US budget, debt ceiling gridlock creates some strange, depressing tech problems
Given the current level of disarray and ineptitude of the elected officials in Washington DC right now this news probably shouldn’t be all that shocking: Apple with its $76 billion in the bank has more cash than the US with its almost $74 billion.
The news has prompted a variety of reactions.
More wacky news: 20 of the weirdest, wackiest and stupidest sci/tech stories of 2011 (so far!)
Fortune notes: “Since Apple takes in more money than it spends and the US government does the opposite, the company by now has considerably more cash on hand than Uncle Sam. Not that Apple could bail us out. At the rate the US spends money — more than $10 billion a day — Apple’s cash wouldn’t last two weeks.”
The Mac Observer writes: “Despite jokes claiming Apple is buying the United States, it looks like the government will have to keep moving forward on its own – although “United States of iMerica” does have a nice ring to it.”
And Digital Trends weighs in with this observation: “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 is doing a really good job at running itself, while the federal government is not.”
My Network World colleague, John Cox wrote today about another aspect of the disorder in the House. That is the current US debt reduction deadlock in Congress is already taking a toll on how much companies are spending on property, buildings and equipment, including computer hardware and software, according to a new survey by ChangeWave Research.
Nearly one-quarter of 1,632 corporate buyers involved in software purchases reported their companies have reduced their capital spending budgets. That’s a six-point increase compared to the previous quarter’s survey. And the percentage of those reporting an increase in capital budgets continued to decline: to 6%, from 10% the prior quarter.
Follow Michael Cooney on Twitter: nwwlayer8
Layer 8 Extra
Check out these other hot stories:
The IBM Selectric typewriter turns 50
NASA teams with Chevron to build energy exploration technologies
Confusing array of security job titles complicates Pentagon cyber warrior strategy
10 wicked off-the-cuff uses for retired NASA space shuttles
7 high-tech programs that want to pick your brain
Astronomers spot massive space reservoir holding 140 trillion times water in Earth’s oceans
DARPA program wants to corral zany social media into a science
Borg building: How does your overtaxed brain work?
US to let everyday drivers test advanced wireless auto safety technology
NASA sets up robotic satellite refueling experiment on International Space Station
Keyboards type out death knell for cursive writing?
Online Social Security Statement in limbo as agency adjusts for future
