|
|
entry index
You think your checking account is in bad shapeThe Comptroller General of the United
States makes his report, and it is not good.
I didn't see this
one until this morning, odd how that worked out. This is direct from
the Comptroller of the United
States.
Because of the federal government’s inability to demonstrate the reliability of significant portions of the U.S. government’s accompanying consolidated financial statements for fiscal years 2006 and 2005, principally resulting from certain material weaknesses, and other limitations on the scope of our work, described in this report, we are unable to, and we do not, express an opinion on such financial statements. As a result of these limitations, readers are cautioned that amounts reported in the consolidated financial statements and related notes may not be reliable. These material weaknesses and other scope limitations also affect the reliability of certain information contained in the accompanying Management’s Discussion and Analysis and other financial management information—including information used to manage the government day to day and budget information reported by federal agencies—that is taken from the same data sources as the consolidated financial statements. I picked up some finance speak in my Corporate Clone days. Basically this translates to say that the CG doesn't trust the numbers in his own report and refuses to be held accountable for them, given the lack of any practical financial control in government spending. Granted, money is a convenient fiction anyway, but this may be taking things just a little far. If you really want to get depressed, look at the figures. Wonder if the new Congress will do anything about this? The usual political solution is to raise taxes, but that won't be enough. It is time to cut spending ruthlessly. If it were a company I would suggest liquidation. Hat tip to this article at Financial Sense University via Strike the Root. 
Posted: Fri - January 5, 2007 at 05:12 AM
|
 Pagan Vigil
Pagan philosopher, libertarian, and part-time trouble maker, NeoWayland watches for threats to individual freedom or personal responsiblity. There's more to life than just black and white, using only extremes just increases the problems.  My Thinking Blogger Nominees
Recent
Comments Search
Categories
Guest
Articles Interested in Pagan•Vigil hosting your articles? I'm always looking for tantalizing content that makes people think. Look here for details. E Pleb Neesta AdSense
Pagan Vigil assumes no responsibility for the advertisement content provided by Google, which is neither selected nor endorsed by NeoWayland.
NeoLinks
The News Right Now Radio Free Europe/Radio Liberty
Reason Magazine - Hit & Run Sunni Maravillosa and the Conspirators
Hammer of Truth Life, Liberty and the Pursuit of... Lady Liberty's Constitution Clearing House Law Enforcement Against Prohibition
no authority Center for a Stateless Society
Tammy Bruce.com Latino Issues: A Conservative Blog
The Nation
RealClimate
Papers, Please!
Letter from Hardscrabble Creek
You Are Not Alone A Big Idea from Eject! Eject! Eject! Fully Informed Jury Association World's Smallest Political Quiz Animated Introduction to the Philosophy of Liberty Institute for Liberty and Democracy
World of Ends 60 Second Refutation of Socialism, While Sitting at the Beach from Coyote Blog
World Religions - Religious Forums Ontario Consultants on Religious Tolerance
Who links to me? NeoBlogs
Books
Listmania - Liberty Basics 
Legal
All Guest Articles are © copyright by their respective authors for the date given and subject to the specific restrictions and permissions as stated in that article entry. Guest Article restrictions and permissions are specific to each article and may not be applied to another Guest Article.
Views and opinions expressed in Guest Articles do not necessarily reflect those of NeoWayland. Content from other sources is quoted under the fair use laws of the United States with clear reference to the source material. Unless otherwise noted, all other content at :
www.paganvigil.com Additional Redirect/Frame pages may be found at these web addresses:
members.aol.com/ If your web browser does not show one of these addresses, then this page being used without permission of the author. The views expressed by NeoWayland are his own and do not represent any other enity. NeoWayland freely accepts individual and sole responsibility for his words and actions.
XML/RSS Feeds
Statistics
|
