Jul 29, 2011

Maybe Apple Can Raise The Debt Ceiling

America is going broke.  We've all watched as Democrats and Republicans waged econ-warfare on Capitol Hill for the past two weeks, each convinced they've got a better idea to solve this latest crisis before the looming August 2nd deadline.  If they don't come up with an answer, the U.S. will be unable to repay its debts or issue payment checks for things like Social Security.

Maybe they should ask Steve Jobs for a loan.

According to CNN, Apple now has more cash on hand ($76.2 billion) than America ($73.8 billion).  While the Apple number is certainly impressive, I was surprised at just how low the Treasury's cash total is.  Obviously I'm not an economist and I'm sure there's some terribly clever reason for our division of assets, but considering what I've been watching on the news all week, my faith is starting to waver.  As a former Apple employee, I find their success not at all surprising.  All their products are absurdly popular and in my year of employment at a local retail location, it seemed like the quarterly earnings and stock prices only ever went up.  Sadly, my paycheck did not, which is why I quit.


  1. It's an engineered crisis, designed by the Republicans to placate a bunch of extremist Tea Party jerks and to shame the President. Instead, it's tearing up the GOP and pushing our nation over the economic cliff. Ugh. /rant

    So what will Apple do with that cash? I was having this discussion with a few friends the other day. What's your take?