Not that it should come as a huge surprise, considering how broke our government has been consistently reminding us it is, but FinancialPost.com reports today that Steve Jobs’s Apple Inc. officially has more spending money than Washington.
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The U.S. Treasury Department reports that the government has an operating budget of about $73.768 billion, and that’s assuming we don’t hit the debt ceiling next week. Apple, meanwhile, is operating with $75.876 billion in cash reserves.
Two guesses which is the financially safer bet this year.
FP.com also reports that Apple shares are selling for more than $400 apiece on the Nasdaq for the first time ever. The company altogether is worth somewhere in the range of $363 billion and change, making it the second largest company on earth after Exxon Mobil.
Personally, I take a lot of comfort in the fact that even after our economy dive bombs back into a crippling depression, there will still be quality, high performance computers, phones, and tablet devices that most of us will be way too poor to afford. Yay, thanks Steve Jobs!
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[U.S. balance now less than Apple cash]
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