Jul 29, 2011
Maybe Apple Can Raise The Debt Ceiling
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.