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.
Ouch.
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 ...
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...
Wooo Hooo.
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”.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.