While it’s highly unlikely that President Barack Obama is looking to ask the founder and chief executive of Apple Inc. for a loan, the Financial Post reveals it became a fact as of Thursday afternoon — the world’s largest technology company now has more cash on hand than the most powerful democracy on Earth has spending room.
As Republicans and Democrats continue to work towards a compromise to the country’s debt ceiling crisis, the U.S. Treasury Department said on Thursday that Washington now has a total operating balance of only US$73.768-billion.
Meanwhile, Apple currently boasts a cash reserve of US$75.876-billion, as of its most recent quarterly earnings report at the end of June.
Of course, the numbers aren’t directly comparable; the government’s number represents how much financial headroom it has before bumping up against an arbitrary debt ceiling, while Apple’s cash reserve represents the pile of money the Cupertino, California-based company has available on its balance sheet..
Wait, Wait…there’as even more at http://business.financialpost.com/2011/07/28/u-s-balance-now-less-than-apple-cash/
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