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The company that brought us the Ipad, Iphone, Ipod and more, has more cash on hand than the federal government, once again proving the private sector is more efficient than the public. From BusinessInsider:
According to the latest daily statement from the U.S. Treasury, the government had an operating cash balance of $73.8 billion at the end of the day yesterday.
Apple's last earnings report showed that the company had $76.2 billion in cash and marketable securities at the end of June.
In other words, the world's largest tech company has more cash than the world's largest sovereign government.
That's because Apple collects more money than it spends, while the U.S. government does not.
Katie Pavlich
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| Katie Pavlich is the News Editor at Townhall.com. Follow her on Twitter @katiepavlich. She is also the author of Fast and Furious: Barack Obama's Bloodiest Scandal and the Shameless Cover-Up.
“ABSOLUTELY DEVASTATING! Intrepid investigative journalist Katie Pavlich rips the lid off Team Obama’s murderous corruption and anti-Second Amendment zealotry" says Michelle Malkin. "Katie Pavlich draws back the curtain on a radical administration that put Mexican and American lives at risk for no discernible reason other than to advance an ideological agenda." - David Limbaugh Buy Katie's book today and help us keep the pressure on Obama and his attorney general Eric Holder and expose the cover-up. |
