Apple has more cash on hand than the United States federal government
We really don’t know if Apple have planned of iAmerica? As the BBC has reported that the Cupertino-based company has more cash the U.S. federal government based from the company’s recent financial reports. Accordingly, Apple has $76.4 billion in reserve cash on hand coming from their booming business (even on recession) of dishing out massive numbers of iPhone, iPad and iPod sales worldwide while the Treasury Department is sitting on just $73.7 billion.
YahooNews reports that from this Apple success, the Federal should learn something from the company.
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.