Apple has more cash on hand than the United States federal government, according to the company's financial records. Apple's quarterly financial report shows that the company famous for its' iPad, iPod and iPhone now has $76.4 billion in reserve cash, while the Treasury Department is sitting on just $73.7 billion.
International credit rating agencies have threatened to downgrade the national debt for the first time in the nation's history if Washington doesn't come up with a solution to increase the $14.5 trillion debt ceiling while implementing a concrete plan to get the nation's run-away "spending” down.
Attention, Federal Government, how about a few lessons from one really successful company. Apple's financial report shows that the company's profits, even through the last recession, are booming. It's amazing what good management and sound financial principles can produce – like not spending $14.5 trillion more than you take in.