Posted on 01/13/2017 4:06:44 AM PST by IBD editorial writer
Fiscal Policy: Question: What do you call it when a major organization's financial statements are so deceptive and badly kept that even its auditor refuses to render an opinion? Answer: The federal government.
That's right, the U.S. Government Accountability Office (GAO), the federal government's accountant, refused to hand down an opinion of the federal government's financial statements for 2016 "due to deficiencies that have plagued prior financial statements — persistent financial management problems at the Department of Defense (DOD), the government's inability to account for and reconcile certain transactions, an ineffective process for preparing the consolidated financial statements, and significant uncertainties."
No question that, just like Enron, if this happened in the private sector, the executives in charge would either be fired or tried for fraud, and the shareholders would suffer major losses. But U.S. taxpayers pay little attention to the problem since they don't know how bad it really is. And the sad thing is, no one does.
The Department of Defense, the Department of Housing and Urban Development, and the Department of Agriculture were all singled out by the GAO for criticism over their financial management.
(Excerpt) Read more at investors.com ...
Missed it by half hour
I have said that FOR YEARS!
“just like Enron”
There has been no audit for the $6 Billion missing from State. Why would this NOT raise a red flag. There has been $Millions going to Obamas Foundations for “future: programs in Africa. Does anyone with an IQ over 50 believe this money is not stolen? Obama has paid exhorbitant amounts of money to Iran. How and where did he get this cash? No one seems to bother and the Media claims there are funds set up for these situations. So where are the books and who monitors these funds?
It is all a sham to steal as much money as possible. I bet the $100 Million for Obamas vacations are 50% kickbacks. No body spends that kind of money without receipts. Watch a film called Brewsters Millions with Richard Pryor.
As long as there is paper and ink Washington will be solvent
As long as there is paper and ink Washington will be solvent
Bkmk
You don’t even need that anymore.
A 1200 baud modem and a 1980’s personal computer is all you need. That and a keyboard that has “0”s and “$” keys working.
As a businessman, Trump will hire every accountant in the nation if that’s what it takes to get to the bottom of this.
Didn’t hear him say that... I hope it’s not wishful thinking on your part.
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