Technology giant Apple has more cash on-hand than the United States government.
According to recent financial tallies, the house that Steve Jobs built holds nearly $76 billion in liquid currency, thanks to brisk sales of the iPhone, iPad and iPod touch, and celebrated Mac line of computers. But per the U.S. Treasury department, as of last week, the world’s most powerful democratic nation only has a total operating balance of $73.768 billion, compared to Apple’s war chest, pegged at $75.876 billion.
Contentious as Democrats and Republicans’ efforts to stymie the debt crisis have been, with Apple shares recently trading above $400 for the first time in history, it makes you wonder. Perhaps all that pesky teeth-gnashing and mud-slinging might have been avoided if both sides had just hired better stock brokers.