We've had years of conservative Congresses and Presidents and out budget deficits are ewver increasing. Probably because the economy is growing thanks to governemnt spending!
Please read my comment under Gary Causer at the end of the article.
The Federal Balance Sheet Understates Our Problem
In Washington, if you want to make something public while minimizing press attention, you should release it on a Friday. The current Administration topped that by issuing the consolidated financial statements of the U.S. Government, which included the Government Accountability Office's (GAO) related independent audit report on the Friday before Christmas when the public was focused on the holiday season and key policymakers were either headed out of town or already gone.
The report was simply posted on the Internet and provided to the press on request and without any press briefing. Thus, on December 23, 2011, federal policymakers once again demonstrated their lack of desire to promote public awareness and understanding regarding the federal government's deteriorating financial condition and bleak longer-term fiscal outlook.
In fairness, previous Administrations have not given the release of the federal government's annual financial report as much attention as it deserves, but this year's action was unparalleled. As a result, the press and the media have been "Missing in Action" with regard to reporting on this year's dismal annual report.
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