The latest report of the United States Treasury on cash and debt operations put the country's cash balance at $73.7 billion, but Apple's reserves are currently $76.4 billion, the state-run BBC reported on Friday.
The United States is currently spending around $200 billion more than it collects in revenue every month.
However, Apple's market is growing at a tremendous rate. For example, in the three-month period ending on June 25, its net income was 125 percent higher than the same period in the previous year.
The US debt ceiling is currently capped at $14.3 trillion, up from $10.6 trillion when President Barack Obama took office in 2009, and the administration says that if it is not elevated by August 2, the government will default on its obligations.
But, economists say that if the United States refuses to increase its debt limit, it could be devastating for the US and other economies around the world.
NOTE: No wonder I'm lousy at accounting. Let's see US debt of $14 trillion +.- and cash "balance" is still a negative using my method. Guess, I don't understand Accounting USA
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