iUSA

By J. Thomas Duffy 

Well, if we see President Obama sporting a black turtleneck over the weekend, perhaps that will signal that Apple has purchased the U.S. Government.

 

U.S. balance now less than Apple cash 

Steve Jobs is now more liquid than Uncle Sam...

As Republicans and Democrats continue to work towards a compromise to the country’s debt ceiling crisis, the U.S. Treasury Department said on Thursday that Washington now has a total operating balance of only US$73.768-billion.

Meanwhile, Apple currently boasts a cash reserve of US$75.876-billion, as of its most recent quarterly earnings report at the end of June.

 

If that happens, I suppose, we'll all be mandated to purchase iPhones (which will help streamline the iLocater program), and changes will include download apps for things like Social Security and Food Stamps.

And Jobs can scratch the plans for building his new spaceship office, as, no doubt, he'll move straight into the White House, incorporating the Apple logo into the presidential seal. 

Welcome, to the good ol' iUSA!

(Cross-posted at The Garlic.)

This day in history - July 11, 1804: Former Secretary of the Treasury Alexander Hamilton is mortally wounded in a duel

By Richard K. Barry

The duel in question was between Hamilton and Vice President Aaron Burr. It took place on July 11, 1804, and Hamilton, having been shot in the lower abdomen above the right hip, died the next day.

The cause of the duel was, of course, some sort of affront to Burr's honor, which required that he receive what I think they called in the day "satisfaction." All in all, it ended badly for Hamilton.

I thought the item interesting this week in particular because Hamilton was the first United States Secretary of the Treasury.

I note that he was involved in 1790 in writing something called the First Report on the Public Credit, which analyzed the financial standing of the United States of America and made recommendations for the retirement of the national debt.

Hmmm. What advice would Hamilton offer our national leaders today on the debt ceiling as one who worked so hard to ensure that the debt and honor of his fledging country would be secured following the American Revolution and the debt incurred to conduct it?

I'll bet Glenn Beck could tell me.

(Cross-posted to Lippmann's Ghost.)