Apple has more cash in the bank than the US Treasury has

first_imgIf you’ve watched the news at any point over the past couple of weeks you can’t fail to have heard about the U.S. debt ceiling. If no compromise and agreement is reached by the U.S. government, that debt ceiling will be hit at some point next Tuesday.What has been pointed out yesterday afternoon is the unlikely comparison of the severity of the cash shortage compared to the success of U.S. company Apple. Apple now has more cash in the bank than the U.S. Treasury has left to spend. The totals sit at $73.768 billion for the Treasury and $75.876 billion for Apple.Apple is certainly in the better position as their total is actually money in the bank. The U.S. Treasury on the other hand has that amount of debt left to use–it’s a negative number.While the comparison is certainly an attention grabber, it does highlight that even in tumultuous economic times there are companies that can weather the storm and be successful. The U.S. government is going to be dealing with the economic crisis for many years to come, where as Apple is laser-focused on refining its products and getting everyone deciding to spend what little free cash they have on Apple gadgets and feeling good about it in the process.The good news for Apple looks set to continue. Their share price has gone past $400 and the future looks very positive, especially if the iPhone 5 does appear this year. Apple may even become the largest company on the planet one day. It currently sits in second place with a market capitalization of $363.35 billion, while Exxon Mobil is still top with around $417.166 billion.Read more at the Financial Postlast_img read more