Posted on 07/29/2011 6:19:36 AM PDT by Sub-Driver
Apple holding more cash than USA
Apple now has more cash to spend than the United States government.
Latest figures from the US Treasury Department show that the country has an operating cash balance of $73.7bn (£45.3bn).
Apple's most recent financial results put its reserves at $76.4bn (£46.9bn).
The US House of Representatives is due to vote on a bill to raise the country's debt ceiling, allowing it to borrow more money to cover spending commitments.
If it fails to reach an agreement, the federal government is likely to hit its $14.3 trillion (£8.7tn) dollar limit.
The United States is currently spending around $200bn (£122bn) more than it collects in revenue every month.
Apple, on the other hand, is making money hand over fist, according to its financial results.
In the three months ending 25 June, net income was 125% higher than a year earlier at $7.31bn (£4.6bn).
(Excerpt) Read more at bbc.co.uk ...
are you kidding?
have you been in an Apple store?
it’s like Whole Foods...
hipster liberals everywhere....I don’t even like to walk by them
I don’t see this as “embarrassing” at all. It’s good news, the triumph of technology over bureaucracy. Let’s engineer a quick takeover by Apple before it becomes too late, as it was with Borders Books.
1. Taxes will be slightly higher for the iGov, but people will pay willingly because service will be so much better. Each taxpayers will be issued little translucent Apple stickers, which can be proudly attached to your Lexus and worn on your T-short at Starbucks.
2. The capital will be moved to Cupertino, where it belongs.
3. You will be able to renew a passport with one click through the iTines Store. You won’t even have to trek to the big city to get those special-format pictures taken, because iTunes will take a snapshot as part of the application, using the built-in iSight in your MacBook.
4. There will be no more standing in line at the Post Office, which will be replaced with Mobile Me accounts for everyone.
5. The Pentagon can now be abolished, because when we go to war with anyone, we will just file a patent suit against the enemy in Marshall, TX, and declare their assets to be ours.
6. Instead of Social Security, each retired person gets a job at the nearest Genius Bar, with medical benefits.
7. After an initial period of controversy, the SCOTUS will rule that the establishment clause allows Windows users to be married in all states.
Only 7 items? 3 short of of top 10? (Honestly, I could have gone to 100 - great stuff).
Personally, I think the idea of trademarking "appstore" is insane, but given the fantasy world that the drones in Washington live in these days, anything is possible.
Little Johnny’s piggy bank has more cash in it than the United States government.
Just Democrats.
You can thank Obama and the Democrats.
FIRE the Democrats and hire the Apple geeks!
They make money the old-fashioned way, they earn it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.