Apple Has More Cash In Hand Than The USA
Do you own an iPhone, iPod, iPad, a Mac Computer or any product with the official Apple logo on it? Chances are, you do. Apple is pretty big company, but are they bigger than the entire country that we call America? Well, according to the latest figures from the US Treasury Department they are.
The figures show the country currently has an operating cash balance of $73.7 billion dollars. Apple’s most recent financial results puts its cash reserves at $76.4 billion. The hot topic on every news station over the last month has been the issue with America’s debt ceiling.
The US House of Representatives is due to vote on a bill to raise the country’s debt ceiling, allowing it to borrow more money to cover spending commitments.
If it fails to extend the current limit of $14.3 trillion dollars, the federal government could find itself struggling to make payments, and risks the loss of its AAA credit rating.
Right now, the US is currently spending around $200 billion more than it collects in revenue every month while Apple, on the other hand, is making money by the truckload.
Don’t believe me? See how far and long you can go in your day without seeing one of Apple’s over-expensive unnecessary iThingys.