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 ...
The United States Only Has $54 Billion Of Cash Left In The Bank
See here :
http://www.fms.treas.gov/dts/index.html
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.
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