Posted by kallahar on Jul.19.02 at 11:12 am PDT.
kallahar writes Yahoo has a good story about the dubious accounting methods of the US government. "In the government's latest restatement, the Office of Management and Budget acknowledged this past weekend that the deficit for the current year is going to be more than 50% bigger than previously acknowledged: $165 billion instead of the $106 billion optimistically claimed five months ago. But if the government kept its books the way companies are supposed to, the bottom line would look far worse."
"The 2001 report shows $17.3 billion in money that simply couldn't be accounted for. That alone is more than the annual revenues of all but the biggest U.S. corporations."