Apple has more cash than the us government

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.

Related posts:

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2. U.S. balance now less than Apple cash
3. Treasury: Apple Is Richer Than The US.
4. US Credit Rating Could Drop Even if Debt Deal Agreed
5. As U.S. Credit Downgrade Looms, Municipalities And Pension Funds

Tags: apple, Apple has more cash, federal government

Category: U.S. News