Image by David Neubert
It’s hard not to turn on the news without hearing the dire situation the U.S. economy faces. From pundits to newsmen to comedians, everyone’s chatting about it. However, it’s a tad hard to get one’s head around the idea of how bad things really are.
The folks at CNN get that, and are here to depress you further. It seems the US government has less “cash on hand” than Apple.
But the U.S. Treasury is already running low. Its closing balance as of Wednesday, July 27, was $73.768 billion.
To put that in perspective, Apple (AAPL) most recent earning statement shows that it was holding $76.156 billion in cash and marketable securities as of June 25.
Since Apple takes in more money than it spends and the U.S. government does the opposite, the company by now has considerably more cash on hand than Uncle Sam.
Of course, that doesn’t include the U.S. or Apple’s investments, nor does it include debts.
It’s true that Apple is a company, with a goal to make money and beholden to stockholders. In contrast, while the US is absolutely beholden to it’s own “shareholders”, the goals are a tad more abstract.
Regardless, it kinda blows your mind.
Comments are closed.