Apple has more cash than the federal government
Maybe President Obama should turn to Steve Jobs for help in the debt-ceiling crisis.
The struggling federal government is down to an operating cash balance of $73.8 billion, according to the latest figures from the U.S. Treasury. That's not much to go on. In fact, Apple has more than that in its bank account.
In its latest earnings report, Apple had $76.2 billion in cash and marketable securities (short-term and long-term). Get Steve Jobs to the Oval Office, quick!
But, as the Financial Post points out, the numbers aren't directly comparable. The government's balance is how much wiggle room it has before hitting that dreaded debt ceiling. And Apple's figure shows its cash and investments that can be converted into cash.
Are we on the verge of a double-dip recession? One analyst says yes in the following video.
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Apple's $76.2 billion, by the way, was as of June 25. We can only assume the company has stockpiled more by this point.
At any rate, the comparison puts some things into perspective. Apple is on its way to owning the world. And the U.S. government, well, maybe it should get into the tech business.
If it werent for mounting debt I would say this is a good thing. When the gov has some money lying around it will find some way to flush it down the toilet.
Yeah Danny, that's what we need, a bigger divide between the rich and poor so that we can model Mexico. The same companies shipping jobs overseas are the same ones taxpayers bailed out. What Chinese laborers make doesn't concern us, what Americans make does.
You have a problem with Americans making a decent wage, but I bet you have no problem with a CEO getting a 30 million dollar bonus for running a company into the ground then getting bailed out. You probably are even brainwashed into thinking trickle down economics is anything but voodoo. You're the same guy that complains because Obama wants to increase the high end tax rate 4%, which is still lower than 3/4ths of the history of the progressive tax system and is what Reagan averaged during his tenure, but the black guy is a socialist. People don't create jobs by getting a tax break on their personal income, they buy speed boats. The marginal rate on corporate taxes is the lowest it's been in half a century, but you probably think it's unfair. And the really sad part is, you VOTE against your own best interest even though you ARE middle class.
Apple had $76.2 billion in cash and marketable securities (short-term and long-term)
securities arent cash and the Govt. has way more securities ( treasury notes) and can print as much funny money as it wants
Steve jobs is running 1 company with few us employees and a million chinese slaves.
Cant do that at the white house so dont even compare. How many producs does he produce? Most apple big sellers are different versions of the same line. 1 model slightly varied Phone , I touch pad , 1 music player and some pricey computers. All made in China. Dont worry no one will be able to buy any of these products if the tea drinkers have their way.
The last election The voters spoke , they wanted the tea drinkers that is what you do at a party.
Now these same people are crying , wait until they crash the economy and your 401K's and pensions disappear. They told you what they were going to do yet the real economic morons are expecting different results. Go tea baggers Go all the way to hell.
quit whining about shipping jobs overseas
Companies are in business to make money, if its cheaper to outsource then they will.
you cant have it both ways. all the whiners complaining about outsourcing are the same ones who want more govt., more freebies, more illegal aliens. where do you think all the money comes from for your benefits? you want to make $30 an hour, with health care, vacations, sick days, flex time, day care, have a couple of cars and a big fancy house, tvs, computers in every room, Iphone, Ipad
it all costs money, if a company has to pay you that kind of money there is no way that they will be able to compete against most other countries with a lower standard of living. And the Chinese workers are far from slave labor, they are mostly rural peasants used to making $5 a week , so working in a factory making $5 an hour is a blessing.
Face it, Americans are for the most part spoiled , lazy and greedy
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