Apple has more cash than the federal government

Paul Sakuma (AP)

Who's ready for iAmerica?

As the BBC has reported, the software company 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 responsible for the iPad, iPod and the iPhone now has $76.4 billion in reserve cash, while the Treasury Department is sitting on just $73.7 billion.

The feds could probably learn a thing or two from Apple's success. Congress remains embroiled in a debate over spending and whether the federal government, which currently owes trillions in debt, should be allowed to borrow even more. 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 lift the $14.3 trillion debt ceiling while implementing a concrete plan to get the nation's financial house in order.

Meanwhile, Apple's financial report shows that the company's profits, even through the last recession, are booming.

iPhone alarm glitch leaves users fuming

AFP/File – The bells weren't ringing for many iPhone users this New Year's weekend, when thanks to a glitch …

NEW YORK (AFP) – The bells weren't ringing for many iPhone users this New Year's weekend, when thanks to a glitch the alarms on Apple's iconic mobile phones failed to go off, causing many to oversleep.

It was the second time in just a few months that the alarm function on the phone failed to activate correctly, prompting an avalanche of complaints on the social networking micro-blog Twitter.

"Dear iPhone, why didn't your alarm go off this morning? I set six of them. I've now missed church. Thanks for nothing," said one user Sunday morning.

"Some sort of digital iPhone pandemic is going on. Alarm clock failure reports are pouring in from all sources around the globe," said another Twitter user.

Apple said in a message sent to Macworld magazine that the California-based company was aware of the problem. "We're aware of an issue related to non-repeating alarms set for January 1 or 2," spokeswoman Natalie Harrison said.

"Customers can set recurring alarms for those dates and all alarms will work properly beginning January 3."

The problem seemed to be affecting Apple's most recent versions of iPhones and iPods launched in November, but website Engadget suggested that it may also have hit earlier versions.

The problem first occurred when the clocks went back at the end of October and early November when Australian and British iPhone owners complained of being late for work because their alarms had not switched over to the new time.

Apple did not immediately respond to a query from AFP on Sunday.