US Govt. Hiding Losses With Enron-Style Accounting

US Govt. Hiding Losses With Enron-Style Accounting

www.rawstory.co m

The federal government recorded a $1.3 trillion loss last year -- far more than the official $248 billion deficit -- when corporate-style accounting standards are used.

Modern accounting requires that corporations, state governments and local governments count expenses immediately when a transaction occurs. The federal government does not follow the rule.

"We're on an unsustainable path and doing a great disservice to future generations"

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Reported Losses: $248 billion.
Real Losses: $1.3 trillion.

BIG DIFFERENCE THERE!

Oh if I could only get my hands on %1 of that missing money!

The similarities between this and the Enron accounting scandal are shocking.
Our US financial system is based on one thing: designed collapse.


www.rawstory.co m
(visit the link for the full news article)

yea, designed by those in charge to polarize and rule by collapsing the economy. It's going to go hard soon..

This is always the story, they hide the losses and pad the gains to make it appear much better. They do the same thing with the Unemployment numbers as well since they don't count the people that are unemployed but their benefits have run out...Oh unemployment is lower now! LOL


Pie