Posts Tagged ‘ GAO Audit ’

The Sorry State of U.S. Government Accounting Practices

Mar 13th, 2006 | By Michael Shedlock | Category: Macro Economics
I just finished reading the U.S. government’s consolidated financial statements for the fiscal years ended Sept. 30, 2005 and 2004. If you wish to read it, be forewarned that it is a 158-page PDF. Following are some interesting snips: Starting off on Page 14, we see a budget deficit of $319 billion: Disclaimers On ...read more