retail news in context, analysis with attitude

by Kevin Coupe

With all the debate, accusations and recriminations taking place in Washington, DC, these days as they debate the debt ceiling and the broader economic crisis, here’s a note from Business Insider that is a definite Eye-Opener.

According to the story, the US Treasury’s latest daily statement says that the government yesterday had an operating cash balance of $73.8 billion.

Compare that to Apple’s last earnings report, which said that the iconic company had $76.2 billion in cash and marketable securities on hand at the end of June.

“In other words, the world's largest tech company has more cash than the world's largest sovereign government,” Business Insider writes.

Of course, there’s a good reason for that: “Apple collects more money than it spends, while the U.S. government does not.”

Yikes.
KC's View: