In his accompanying statement to the report, David Walker, Comptroller of the US, warmed up his audience by stating that the GAO had found so many significant material deficiencies in the government’s accounting systems that the GAO was “unable to express an opinion” on the financial statements. Ha ha! He really knows how to play an audience!
In accounting parlance, that’s the same as telling your spouse “Our checkbook is such an out of control mess I can’t tell if we’re broke or rich!” The next time you have an unexplained rash of checking withdrawals from that fishing trip with your buddies, just tell her that you are “unable to express an opinion” and see how that flies. Let us know how it goes!
Then Walker went on to deliver the really bad news...
The federal deficit (that's how much our debt grew this year alone) is a record-setting 384 billion dollars - and is fully expected to get much worse.
But of course Dubya remains in favor of more tax cuts. Edit: And in favor of spending trillions more on a continuing escalation of the war in Iraq. But we've gotta stay the course, you know - no matter what all our Generals (and our soldiers, and the American people) tell us!
In 2k, I had some relatives in Texas who said they were voting for Bush for economic reasons. What a laugh riot! I think I've gotten more chuckles out of that than anything else in the last 5 years. Anyone who thinks voting for the NeoCons is a vote for fiscal conservativism is a total and complete moron.
The country is crashing financially. The housing bubble has popped. Everyone with a clue knows that the dollar is going over the cliff.
And yet all you "patriots" can't seem to do anything besides wave your flags and shout about how we all need to "support the troops." Evidently by sending them to get blown to bloody pieces in some third-world desert hellhole.
Good job, America! Keep waving that flag!