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Apple Has More Cash Than U.S. Government

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Apple Has More Cash Than U.S. Government

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Steve Jobs Pitches Move to Cupertino City Council

Steve Jobs, CEO of Apple, Inc showed up at a Cupertino City Council meeting to pitch his plans for a state-of-the art headquarters that looks like a futuristic spaceship of glass and steel. Cupertino City Councilman Orrin Mahoney joins Colleen Williams live from San Francisco on Nonstop News LA.
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Perhaps Uncle Steve can float Uncle Sam a loan, at least until this whole debt ceiling thing gets worked out.

That's because Apple now has more money than the United States' Treasury.  

Business Insider reports that as of yesterday, the Treasury was operating on a balance of $73.8 billion

Apple's last earnings showed the company had $76.2 billion in cash and marketable securities at the end of June.

That means Apple has more cash than the largest sovereign government in the world.

Maybe Apple should become their own country.  It would probably be pretty, virus-free, and easy to get around. On the downside, it would probably be way too expensive to live there.

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