ANCHOR: JIM FLINK

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I pledge allegiance to the United States of... Jobs? Well, if you’re thinking with your wallet, you just might. The news being reported all over the web is: Apple has more cash on hand -- than the US government.

The story is racing across the Internet, and with the debt ceiling vote looming, it has outlets reporting some pretty interesting facts. TechCrunch compares spending power...

“There are several companies that Apple could buy right now that the government could not... If the U.S. defaults, Apple will also likely have much better credit than the government does." 

Now before we start calling Cuppertino for handouts, it’s important to understand the numbers. Currently Uncle Sam has $73.7 billion on hand, while Uncle Steve has a touch under $76 billion.
Impressive, yes- but Financial Post clarifies the totals.

“The numbers aren’t directly comparable; the government’s number represents how much financial headroom it has before bumping up against an arbitrary debt ceiling, while Apple’s cash reserve represents the pile of money the Cupertino, California-based company has available on its balance sheet." 

With a GDP somewhere North of $14 trillion, the U.S. government is still playing in a much bigger league than Apple. But even if it’s in the minors compared to major nations, the BBC says the tech company could teach the government a thing or two about cash.

“The United States is currently spending around $200 bn more than it collects in revenue every month. Apple, on the other hand, is making money hand over fist, according to its financial results. In the three months ending 25 June, net income was 125% higher than a year earlier at $7.31 bn.”

And as far as their league is concerned, Apple is running the show. According to the International Business Times...

“Apple is the largest smartphone vendor surpassing Samsung and Nokia not only in terms of revenue, but also in volume accounting for 18.5 percent of the smartphone shipments in the second quarter... Apple’s stock price recently went up to $400”

With the jump to $400 per share, Apple’s market cap has reached $363 billion, making it the second largest corporation -- in the world.

If you’re wondering just what they could do with all that money, here are a few things. They could: Give an iPad 2 to every person in Japan and Taiwan, Send every Apple employee into space seven times, or buy every MLB, NFL, NHL, and NBA franchise. Oh and with that last one, they’d still have about $25 billion left over for the concession stand.

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Transcript by Newsy.