Posted on 12/23/2010 5:34:11 PM PST by tobyhill
It's official. The United States' financial projections are on such shaky ground that to audit them would be an exercise in futility.
In so many words, that was the conclusion of the Government Accountability Office this week as it threw up its hands when asked to issue an opinion on the Treasury Department's government-wide financial statements for 2010. The wonky watchdog office cited several problems with the government's numbers but particularly called out its projections on Medicare in explaining its ultimate decision not to release a decision.
Though projected Medicare savings were used to build the case for the Obama administration's health care overhaul, the GAO report -- rather, non-report -- declared "significant uncertainties" in those assumptions.
(Excerpt) Read more at foxnews.com ...
We are on our own.
Ain’t that the truth.
The list, ping
Let me know if you would like to be on or off the ping list
CBO Douglas Elmendorf
May 2010
“The United States faces a fundamental disconnect between the services that people expect the government to provide, particularly in the form of benefits for older Americans, and the tax revenues that people are willing to send to the government to finance those services,” Douglas Elmendorf, director of the non-partisan Congressional Budget Office, writes in a May 17 blog post.
GAO meets CBO
This insanity is the green light for even more government staff theft of tax payers money.
If the stockholders didn't pillory them first.
The more government does, the worse off we all are.
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