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Submitted: July 29, 2011 - 4:24pm
Originally published: July 29, 2011
Last updated: July 29, 2011 - 4:28pm
Originally published: July 29, 2011
Last updated: July 29, 2011 - 4:28pm
Source:
CNNMoney
Author:
Philip Elmer-DeWitt
Location:
Apple, 1 Infinite Loop, Cupertino, CA, 95014, United States
Unless the debt ceiling is raised by Tuesday Aug. 2, the White House keeps reminding us, the U.S. government will no longer be able to pay its bills.
But the U.S. Treasury is already running low. Its closing balance as of Wednesday, July 27, was $73.768 billion. To put that in perspective, Apple most recent earning statement shows that it was holding $76.156 billion in cash and marketable securities as of June 25.
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