Apple Has More Cash Than U.S. Government – America’s Debt Crisis
American’s are understandably upset with the continuing bickering and petty politics that have lead to, and perpetuated America’s ‘debt crisis’.
If you and I handled our personal or business like our elected representatives, we’d be in deep trouble.
But wait until you hear this.
Apple Corporation has more cash on hand the the U.S. Treasury! That’s right the world’s largest computer corporation has more cash on hand than the world’s largest economy.
Personally, I am flabbergasted that we can send man to the moon, build incredible infrastructure, but not be able to learn to live within a budget and manage our finances, like grownups do.
This is not some frat house here where only some of us contribute for the pizza and beer.
It’s time for Washington to get their collective heads on straight.
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.
So what should we do about it?
So what should ‘we the people’ do about it?