Using the Generally Accepted Accounting Principles standard of accounting, as most American businesses must use, the recent years' U.S. budgets were far worse than what the politicians have been saying they were. For 2005, the deficit was really $760 billion. For 2004, it was $616 billion.
These figures are in stark contrast to the $319 billion deficit reported instead by using the government's accepted barometer of cash outlays versus revenues. That number had represented a $93 billion decrease from the previous year's deficit of $412 billion, which Republicans trumpeted as a vindication of their fiscal policies! For the correct GAAP accounting standard, the Treasury Department posted that 158-page report on the agency's web site upon its December 15 release. It circulated widely in financial circles at the time, but did not attract much attention in Washington.
In 2005, government liabilities increased by $808 billion on the balance sheet, to $9.9 trillion. If this doesn't show how irresponsible Congress is, we don't know what does. Folks, this is one of the most startling news stories in a very long time, even though the major news media didn't pick it up, when it was posted by the U.S. Treasury Department last December 15. VOID, Vote Out Incumbents for Democracy, asks all voters to consider very seriously voting out the incumbents in Congress who maintain and support these kinds of deceipts and corrupt practices. And keep voting them out in subsequent election years, until we as a nation receive the fiscal responsibility we all know should be the norm, not the exception!
Sources: Govexec.com, U.S. Treasury Department
Ron Brown said at :
9:14 AM, 03 04 2006 | Permalink
If businesses used the same accounting practises that the government does they would be bankrupt in very short order. And the CEOs would all be in prison.
But the government hasn't been held responsible fir it's action for so long that it gets by with it's shoddy accounting and overspending.
Ron Brown | March 4, 2006 9:14 AM
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WASUMMER said at :
2:09 PM, 03 11 2006 | Permalink
I am classified as a "REPUBLICAN", but I feel that as Americans, we need to get out of that and start looking at the issues and then going from there making decisions that are in the BEST INTERESTS of the American People and America!!! I feel our Government Officials (all Offiliations)are NOT making choices, good decisions in the best interests of America or the American People!!! They are making choices that line them and their friends pokets w/ money and things!!! That should be criminal!!!! I don't feel we should be the world police or give the billions of dollars to other countries, train their Armys, for them to to complain about America, and turn on us when they feel it benefits them!!! I say if we have all that money, put it into America and the American People!!! I don't think that our Government should be able to vote in a pay raise for themselves; that is something the American People should vote on!!! This Ports Deal was NOT in the BEST interest of the American People, or America. It was actually a betrayal of our men and women whom put their lives on the line daily and are currently in the Middle East fighting! Bush did that deal sneaky, as it was BS!!! It all goes back to Haliburton and its subsidiaries! Whom is all shareholders in those companies?!!? BUSHES, CHENEYS, SAUDI ROYAL FAMILY, BIN LAUDENS, and many more of our Government Officials/Middle East Power People!!! That IS WRONG and should be CRIMINAL. In the first Gulf War we left before the job was done. We left the Curds hanging. In result, Suddam tried to exterminate the entire race. Going in and helping them was a good thing. Yes Bush led us to believe it was for other reasons and that was wrong!!! How soon the American Govt. and Americans forget about our (goes back further than that) Iran Hostages, U.S.S. Cole Bombing, 9-11!!!! Our Country was based on two things...GOD and Immigrants!!! If "LEGAL" Immigrants want to come here and become U.S. Citizen's, FANTASTIC!!! They need to come here and respect our customs and traditions!! Americans shouldn't have to change or give up their customs and traditions for them!!! If they don't like our customs, traditions , then they need to go back home or go somewhere else!!!
It is sad, but unfortunately a lot of people really don't know their own history!!! We need to go back to General Black Jack Pershing and take away a few lessons from him and use some of his tactics today!!!!
WASUMMER | March 11, 2006 2:09 PM
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David Weller said at :
2:32 PM, 03 11 2006 | Permalink
Wasummer, you make a lot of sense! When is Washington going to do the business of the American people? We voted for who we felt was going to solve our nation's problems best, yet instead, we get incumbents bent on satisfying their peculiar special interests, and perpetuating a vicious cycle of special interest monies and re-election victories! Let us vote out those irresponsible incumbents, in favor of public servants who have the best interests of the country in mind!
David Weller | March 11, 2006 2:32 PM
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Stephanie said at :
10:41 PM, 03 11 2006 | Permalink
I'm soon going to start taking courses to earn a business degree...so hopefully by the time I'm done I'll understand what you said, David...but, it doesn't take someone with any kind of degree to recognize that America's fiscal shape is NOT good and is getting worse all the time. While I don't recommend we run America like a business, where profit is the bottom-line, we definitely need better custodians in charge of OUR money!
Stephanie | March 11, 2006 10:41 PM
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