about Bill Gates...I have more money than the Federal government when you consider debt-to-income ratios. At least I am not in debt to the tune of approximately five or six times my yearly salary.
That’s what we see all of the time, so it would not be any different, would it?
Hes better at managing his money than the current Federal Government
My 14 year old daughter can make that claim.
Ah, but is it really worse than the Red Tape Of Death?
Hey, as far as I am concerned we could have a fire sale as long as the results paid down debt. Do all that and let see how much debt is left.
Assets have costs associated with them in business so that isn’t anything to worry about.
I am merely pointing out something that is never considered: what is actually purchased with the debt and that the government owns trillions perhaps even thousands of trillions of valuable assets.
Don’t you agree that is true?
Gates is a lib, take his money!
Yes, the government owns a huge amount of valuable assets. But it will not sell them, and they earn nothing. A business would earn something with them or sell them.
The government’s “assets” just cost huge amounts to maintain, and keep the states and localities from reaping property taxes from them, and individuals and businesses from earning a return from them and paying taxes to the governments on those profits.
This is fine for reasonable amounts of land for “National Parks and Monuments” but when Clinton locks up huge amounts of mineral rich property to enrich his foreign buddies, it is just corruption.
I think the feds should definitely sell a lot of the land, if not most, that it owns particularly when it makes up the majority of land in several states.
Clinton’s coal deal is just one of the harmful actions which need to be addressed. We can expect no less from the Democrats.
Is she a Representative and a Senator? Wow! That’s a career path I never imagined was possible!