As the government struggled to reach an agreement on raising the debt ceiling, the U.S. Treasury’s cash balance fell to $74 billion this week. That’s less than the $76 billion that Apple now has in cash. [...]
To be fair, comparing Apple’s cash reserves with the Treasury’s is not exactly apples to apples.
Apple’s billions are essentially the funds in its bank accounts, while the federal number represents the amount of money the government has left before it hits the legal debt limit — a figure that can be changed by Congress.
That was today’s Quickie. Was it good for you?