Federal government’s bookkeeping needs fixing, too. “There’s been a lot of sanctimonious finger-waving in Congress at corporate CEOs and much of it is hypocritical,” said Pete Sepp, a spokesman for the National Taxpayers Union, which promotes lower federal taxes and spending.
The financial statements of many federal agencies are in such dismal shape that the General Accounting Office (GAO) — the investigative arm of Congress that audits federal accounts — has been unable to provide an opinion on the government’s finances for the past five years. [startribune.com]
The government has no incentive to be careful about their finances. It’s not like it’s their money–if they run out, they can always steal more.
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