11:43am

Fri July 29, 2011
The Two-Way

In Perspective: Right Now, Apple Has More Cash On Hand Than Treasury

As of Wednesday, the Treasury reported it had $73.768 billion cash on hand. What the Obama administration has been saying is that that number will dwindle to a point where the U.S. will not be able to pay its financial obligations, unless it's allowed to borrow more money.

$73.768 billion sounds like a lot of money, but to put it in perspective, Apple Insider points out that in its third quarter earning's report, Apple said it had $76.156 billion in cash.

Philip Elmer-Dewitt of Fortune, however, puts it all in even greater perspective:

Not that Apple could bail us out. At the rate the U.S. spends money — more than $10 billion a day — Apple's cash wouldn't last two weeks.

Update at 1:44 p.m. ET. Apple's Third Quarter:

It's worth pointing out that, as we reported, Apple had a spectacular third quarter. The company more than doubled its year-ago earnings.

Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.