Apple has more cash than the federal government

Maybe President Obama should turn to Steve Jobs for help in the debt-ceiling crisis.

By Kim Peterson Jul 29, 2011 2:50PM
Apple (AAPL) appears better funded than the United States at this point.

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.

Post continues below video:
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.
13Comments
Jul 29, 2011 4:16PM
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Apple has a huge cash surplus you say? That was as of June 25th and now you think they have even more? What will they do you ask? Hmm, I say send more jobs over seas, layoff US software engineers, hire more accountants to decrease their tax "liability" and expand their business with Chinese iPhone manufacturers.
Jul 29, 2011 4:49PM
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@iiShortGoogle - How about GE only hiring Chinese engineers?  Even paying to educate them on the company dime.

Bye bye America.
Jul 29, 2011 4:55PM
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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.

Aug 1, 2011 10:41AM
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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.

Jul 29, 2011 5:33PM
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I'm pretty sure Apple will decide to use "trickle down" economics to shower us with the awesomeness of letting us spend more money on their products very soon.
Jul 30, 2011 8:55AM
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 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

Jul 29, 2011 11:21PM
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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.

Jul 29, 2011 11:31PM
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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.

Jul 29, 2011 9:32PM
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Ummmm... Is this one of Apples marketing ploys cuz they have bad products, and need to get them out there before everyone else sees that there r much better products than their's? Cuz it makes u think, "oh, Apple makes good money, good money equals ppl buying things.. Things like GOOOD PRODUCTS?!" That is the consumer market right there lol Oh, and about the debt ceiling thing... Idt they will let America default, it's just not resonable when it's so easily avoidable, the government has something, and always will. I mean, that's all they do all day anyhow, find ways to get around things like this.... And listening to eachother bicker cuz they have a view of the "old world" and how good it was like all the genrations before haz said... Grow up, and become a part of change and progression, not a damper on Human success
Jul 30, 2011 9:06AM
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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

Jul 29, 2011 11:12PM
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Damned well easy to have that much money when you don't pay any taxes and outsource all your manufacturing. The last thing this country needs is another Fascist Republican in government.
Jul 29, 2011 8:54PM
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Confiscate it all those rich greedy bastards! How dare they fly around in those corporate jets spewing all that global warming out the engines. They should be ashamed! Turn it over to the government, they know how to spend the money better than Apple!
Jul 29, 2011 5:22PM
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Is anyone surprised? We have an economic moron in the White House.
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