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 ...
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?
He’s 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!
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