Friday, July 29, 2011

Out Of Control Spending In Washington

It's worse than we thought. The out of control spending in Washington is so bad that Apple Computer has more money than the U.S. Government. Yes, that's right. Uncle Sam is so flat out busted that one private company has more cash on hand the the U.S. Treasury.

Apple currently has $74.4 billion in cash on hand, but the Treasury Department now has only $73.7 billion (as reported by the BBC).

How did Apple mange to accumulate a larger cash horde than the U.S. Government? Apple routinely, month in-month out, year in-year out, spends less than it takes in.

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