Apple now has more cash than the U.S. Government!

Discussion in 'Economics' started by bond_trad3r, Jul 28, 2011.

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    Matt Hartley Jul 28, 2011 – 4:56 PM ET | Last Updated: Jul 28, 2011 5:29 PM ET

    Steve Jobs is now more liquid than Uncle Sam.

    While it’s highly unlikely that President Barack Obama is looking to ask the founder and chief executive of Apple Inc. for a loan, it became a fact as of Thursday afternoon — the world’s largest technology company now has more cash on hand than the most powerful democracy on Earth has spending room.

    As Republicans and Democrats continue to work towards a compromise to the country’s debt ceiling crisis, the U.S. Treasury Department said on Thursday that Washington now has a total operating balance of only US$73.768-billion.

    Meanwhile, Apple currently boasts a cash reserve of US$75.876-billion, as of its most recent quarterly earnings report at the end of June.
  2. Bob111