Apple has more cash than the US federal government
By Chris Moody | TheTicket
Whos ready for iAmerica?
As the BBC has reported, the software company Apple has more cash on hand than the United States federal government, according to the companys financial records.
Apples quarterly financial report shows that the company responsible for the iPad, iPod and the iPhone now has $76.4 billion in reserve cash, while the Treasury Department is sitting on just $73.7 billion.
The feds could probably learn a thing or two from Apples success. Congress remains embroiled in a debate over spending and whether the federal government, which currently owes trillions in debt, should be allowed to borrow even more. International credit rating agencies have threatened to downgrade the national debt for the first time in the nations history if Washington doesnt come up with a solution to lift the $14.3 trillion debt ceiling while implementing a concrete plan to get the nations financial house in order.
Meanwhile, Apples financial report shows that the companys profits, even through the last recession, are booming.
Article from: news.yahoo.com
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