REVscene Automotive Forum - Apple has more money than the US Federal Government

REVscene Automotive Forum (https://www.revscene.net/forums/)

- Vancouver Off-Topic / Current Events (https://www.revscene.net/forums/vancouver-off-topic-current-events_50/)

- - Apple has more money than the US Federal Government (https://www.revscene.net/forums/650714-apple-has-more-money-than-us-federal-government.html)

Apple has more money than the US Federal Government

Apple has more money than the US government - Yahoo!

Quote:

Here’s a frightening statistic: Apple Inc. now has more cash on hand than the entire United States federal government. As of Wednesday, July 27, the balance sheet for the US Treasury dipped down do $73.768 billion. That compares to the $76.156 billion Apple has in its deep coffers — a difference of $2.388 billion.
So, how in the name of all that’s good and fiscally responsible in this world did such a thing happen? A wide variety of individual factors are at play, here, of course. But it comes down to one basic fact: Apple makes more money than it spends while the US government spends more than it generates in tax revenue. In other words, Apple is doing a really good job at running itself, while the federal government is not.
As you all surely know by now, Washington is stuck in a relentless gridlock over how to raise the national debt ceiling. If you haven’t yet grasped the debt ceiling debate is, it works something like this: Imagine the entire US government pays its bills with a single credit card. Right now, that credit card is nearly maxed out. If the debt ceiling — the limit on our national credit card — isn’t raised by August 2, then the US won’t have enough incoming revenue to pay all of its bills.
The politicians disagree on how to go about fixing this problem, so they’re let our cash coffers dwindle perilously low, which is basically how we got to the $73.768 billion number.
On the flip side, Apple is doing extraordinarily well. The iPhone maker brought in record profits in the third quarter of this year, about $5.5 billion, which has possibly set the Cupertino, California-based electronics giant on a path towards soon overtaking Exxon Mobile to become the largest corporation on the planet.
Unfortunately, we can’t ask Steve Jobs for a bailout — according to Fortune, the federal government blows through about $10 billion every day, so even Apple’s fat bank account would only last us about a week before we’d be back to square one.
Still, we can’t help but wish Jobs would consider a run for public office.

walmart too? prolly also ibm?
Posted via RS Mobile

it has more pocket change.. it doesn't have more money :)

Bill Gates is richer than US Federal government.

Quote:

The Federal government now has only $54 billion in cash in the bank.

That’s $2 billion less than the net worth of Bill Gates, as frequent BI commenter @ComfortablySmug points out on Twitter.

Ouch.

People had been writing that the US’s cash balance had gotten so bad that it was less than some companies. Now it’s so bad that it’s less than some people.

Terrible, terrible. It just goes to show that Congress needs to get its act together now and raise the debt ceiling.

Microsoft Co-Founder Bill Gates Now Richer Than US Government | Redmond Pie

Well... in a couple of days the majority of us will have more cash than the US government.

Quote:

Originally Posted by 97ITR (Post 7529749)

Well... in a couple of days the majority of us will have more cash than the US government.

It will never happen.

Just a bunch of drama created leading to an 11th hour solution to impress the masses before another election.

I wish I had to worry about having only 54 billion on the bank. Damn!

Damn, imagine how ballin' you would be!

Not sure why this is surprising. Corporations have had more power than the government for a long time now.

If you consider assets and debts combined, I think starving African children are actually wealthier than the US government.

It's the corporations that run the country, not the Federal government.

its absolutely not hard to believe that Apple has gotten to that status with the mass pandemic of apple products everywhere. Literally. Who here doesn't own one, or know someone who does???

Ther'es quite a bit of companies that has more money reserves the Apple.
They only used Apple, well...because it's apple.

But the comparison is apples to oranges.

1st world problems. :\ :whine:

Apple doesn't have obama wasting it's profits.

Quote:

Who here doesn't own one, or know someone who does???

I don't own any apple products. It's not hard to find cheaper and better alternatives. now u 'know' someone who doest :)

Quote:

Originally Posted by shenmecar (Post 7529866)

Who here doesn't own one, or know someone who does???

I don't, used to have a nano (gift) but didn't use it since i just used my phone and gave it away

but of course who wouldn't know someone who owns apple products unless you're a hermit and even then a family member would own one

better question is do you know anyone else who doesn't own an Apple product? and the answer to that is, yes, quite a few

Quote:

Originally Posted by Gt-R R34 (Post 7529990)

Ther'es quite a bit of companies that has more money reserves the Apple.
They only used Apple, well...because it's apple.

But the comparison is apples to oranges.

no. in terms of actual profit apple is #2 on the fortune 1,000 behind walmart. that was in 2010. ibm was #3. in terms of profits, not revenues...their margins are crazy.
Posted via RS Mobile

Quote:

Originally Posted by zulutango (Post 7530057)

Apple doesn't have obama wasting it's profits.

you mean apple doesn't have obama cleaning up bush's mess and get blamed for it by republicans

Quote:

Originally Posted by drunkrussian (Post 7530212)

no. in terms of actual profit apple is #2 on the fortune 1,000 behind walmart. that was in 2010. ibm was #3. in terms of profits, not revenues...their margins are crazy.
Posted via RS Mobile

You should probably read that list again.... Here's 2010 top 10 fortune 500 companies ranked by profit.

1 Exxon Mobil 30,460.0
2 AT&T 19,864.0
3 Chevron 19,024.0
4 Microsoft 18,760.0
5 J.P. Morgan Chase & Co. 17,370.0
6 Wal-Mart Stores 16,389.0
7 International Business Machines 14,833.0
8 Apple 14,013.0
9 Johnson & Johnson 13,334.0
10 Berkshire Hathaway 12,967.0

Soure: Fortune 500 2011: Top Performers - Most Profitable Companies: Profits

^ Yeah, but that's 2010 profits where Apple made $14 billion.

Apple is already at $13.3 billion profits and that's after only two quarters. They won't hit $30 billion to take over Exxon, but I could see them landing firmly in the #2 position at year's end.

What I was saying they used Apple to compare. It's just cuz apple is apple.
If they really wanted to compare. GE is sitting on 90Billion, why not use them?

My point was there are more then 1 company with more money then the US Government..

Because the coolest thing about GE is that Alec Baldwin is their fictional boss on a popular primetime TV show.

Apple is Apple...and will sell more newspapers.

Quote:

Originally Posted by cow20xx (Post 7530277)

you mean apple doesn't have obama cleaning up bush's mess and get blamed for it by republicans

How about a debit of 10 trillion when he took over (the total debit of all US Govts since the country formed) and 14 trillion and counting now in 2 1/2 years. Can't blame W for that 4 trillion...obama owns this one.

Quote:

Originally Posted by zulutango (Post 7530892)

had nothing to do with the entire world economy collapsing based on several years of bad shit leading up to it.