Posted on 01/04/2014 7:30:42 AM PST by Innovative
The financial position of the U.S. is not just troubled; it is artificially created to fool the people.
The nation's budget deficit and debt are exponentially higher than what our politicians say they are. None of the headline figures used as the basis of public discourse have any relevance to the true state of U.S. finances.
The government's financial reporting is misleading because our political leaders have subverted the democratic process to advance their personal interests.
Adding all of the costs associated with the nation's social-insurance programs to the amounts reflected in the Financial Report shows that over the past decade the federal government effectively spent more than $88 trillion, while its revenues totaled a little over $22 trillion. The government pretends that obligated money is not spent until the future arrives; a legally correct accounting must accrue for those future payments.
In June 2012, the Supreme Court ruled that the Medicaid expansion in the Affordable Care Act was unconstitutional. But each of the opinions issued contained economic and political analysis based on the government's false financial information. The court should reopen the case to apply the rule of law and restore needed accountability.
(Excerpt) Read more at online.barrons.com ...
I am going to add a link to it on my FR page.
This line did stand out, to me, though.
The government's {financial} reporting is misleading because our political leaders have subverted the democratic process to advance their personal interests.
Regardless the type of gov't report, this statement would apply.
I got there from Google News and could see the whole article — maybe you can try copying and pasting the link (to Google News) then click on the article from there:
Unfortunately, can’t read more than the first half paragraph unless you are a subscriber..
See the link inmy post 3 — it takes you to a search in Google News with the link to this article on top, and you should be able to get there. It is worth the trouble.
Darn, I can’t get to either link.
Here’s an article with the gist:
http://www.fordham.edu/campus_resources/enewsroom/archives/archive_2285.asp
Nope that just brings up a search page, and no telling how many pages you would have to go through to find the article.
It sure isn’t on the first one.
Odd, it was the first article on my search, when I did a search in Google News for “accounting government cost”
I hate it when they do that...
When I paste my extremely long link into a new browser window I bring up, it is the first article on top.
That’s really too bad they make it so hard for people to read the article — they should be handing it out to everyone, since even reasonably well informed people aren’t aware of it.
Yep.
Thank you for posting at least part of it.
OK, I refreshed the page with the long google link you provided, with my script blocker turned off, and got the link you used to Barrons, third one down...
But it still requires a subscription.
Thanks for trying.
The situation is beyond bad when liberal law prof Jonathan Turley tells a House committee of the extreme danger posed by two sets of laws, one for the rulers and one for the ruled.
Maybe Sen Cruz or Lee will bring the questions/issues raised in this article to the forefront.
Same issue here. I would love to read the whole article, but I just can’t seem to get anything more than the first half paragraph.
Your link on post 3 worked for me. It is the first search hit and allows viewing the entire article.
Thank you.
Thanks for letting me know.
I couldn’t figure out why it didn’t seem to work for others...
IRS, NSA, ATF, FBI — it never stops.
The situation is beyond bad when liberal law prof Jonathan Turley tells a House committee of the extreme danger posed by two sets of laws, one for the rulers and one for the ruled.
I just wonder if it's going to result in changes.
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