Apple now has more cash than the U.S. government

CalusaCalusa Posts: 11,881 Officer
(CNN) -- Maybe the cash-strapped U.S. government should start selling iPads.

According to the latest statement from the U.S. Treasury, the government had an operating cash balance Wednesday of $73.8 billion. That's still a lot of money, but it's less than what Steve Jobs has lying around.

Tech juggernaut Apple had a whopping $76.2 billion in cash and marketable securities at the end of June, according to its last earnings report. Unlike the U.S. government, which is scrambling to avoid defaulting on its debt, Apple takes in more money than it spends.

This symbolic feat -- the world's most highly valued tech company surpassing the fiscal strength of the world's most powerful nation -- is just the latest pinnacle for Apple, which has been on an unprecedented roll.

U.S. debt: How did we get here? Its Macs, iPhones and iPads remain hot sellers, its stock has surged past $400 a share and Apple just became the world's largest smartphone vendor by volume.

There's been a lot of speculation about what Apple might buy with its piles of cash -- Facebook and Sony being two of the more high-profile examples -- but the company doesn't seem to be in any hurry to make a move.

"We don't let the cash burn a hole in the pocket or make stupid acquisitions," CEO Jobs said last fall. "We'd like to continue to keep our powder dry because we think there are one or more strategic opportunities in the future."

Offering Uncle Sam a short-term loan is probably not one of them.

Replies

  • CalusaCalusa Posts: 11,881 Officer
    If the US government sold iPads the price would be around $2,000, and cost about three times that to make ......
  • reelpleasurereelpleasure Posts: 754 Officer
    Don't let Obomer find out.
  • AbelmanAbelman Posts: 1,853 Captain
    That's what happens when you make more than you spend for Apple. The government, just the opposite. Spend more, take more.

    The bigger problem is, the Government does't make anything. It just takes it and then spends some more.

    Hell, look at the post office. The only government agency I know of where we all have to pay into every day (outside of taxes), they're under water and facing huge deficits. But, private entrerprise is doing fine and knows how to make money for less of a consumer price. Look at FedEx, UPS in that regard. Just get rid of them and let private enterprise do it for less and more effeicently.

    End of the day, it's always easier to spend someone else's money until it runs out. I think we're pretty much getting to that point.
    "Some people spend an entire lifetime wondering if they made a difference. The Marines don't have that problem" Ronald Reagan 1985
  • WaterEngineerWaterEngineer Posts: 24,415 AG
    Calusa wrote: »
    If the US government sold iPads the price would be around $2,000, and cost about three times that to make ......

    ........and they wouldn't work.
  • GJBenn85GJBenn85 Posts: 1,364 Officer
    If the U.S. government was run like a for-profit corporation rather than two idiotic political parties always opposing each other, we would be much better off. Tell the mooch citizens of this country to get off their lazy a**es and get real jobs rather than sucking off the teets of those that actually contribute to society.
  • PotholePothole Posts: 1,368 Officer
    GJBenn85 wrote: »
    If the U.S. government was run like a for-profit corporation rather than two idiotic political parties always opposing each other, we would be much better off. Tell the mooch citizens of this country to get off their lazy a**es and get real jobs rather than sucking off the teets of those that actually contribute to society.

    Alright, we'll have none of that logical thinking here. You should be ashamed...
  • CalusaCalusa Posts: 11,881 Officer
    It is simply impossible to comprehend how a government can tax its citizens in every way imagineable, squeeze every penny from us that it can, yet end up broke and with a colossal debt to boot. If people don't wake up and start voting for the right people we will not last very much longer. The Chinese and other nations are eating our lunch and we're serving it to them on a silver platter.
  • GJBenn85GJBenn85 Posts: 1,364 Officer
    How can you elect the "right people" when a majority of the voting population are imbeciles?
  • Joey ButtonsJoey Buttons Posts: 11,849 AG
    We need a libertarian in the white house
  • coldaircoldair Posts: 11,498 Officer
    ever go to the apple store? the employees are all friendly, and working, that would never go over in government
    169304.GIF
  • King_MeKing_Me Delray Beach, FLPosts: 5,773 Admiral
    And I almost pulled the finger buying the stock at less than $5.00 a few years ago :banghead
  • captinmitchcaptinmitch Posts: 5,807 Admiral
    You might get another shot like that. Groupon has filed for it's IPO. On paper, it's bleeding worse than a gutshot pig, but every now and then one of these computer/internet stocks works out to be a grand slam. Might be worth a taste depending on where they come out.
  • MenziesMenzies Posts: 19,289 AG
    So he compared the government's cash to Apple's cashAND marketable Securities?
    Maybe if we tell people that the brain is an App, they will start using it.
  • Mango ManMango Man Posts: 11,108 AG
    Hell, I have more cash than the US Government.


    America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.
    Abraham Lincoln
Sign In or Register to comment.