According to The Financial Post, Apple has more cash on hand than the United States Treasury.
Allow me to repeat: more cash on hand than the United States Treasury.
The Treasury Department said Thursday that it has an operating balance of $73.768 billion, compared with the $76.156 billion in cash that Apple recorded on its latest earnings report.
I find this scary.
In all fairness, the numbers aren’t directly comparable, since the Treasury’s number represents how much money the government has before hitting the debt ceiling, while Apple’s cash holdings represent all the money it has available on its balance sheet.
The thing is . . . Apple also actually sees profits and spends its money at a much lower rate than the government.
I am no economist, but something seems out of line here. Should Bill Gates be President? Would he take a big bite out of the annual welfare budget, or lean toward rampant mosquito-netting and AIDS-researching with our tax dollars?
I read this morning that Florida will now require drug testing for prospective welfare recipients. I like that.
Not everyone does.
Shortly after the bill was signed, five Democrats from the state's congressional delegation issued a joint statement attacking the legislation, one calling it "downright unconstitutional."
"Governor Scott's new drug testing law is not only an affront to families in need and detrimental to our nation's ongoing economic recovery, it is downright unconstitutional," said Representative Alcee Hastings. "If Governor Scott wants to drug test recipients of TANF benefits, where does he draw the line? Are families receiving Medicaid, state emergency relief, or educational grants and loans next?"
Representative Corrine Brown said the tests "represent an extreme and illegal invasion of personal privacy."
Huh?
I am starting to pay much more attention to the national political landscape now. 2012 should be interesting, whether you anticipate the End of Days in December or a Republican Back in the Oval Office.
Love from Delta.
Hard changes HAVE to happen. There are going to be plenty of unhappy people along the way. The only reason a politician would be unhappy is if the cuts are cutting into his take. I posted a remedy someone suggested the other day: any time the budget is not balanced, any politician involved in said unbalanced budget would not be eligible for re-election. Only problem is that these same politicians would have to pass that law.
ReplyDeleteYes, I LOVED Warren Buffett's remedy. As you said, though, the scoundrels will never pass THAT legislation. You're not gonna see serious tort reform or the Fair Tax for the same reason.
ReplyDeleteLove the blog Beth....we need to talk. Why don't some of these companies with all that money invest in the good ol USA and buy China debts back and let the USA pay back the loans at a lower rate and save us the embarrassment of this issue in the first place. As for drug testing the people on welfare,I think they ought to test all people on government checks at random. We get tested on a regular job so why not on the tax money generated from that money? Unless you have a prescription for that drug,it shouldn't be in your system. I have worked for about 30 years and then get shot on the job by one of these drug taking punks and now my tax money is housing them for their crime. Further more,I am having to go through so much red tape to get my disability benefits for this accident I didn't create that I will probably be dead and gone by the time the government gives me back the money I have paid in for the last 30 years. Why does people think banks are getting robbed now......we want our bailout money back......we need bailed out too. Try and get a loan with a bank that was given the bail out money and they laugh at you. Robbery or payback???? Beth,good article but like I said,we need to talk issues.
ReplyDeleteGlad you liked the blog. If you post anonymously, please leave your name so I'll know who you are! Thank you for reading and commenting - I truly appreciate it.
ReplyDeleteBeth....I am the 2nd anonymously....my name is Larry Patterson.
ReplyDeleteThank you, Larry, and welcome!
ReplyDelete