Steve Jobs for President: Apple Has More CA$H Than U.S. TreasuryJuly 30, 2011 0 Comments
Putting the country’s
financial position into perspective, The Financial Post’s Matt Hartley reported this
stunning factoid Thursday night: Apple has more cash than the U.S.
That’s right. The
Treasury Department said Thursday that it has an operating balance of $73.768 billion, compared
with the $76.156 billion in cash that Apple recorded on its latest earnings report.
Hartley was quick to point out that the numbers aren’t directly comparable, since the Treasury’s number represents how much money the government has before hitting the debt ceiling, while
Apple’s cash holdings
represent all the money it has available on its balance
However, as Fortune’s Philip Elmer-DeWitt pointed out, Apple also actually sees profits and spends its money at a much lower rate than the government.
Hmmmmm.... maybe Steve Jobs should be running the country!