Folks in the White House should be taking notice, because Apple now has more cash on hand than the entire US government. That’s right, Steve Jobs is the new Uncle Sam.
Apple has an astounding $75.88 billion in cash, while the United States only has $73.77 billion. At least now the US has someone to borrow from besides China.
The Financial Post reports this news, and you can check the United States Treasury and Apple’s last earnings call to compare. Apple actually has more money than that compared to the US, considering the US “operating balance” only refers to the amount of money the country can spend before it hits the debt ceiling.
Apple can proudly say that it’s richer than one of the world’s largest and most powerful countries, and we’re not sure wether we should be happy or disturbed by that.