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[h=1]Apple Now Has More Cash Than The U.S. Government[/h]Matt Rosoff | Jul. 28, 2011, 8:14 PM | 248,308 | http://www.businessinsider.com/apple-has-more-cash-on-hand-than-the-us-government-2011-7#comments243
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AAPL Aug 1 2011, 10:06 AM EDT
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[h=3]See Also:[/h]
[h=4]NO VOTE ON BOEHNER PLAN AS TEA PARTIERS REVOLT [/h]
[h=4]The Debt Ceiling Debacle Is Only The Beginning Of A Major Fiscal Crisis[/h]
[h=4]Sarah Palin Eggs On Tea Partiers -- Threatens To Get Them Fired If They Vote To Raise Debt Ceiling[/h]
Here's something to keep in mind as you follow this evening's congressional debate over the debt ceiling. According to the latest daily statement from the U.S. Treasury, the government had an operating cash balance of $73.8 billion at the end of the day yesterday.
Apple's last earnings report (PDF here) showed that the company had $76.2 billion in cash and marketable securities at the end of June.
In other words, the world's largest tech company has more cash than the world's largest sovereign government.
That's because Apple collects more money than it spends, while the U.S. government does not.
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AAPL Aug 1 2011, 10:06 AM EDT
393.71 | |
+3.23 | +0.83% |
Change% Change
[h=3]See Also:[/h]
[h=4]NO VOTE ON BOEHNER PLAN AS TEA PARTIERS REVOLT [/h]
[h=4]The Debt Ceiling Debacle Is Only The Beginning Of A Major Fiscal Crisis[/h]
[h=4]Sarah Palin Eggs On Tea Partiers -- Threatens To Get Them Fired If They Vote To Raise Debt Ceiling[/h]
Here's something to keep in mind as you follow this evening's congressional debate over the debt ceiling. According to the latest daily statement from the U.S. Treasury, the government had an operating cash balance of $73.8 billion at the end of the day yesterday.
Apple's last earnings report (PDF here) showed that the company had $76.2 billion in cash and marketable securities at the end of June.
In other words, the world's largest tech company has more cash than the world's largest sovereign government.
That's because Apple collects more money than it spends, while the U.S. government does not.