http://business.financialpost.com/2011/07/28/u-s-balance-now-less-than-apple-cash/
Matt Hartley Jul 28, 2011 â 4:56 PM ET | Last Updated: Jul 28, 2011 5:29 PM ET
Steve Jobs is now more liquid than Uncle Sam.
While itâs highly unlikely that President Barack Obama is looking to ask the founder and chief executive of Apple Inc. for a loan, it became a fact as of Thursday afternoon â the worldâs largest technology company now has more cash on hand than the most powerful democracy on Earth has spending room.
As Republicans and Democrats continue to work towards a compromise to the countryâs debt ceiling crisis, the U.S. Treasury Department said on Thursday that Washington now has a total operating balance of only US$73.768-billion.
Meanwhile, Apple currently boasts a cash reserve of US$75.876-billion, as of its most recent quarterly earnings report at the end of June.