31 Jul '11, 3am

Apple has more money than the US government - Yahoo! via @yahoosg

Here’s a frightening statistic: Apple Inc. now has more cash on hand than the entire United States federal government. As of Wednesday, July 27, the balance sheet for the US Treasury dipped down do $73.768 billion. That compares to the $76.156 billion Apple has in its deep coffers — a difference of $2.388 billion. So, how in the name of all that’s good and fiscally responsible in this world did such a thing happen? A wide variety of individual factors are at play, here, of course. But it comes down to one basic fact: Apple makes more money than it spends while the US government spends more than it generates in tax revenue. In other words, Apple is doing a really good job at running itself, while the federal government is not. As you all surely know by now, Washington is stuck in a relentless gridlock over how to raise the national debt ceiling. If you haven’t yet grasped t...

Full article: http://sg.news.yahoo.com/apple-more-money-us-government-1...

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