It is a well known fact that Apple Inc. has cash reserves more than any other company but the fact that it is even richer than the United States Government is absolutely fantastic.
Recently Apple announced that its earnings have reached $76 billion due to large sale of its iDevices. The iPhone and the iPad are the most popular products of the Cupertino, California based company.
On the other side, as the deadline to the US debt approaches close, the Treasury Department of United States Government has reported that its bank account has even less than $74 billion and could become zero by early August.
This only shows that the American government and the Corporate America are two worlds apart. While the corporations continue to grow and their combined profits accumulate around $1.2 trillion, the government consistently has lost its cash reserves and its debts are increasing day by day.
According to Apple, these cash reserves will help the company to secure its future as it will ensure that they do not run into any financial trouble like the company had to face during the launch phase of the iPhone 4.
So, should American government start selling the iPhone and the iPad or should Apple take over the running of Washington DC?