Apple Has More Cash Than The U.S. Government

Perhaps the United States 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.

Well that’s party because Apple sells stuff that people actually want to buy.

 

FILED UNDER: Deficit and Debt, Economics and Business, Quick Takes, US Politics
Doug Mataconis
About Doug Mataconis
Doug holds a B.A. in Political Science from Rutgers University and J.D. from George Mason University School of Law. He joined the staff of OTB in May 2010. Before joining OTB, he wrote at Below The BeltwayThe Liberty Papers, and United Liberty Follow Doug on Twitter | Facebook

Comments

  1. PD Shaw says:

    That’s some nice operating cash you’ve got there, Mr. Jobs. (cracks knuckles) It would be a shame if something happened to it.. Youse got a wife and kids? Nice. Well, you see we’re from the government and we’re here to help you.

  2. sam says:

    Uh, just curious, but does the gold in Fort Knox count as cash-on-hand? (It’s worth about $228 billion.)

    BTW, here’s a neat idea from Jake Balkin (via Matt Yglesias):

    Sovereign governments such as the United States can print new money. However, there’s a statutory limit to the amount of paper currency that can be in circulation at any one time.

    Ironically, there’s no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds. [Source]

  3. michael reynolds says:

    Isn’t “some” always more than “none?”

  4. Abir Mandal says:

    Perhaps the govt should stop selling anything. period. Get out of GM, get out of real estate loans and get out of insurance. Let the private sector take care of us. I trust Apple to give me a product that I would enjoy rather than a bunch of Bureauweenies with no skil.

  5. An Interested Party says:

    Perhaps the govt should stop selling anything. period. Get out of GM, get out of real estate loans and get out of insurance. Let the private sector take care of us. I trust Apple to give me a product that I would enjoy rather than a bunch of Bureauweenies with no skil.

    Oh absolutely! Let the government also get out of the old age insurance business, the medical insurance business, the regulation and inspection of food, medicine, etc. business…I’m sure doing all of that would thrill the Tea Party crowd…well, except for those that depend on Social Security checks every month and Medicare coverage when they go to the doctor/hospital…oh, and if a few people die from bad meat or bad medicine, well, that’s just gravy…

  6. michael reynolds says:

    @An Interested Party:
    Damn it, IP, don’t you understand? Steve Jobs will pay for medical care for old people. Because magic. That’s why. Magic!

  7. anjin-san says:

    Hey buddy, keep your damn government hands off my Medicare!

  8. OzarkHillbilly says:

    Well that’s party because Apple sells stuff that people actually want to buy.

    Not to mention the fact that Apple doesn’t have to, you know, govern?

    Well, you see we’re from the government and we’re here to help you.

    “Yep, yep!!! And my campaign coffers are a little low. If you give me a few hundred thou I can see to it that you get all the things you need to continue doing business, without ever having to pay for any of it!”

    Finished that for you PD.